15,000 Households Nationwide Move In May... The Lowest in the First Half of This Year

[Asia Economy Reporter Onyu Lim] The nationwide apartment move-in volume in May is expected to be about 15,000 units, the lowest in the first half of this year. Although the volume has been continuously decreasing since February, it is expected to increase steadily from June to September. In particular, 60% of Gyeonggi-do's move-in volume this year is concentrated in the second half of the year.

According to Zigbang on the 27th, the nationwide apartment move-in volume in May is 15,532 units. By region, the metropolitan area has 7,446 units, and other provinces have 8,086 units. In Seoul (3,890 units), three complexes where reconstruction and redevelopment projects have been completed will begin move-ins. Gyeonggi-do has 3,556 units with four complexes moving in, the smallest volume supplied since May 2017 (2,634 units). Incheon has no move-in volume for three consecutive months.

In the provinces, the volume is expected to decrease by about 19% compared to the previous month, with 8,086 units moving in. The move-in volume in Busan (382 units) and Daegu (348 units), which had continued for some time, has decreased.

◈ Major complexes scheduled for move-in in May 2020

'Nokbeon Station e-Pyeonhansesang Castle' is a complex located in Eungam-dong, Eunpyeong-gu, Seoul, redeveloped from the Eungam 2 Housing Area. It consists of a total of 2,569 units, ranging from 44 to 114㎡ (exclusive area). It is within walking distance of Nokbeon Station on Subway Line 3, and in front of the complex are Nokbeon Market and Eunpyeong-gu Office. It is possible to attend Eunpyeong Elementary School, and Baekryeonsan Mountain is located behind the complex, providing a pleasant environment. Move-ins are scheduled to begin around the end of May.

'Dangsan Central I-Park' is a complex located in Dangsan-dong 5-ga, Yeongdeungpo-gu, Seoul, with move-ins scheduled for the end of May. It was rebuilt from Sangah Hyundai Apartments and consists of a total of 802 units, ranging from 46 to 114㎡ exclusive area. Dangsan Station on Subway Lines 2 and 9 is within a 10-minute walk, and public transportation provides easy access to Yeongdeungpo Market Station and Yeongdeungpo Station. It is possible to attend Dangseo Elementary School and Dangsan Middle School, and nearby convenience facilities such as Costco and Lotte Mart are easily accessible.

'Siheung Central Prugio' is a complex located in Daeya-dong, Siheung-si, Gyeonggi-do, consisting of a total of 2,003 units ranging from 59 to 106㎡ exclusive area. Sincheon Station on the Seohae Line is located right in front of the complex, making it convenient to travel to downtown Seoul and other areas. It is possible to attend Sincheon Elementary School and Sincheon Middle School, and nearby residential commercial areas such as Lotte Mart are available. It is the third largest complex in Siheung, and move-ins will begin at the end of May.

'Hillstate Yeonje' is a complex located in Yeonje-dong, Buk-gu, Gwangju, with move-ins scheduled for the end of May. It consists of a total of 1,196 units, ranging from 82 to 84㎡ exclusive area, and the distance between buildings within the complex is wide, providing a pleasant environment. As a residential area behind the Gwangju Advanced Science National Industrial Complex 2nd District, there is steady demand from employees of resident companies, ensuring a solid base demand. The Honam Expressway and Dongnim IC are nearby, allowing travel to other regions, and it is possible to attend Yeonje Elementary School and Yangsan Middle School.

'Cheonan Lake Town 3rd Prugio' is a complex located in Seongseong-dong, Seobuk-gu, Cheonan-si, Chungnam. It consists of a total of 1,067 units, ranging from 59 to 84㎡ exclusive area, and together with the nearby 1st and 2nd phases, forms a large-scale brand town of about 4,000 units. Samsung SDI Cheonan Plant is located nearby, providing stable demand. It is possible to attend Cheonan Seongseong Elementary School and Seongseong Middle School, and convenience facilities such as E-Mart and Costco are close by. Notaesan Mountain is located in front of the complex, providing a pleasant residential environment.

'Jeonju Hyochon Daebang Nobleland Eco Park' is a complex located in Hyoja-dong 2-ga, Wansan-gu, Jeonju-si, Jeonbuk, consisting of a total of 1,370 units ranging from 84 to 117㎡ exclusive area. It is the last complex to be supplied in the Hyochon district and attracted high interest from buyers at the time of sale. It is possible to attend Hyochon Elementary School, which opened in March, and it is close to the Seobu New Town and Hyoja district, making convenience facilities easily accessible. Move-ins are scheduled to begin at the end of May.

Ham Young-jin, head of Zigbang Big Data Lab, diagnosed, "Due to the prolonged COVID-19 pandemic, it seems difficult for new apartment move-in candidates to move in for the time being." According to the Housing Industry Research Institute, the Housing Move-in Business Index, which diagnoses the move-in market, showed the lowest level since the survey began last month (nationwide 64.9 as of April forecast). Also, in March, the main reason for non-move-in was delayed sale of existing houses, indicating that the sluggish housing market due to COVID-19 is affecting apartment move-in rates.

However, Lab Chief Ham said, "It is hopeful that the domestic spread of COVID-19 is showing some signs of calming down recently." Some construction companies appear to be devising various countermeasures such as untact services and strengthened quarantine. However, since social distancing continues to be extended and the market normalization is yet to be seen, continuous monitoring of the apartment move-in market will be necessary for the time being.

This content was produced with the assistance of AI translation services.