August Move-in Volume Up 23% Year-on-Year... Large and Medium-Sized Areas Also 'Soaring'

A Total of 30,214 Households Nationwide Scheduled for Move-in
Move-in Volume Decreases in September-October, Rent Price Instability Expected to Persist

[Asia Economy Reporter Onyu Lim] The volume of apartment move-ins nationwide in August is expected to increase by more than 20% compared to the same period last year. The proportion of medium to large-sized units is also expected to rise.

According to Zigbang on the 27th, a total of 30,214 households are scheduled to move in nationwide next month. Although this is 8% less than the previous month (32,913 households), which had the highest monthly volume, it is 23% more than the same month last year. By region, the Seoul metropolitan area has a relatively large number of move-ins. There will be 19,315 households moving in the metropolitan area and 10,899 households in other regions.

Notably, the proportion of medium to large-sized units is increasing. 17% (5,191 households) of the total consists of medium to large-sized units exceeding 85㎡ (exclusive area). Considering that the average monthly move-in volume from January to July this year had about 8% of units exceeding 85㎡, this is approximately double the previous proportion.

By region, the volume of units exceeding 85㎡ is 2,438 households in the metropolitan area and 2,753 households in other regions. In the metropolitan area, many medium to large-sized units are included in mixed-use complexes in central Seoul areas such as Yongsan and Mapo. In other regions, there are many medium to large-sized units centered around innovation cities and housing development districts in Jeonnam, Gyeongnam, and Jeonbuk.

Major move-in complexes next month include Yongsan Central Park Harrington Square in Hangangno 3-ga, Yongsan-gu, Seoul; Daeya Station Doosan We've the Park in Daeya-dong, Siheung, Gyeonggi; Hillstate River City Complexes 1 and 2 in Gochon-eup, Gimpo, Gyeonggi; and Landmark City Central The Sharp in Songdo-dong, Yeonsu-gu, Incheon.

Meanwhile, with the introduction of the three lease laws (Jeonse and monthly rent reporting system, rent ceiling system, and contract renewal request right system), the rise in Jeonse prices is becoming noticeable. There is a movement to sign Jeonse contracts at high prices before the laws are passed to raise deposits in advance, and the government's strengthening of actual residence requirements is reducing the supply of Jeonse properties. The effect of new apartment move-ins is also expected to be limited.

Ham Young-jin, head of Zigbang Big Data Lab, analyzed, "Although the volume of move-ins in August is large and the proportion of medium to large-sized units is relatively high, the volume of move-ins is expected to decrease from September onward, making it difficult to significantly stabilize the Jeonse market."

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