In July, Over 80,000 Households Flood the Market... "Concentration of Pre-Price Ceiling System Supply"

[Asia Economy Reporter Onyu Lim] In the second half of this year, approximately 242,000 households will be supplied nationwide, with a concentration of supply expected in July, just before the implementation of the private land price ceiling system and the strengthening of resale restrictions.

According to Real Estate 114 on the 25th, the total number of planned supply nationwide from July to December this year is 242,110 households (based on total households, including rental units).

This is 58.7% more than the supply in the first half of this year (152,536 households), which struggled to keep up with the schedule due to the transfer of subscription tasks and the spread of the novel coronavirus (COVID-19).

In particular, supply in the second half is expected to be concentrated next month. As of the end of this month’s survey, the planned supply for next month is 86,501 households, more than twice the average monthly supply in the second half (40,352 households), and nearly double compared to the survey at the end of last month (48,298 households).

The private land price ceiling system will be implemented from July 29, and from August, resale will be restricted until ownership transfer registration in the metropolitan area and local metropolitan cities, which is interpreted as construction companies rushing to supply before these regulations take effect.

A Real Estate 114 official said, "After the end of July, there will be a concentration of subscription accounts with high scores for affordable apartments subject to the private land price ceiling system," adding, "With continued preference for new apartments and an increasing number of areas where prices are adjusted due to price controls, the subscription market in the second half is expected to maintain an overall positive trend."

In the second half, by region, 138,873 households will be supplied in the metropolitan area and 103,237 households in local areas.

The largest supplies are expected in Gyeonggi (74,469 households), Seoul (34,279 households), Incheon (30,125 households), Busan (20,114 households), Daegu (17,553 households), and Chungnam (12,873 households).

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