27,000 Housewarming Events on September 2... 70% of Local Supply in Sejong and Other Regions

Among 27,025 Households Nationwide, 19,893 Households Move into Local Areas
Concentration of Large-Scale Complex Move-ins in Sejong, Jeonnam, and Others

[Asia Economy Reporter Onyu Lim] In September, a total of about 27,000 households nationwide are scheduled to move in, with the proportion of local supply, including Sejong, expected to exceed 70%.

According to Zigbang on the 24th, the total apartment move-in volume nationwide in September is 27,025 households, a 12% decrease compared to 30,734 households in the previous month. Among them, 19,893 households are local move-ins. This is the highest level since February last year when 22,500 households moved in, and it is 75% more than the 11,377 cases in the previous month. In particular, large-scale complex move-ins are scheduled in areas such as Sejong (3,100 households), Jeonnam (2,664 households), and Gwangju (2,556 households).

The move-in volume in the metropolitan area is 7,132 households, with about 60% supplied in Seoul. Seoul’s move-in volume is 4,269 households, the highest among cities next month. Especially, new apartment move-ins will be centered around large complexes such as Gangnam. A Zigbang official said, "It is expected to help somewhat in resolving the shortage of jeonse (long-term lease) supply following the implementation of the two lease laws, including the right to request contract renewal and the rent ceiling system." On the other hand, Gyeonggi Province will supply 2,522 households, a 78% decrease from the previous month, and Incheon will supply 341 households, an 89% decrease from the previous month.

Meanwhile, in the fourth quarter, the metropolitan area is expected to have more move-ins. About 36,000 households in the metropolitan area and 23,000 households in local areas are scheduled to start moving in. Since the two lease laws were implemented at the end of July, concerns about the shortage of jeonse listings have increased. Accordingly, the government decided to lower the monthly rent conversion rate from 4% to 2.5% (scheduled to be implemented in October) to ease the burden on tenants.

However, a Zigbang official said, "Although the government’s efforts to suppress speculative demand and protect actual demand continue, it will be difficult for government policies to show effects in the short term due to liquidity flowing in amid low interest rates and policy backlash," adding, "It actually takes time for these laws to be fully absorbed into the market." He also predicted, "As the resurgence of COVID-19 puts the overall economic activities at a crossroads, active movements in the transaction market are expected to slow down relatively."

◆ Major complexes scheduled for move-in in September

A total of 28 complexes nationwide will move in during September. Eight complexes in the metropolitan area and 20 complexes in local areas will start move-ins. In the metropolitan area, three complexes in Seoul, four in Gyeonggi Province, and one in Incheon will move in. In local areas, 20 complexes will be supplied in places such as Sejong and Jeonnam.

‘Gaepo Raemian Forest’ is located in Gaepo-dong, Gangnam-gu, Seoul, consisting of a total of 2,296 households with sizes ranging from 49 to 136㎡ (exclusive area). It is a reconstruction of the Gaepo Shiyeong complex and is scheduled to start move-ins at the end of September. The complex is surrounded by Daltter Park and Yangjaecheon Stream, providing a pleasant environment, and nearby educational facilities include Guryong Elementary School and the National Gugak High School. There are buses from the stop in front of the complex that run to Seokchon Station and Yangjae Station, making subway access convenient.

‘Namyangju Doosan We've Trizium’ is located in Hwado-eup, Namyangju, Gyeonggi Province, consisting of 1,620 households with sizes ranging from 59 to 84㎡. Maseok Station on the Gyeongchun Line is nearby, and accessibility to other areas is expected to improve once the Metropolitan Area 2nd Ring Road opens. Hwado Elementary School and Simseok High School are close, and convenience facilities such as Lotte Mart are located near Maseok Station. Songrasan Mountain is next to the complex, providing a pleasant environment. Move-ins are scheduled to begin at the end of September.

‘e-Pyeonhansesang Daejeon Beopdong’ is a reconstruction of Beopdong 1 District located in Beopdong, Daedeok-gu, Daejeon. It consists of 1,503 households with sizes ranging from 59 to 84㎡. A residential town has formed near the complex, making the living environment convenient. Jungni Elementary School, Jungni Middle School, and Jungwon High School are located nearby, and the Korea Workers' Compensation & Welfare Service Daejeon Hospital is close. The Daejeon 2nd General Industrial Complex is adjacent, providing a solid demand base. Move-ins are scheduled to start in mid-September.

‘Gwangju Grand Central’ is located in Gyelim-dong, Dong-gu, Gwangju, redeveloped from Gyelim 8 District. It consists of 2,336 households with sizes ranging from 59 to 119㎡, and move-ins will begin from September 10. Gwangju Subway Line 1’s Geumnamno 5-ga Station and Geumnamno 4-ga Station are within walking distance, making travel to other areas easy. Nearby commercial facilities include Lotte Department Store and Homeplus. Educational facilities such as Junghung Elementary School and Gwangju High School are also close.

‘Haemil Village 1 and 2 Master Hills’ is located in Haemil-ri, Yeongi-myeon, Sejong, in the 6-4 living zone L1 and M1 blocks. The complex has a total of 3,100 households; Phase 1 (1,990 households) was constructed by Taeyoung and Hanlim Construction, and Phase 2 (1,110 households) by Hyundai Construction. Between the two complexes, elementary, middle, and high schools (scheduled to open in September) are located, and a complex facility including a playground for students and residents to use jointly is under construction. Buses running to KTX Osong Station and the government complex operate in front of the complex, making transportation convenient. Move-ins are scheduled for the end of September.

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