In July, 75,000 Housing Units Flood the Market to Avoid the Price Ceiling System

71 Complexes to Be Offered Next Month, Totaling 75,751 Households
General Sale Units at 46,818 Households... Increase of 29,910 Households Compared to Last Year

Comparison of Nationwide Apartment Supply in July 2019 and July This Year

[Asia Economy Reporter Lim On-yu] In July, 75,000 households will be offered nationwide. Despite being a traditional off-season, the volume has tripled compared to a year ago due to the upcoming implementation of the private land price ceiling system. In particular, the supply in Seoul exceeds 20,000 households.

According to Zigbang on the 29th, 71 complexes with a total of 75,751 households will be offered next month. Among them, 46,818 households are for general sale, an increase of 29,910 households compared to the same month last year (16,908 households).

Proportion of Total Households by Supply Type in July This Year

Especially, many apartments are built through redevelopment and reconstruction projects. In the metropolitan area, 66%, and in other regions, 57% of the supply comes from redevelopment projects.

Since the price ceiling system will be implemented from the 29th of next month, it seems that the supply is concentrated to avoid this. Zigbang explained, "In the metropolitan area, where many areas are designated as speculative overheated zones and the price ceiling system applies, many redevelopment and reconstruction apartments are expected to be supplied."

Comparison of Apartment Pre-sale Volumes by Region in July This Year

Among the 75,751 households supplied nationwide, 40,950 households are preparing for sale in the metropolitan area. Seoul plans the largest supply with 20,427 households. A total of 12 complexes will be offered. The supply is concentrated in redevelopment apartments such as Dunchon Jugong in Dunchon-dong, Gangdong-gu, and Lotte Castle River Park Signature in Jayang-dong, Gwangjin-gu.

In other regions, 34,801 households are scheduled for sale, with Daegu City having the largest supply at 12,159 households.

Meanwhile, recently offered complexes located in prime locations such as Raemian Elinity in Yongdu-dong, Dongdaemun-gu, Seoul, and Hillstate Lake Songdo 3rd in Songdo-dong, Yeonsu-gu, Incheon, showed double-digit average subscription competition rates and all types were closed in the first priority.

However, due to the 'Management Plan for Housing Market Stabilization' announced by the Ministry of Land, Infrastructure and Transport on the 17th, the adjusted target areas have been expanded to the entire metropolitan area (except some areas), and loan regulations have been strengthened. Zigbang urged, "Applicants waiting for subscription should carefully check the resale restriction period and the ratio of interim payment loans before applying."

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