Up to 34,000 Households to Move In This July, but... "Shortage of New Rental Apartments Expected"

Zigbang July Nationwide Apartment Move-in Volume Total 34,263 Units
Largest Since June 2019... Twice the Previous Month
However, Direct Move-in Landlords Expected to Increase Due to 6·17 Measures

[Asia Economy Reporter Onyu Lim] The nationwide apartment move-in volume in July is expected to reach about 34,000 units, marking the highest level this year. However, due to various regulations such as the June 17 real estate measures, many homeowners are moving in directly, making it difficult to find new apartment jeonse (long-term lease) listings.

On the 22nd, Zigbang announced that the total apartment move-in volume nationwide in July is expected to be 34,263 units. This is the largest volume since June 2019, when 39,635 units moved in, and is expected to be the highest this year. It is 40% more than the 24,496 units that moved in during the same period last year. Compared to the previous month, which had 17,466 units moving in, it is about double.

By region, 19,321 units will move in the metropolitan area, and 14,942 units in other provinces. While the volume supplied in other provinces is similar to previous years, the metropolitan area sees an increase in new apartment move-ins in Seoul, Gyeonggi, and Incheon, with an 89% increase compared to last year.

However, the government's June 17 real estate measures aimed at eradicating speculative demand are expected to have some impact, such as a contraction in transactions in the apartment move-in market. In particular, most of the metropolitan area has been designated as a regulated area under this measure, and jeonse loan restrictions apply when purchasing new homes over 300 million KRW, which is likely to deepen buyers' cautious stance in the short term.

The jeonse market is also expected to experience changes. Ham Young-jin, head of Zigbang Big Data Lab, said, "If a mortgage loan is taken out in a regulated area, there is a six-month move-in obligation, which may reduce jeonse listings," adding, "Especially since many demanders prefer new apartments, it will likely be difficult to find jeonse listings for new apartments."

Major move-in complexes include Sagajeong Central I-Park in Myeonmok-dong, Jungnang-gu, Seoul; Sanseong Station Forestia in Sinheung-dong, Sujeong-gu, Seongnam; Unjeong New Town I-Park in Dongpae-dong, Paju; The Sharp Songdo Marina Bay in Songdo-dong, Yeonsu-gu, Incheon; Yeonsan Lotte Castle Gold Foret in Yeonsan-dong, Yeonje-gu, Busan; and Seosin I-Park e-Pyeonhansesang in Seosin-dong, Wansan-gu, Jeonju.

Sagajeong Central I-Park redeveloped Myeonmok 3 District. It consists of a total of 1,505 units, ranging from 59 to 114㎡ (exclusive area), with move-ins scheduled to begin at the end of July. It is within walking distance of Sagajeong Station on Subway Line 7, and Homeplus is located right in front of the complex, making convenience facilities easily accessible. It offers a pleasant residential environment with Jungnangcheon Stream and Yongmasan Mountain nearby.

Sanseong Station Forestia is a complex rebuilt from Sinheung Jugong. Scheduled for move-in at the end of July, it consists of 4,089 units in 39 buildings, ranging from 59 to 98㎡. It is within walking distance of Sanseong Station on Subway Line 8, providing good access to areas such as Jamsil and Bundang. Nearby educational facilities include Seongnambuk Elementary School and Seongnam Girls' Middle School. Sujeong-gu Office and E-Mart are conveniently accessible, and Seongnam City Medical Center is located nearby.

Unjeong New Town I-Park is a mammoth complex with 3,042 units, ranging from 59 to 109㎡. GTX Unjeong Station (scheduled to open in 2022) is located right in front of the complex, which will further improve access to downtown Seoul in the future. Dongpae Elementary School (scheduled to open in September 2020) and Dongpae High School are nearby, and convenience facilities such as E-Mart and Homeplus are easily accessible. Move-ins are scheduled to start at the end of July.

The Sharp Songdo Marina Bay is scheduled for move-in in mid-July. It is a mammoth complex with a total of 3,100 units, ranging from 74 to 124㎡. It is an ocean-view complex overlooking the West Sea, and a waterfront park (scheduled to be completed in 2021) is being developed right in front of the complex. Misong Elementary School is located within the complex, and Haeyang Middle School is also scheduled to open in 2021.

Yeonsan Lotte Castle Gold Foret consists of 1,230 units, ranging from 59 to 105㎡. It is a complex redeveloped from Yeonsan 6 District, with move-ins starting at the end of July. It is within walking distance of Mulmangol Station on Busan Subway Line 3 and City Hall Station on Line 1, making travel to other areas convenient. Educational facilities such as Yangdong Elementary School, Yangdong Girls' Middle School, and Dong-Eui University, as well as Busan Metropolitan City Hall and Yeonje District Office, are located nearby.

Seosin I-Park e-Pyeonhansesang consists of 1,390 units, ranging from 34 to 116㎡. Seosin Elementary School is located within the complex, and commuting to Hanil High School is possible. Convenience facilities such as E-Mart and Lotte Department Store are nearby, providing a comfortable residential environment. The Jeonjucheon waterfront park is located near the complex, offering a pleasant atmosphere. Move-ins are scheduled to begin in mid-July.

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