About 14,000 Housing Units to Be Supplied by Top 10 Construction Companies in Provinces in Q4 This Year

[Asia Economy Reporter Choi Dong-hyun] In the fourth quarter of this year, the top 10 construction companies owning popular brand apartments will supply about 14,000 apartment units in provincial areas, where regulations are relatively less strict compared to the metropolitan area.

According to real estate market analysis firm Real Estate Info on the 1st, from October to December, 44,081 apartment units (58 sites) are scheduled for general sale in provincial areas, of which the top 10 construction companies' share is 14,136 units (excluding joint contracts), accounting for 32% of the total. In particular, since the 22nd of last month, the resale restriction on pre-sale rights in provincial metropolitan cities has been strengthened to last until ownership transfer registration, leading large companies to focus on sales in small and medium-sized cities that avoid these regulations. In fact, the supply volume in small and medium-sized cities (9,368 units) is nearly twice that of provincial metropolitan cities (4,768 units).

This supply volume differs from last year. During the same period last year, the top 10 construction companies focused more on sales in provincial metropolitan cities (5,961 units) than in small and medium-sized cities (4,286 units). However, in the fourth quarter of this year, supply in metropolitan cities decreased by 20% compared to the same period last year, while supply in other small and medium-sized cities more than doubled.

Brand apartments are also highly preferred in provincial areas, so good sales results are expected. In fact, among 33 complexes constructed by the top 10 construction companies in provincial areas from January to September, 30 complexes successfully closed first priority subscriptions.

Kwon Il, Research Team Leader at Real Estate Info, said, “Brand apartments, based on the construction know-how of large construction companies, have stability and product competitiveness, making them likely to become landmark complexes leading local market prices. Due to real estate policies, the opportunity to own a home has increased, so many actual buyers are expected to actively apply for subscriptions.”

Daelim Industrial plans to supply ‘e-Pyeonhansesang Suncheon Urban Tower’ in Jogok-dong, Suncheon, Jeollanam-do, in October. It consists of a total of 632 units with exclusive areas ranging from 84 to 112㎡. This is the second e-Pyeonhansesang apartment in Suncheon, and its local recognition is high due to the successful sale of the previous ‘e-Pyeonhansesang Suncheon’.

GS Construction plans to supply ‘Gangneung Xi Fine Venue’ in Naegok-dong, Gangneung, Gangwon-do, in November. It will be the first Xi apartment in Gangneung, consisting of 918 units ranging from 74 to 135㎡. KTX Gangneung Station is located about 2 km from the complex, allowing travel to Seoul in about 2 hours.

POSCO Construction also has supply plans for November. They are expected to release The Sharp apartments in block A5 of D-Ocean City, Gunsan, Jeollabuk-do. A total of 771 units ranging from 84 to 154㎡ will be supplied. It offers easy access to the Seohaean Expressway and is close to the Gunsan and Saemangeum National Industrial Complexes.

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