Q1 Housing Sales, 110,000 Units Nationwide... "Focus on Large Complexes with Adjusted Sales Schedules"

[Asia Economy Reporter Yuri Kim] Early in the year is typically considered an off-season for the housing sales market due to winter cold and the Lunar New Year holidays, but this year, the planned supply for the first quarter reaches 110,000 households.

According to Real Estate 114 on the 7th, the planned supply of private apartments nationwide for the first quarter of 2021 is 113,429 households (including rental units, based on total households) across 112 locations nationwide. This is 3.5 times the 32,685 households sold in the first quarter of 2020, which was sluggish due to the transfer of subscription work and the impact of COVID-19. It is also higher than the 80,927 households sold in the fourth quarter of last year. If 110,000 households are sold as planned, it is expected to record the highest sales performance since the first quarter statistics began in 2002.

By month, the planned supply is ▲39,541 households in January ▲39,971 households in February ▲33,917 households in March, averaging over 30,000 households per month. The increase in first-quarter supply is partly attributed to the rescheduling of large complex sales originally planned for the end of 2020. In fact, among the 40 large apartment complexes with over 1,000 households planned for sale in the first quarter this year, totaling 74,896 households, 15 sites with 30,686 households have had their sales schedules postponed. As of the end of November last year, sales planned for December such as Raemian One Bailey (2,990 households, scheduled for February) in Banpo-dong, Seocho-gu, Seoul; e-Pyeonhansesang Bupyeong Granghills (5,050 households, scheduled for January) in Cheongcheon-dong, Bupyeong-gu, Incheon; and Raemian Forestige (4,043 households, scheduled for February) in Oncheon-dong, Dongnae-gu, Busan, were postponed to the first quarter of this year.

By province and city, the planned supply for the first quarter is ▲Gyeonggi 42,377 households ▲Incheon 18,430 households ▲Gyeongnam 11,143 households ▲Daegu 8,437 households ▲Chungbuk 5,718 households ▲Busan 4,976 households ▲Seoul 3,953 households, in that order. The supply concentrated in the metropolitan area totals 64,760 households, which is over 10,000 households more than the 48,669 households in the provinces.

In the metropolitan area, Gyeonggi Province releases an overwhelmingly large supply. Large complexes such as Uijeongbu Gosan-dong Uijeongbu Gosan Sujain DST (2,407 households), Yongin Gorim-dong Hillstate Yongin Dunjeon Station (1,721 households), Suwon Seryu-dong Suwon Gwonseon 6 District (2,175 households), and Gwangmyeong Gwangmyeong-dong Gwangmyeong 2R District Redevelopment (3,344 households) are scheduled for sale. Real Estate 114 stated, "Demand for subscription is expected to continue in large complexes with relatively well-equipped communities and infrastructure, and strong sales are anticipated in areas with well-developed metropolitan transportation networks such as Seongnam, Suwon, and Gwangmyeong."

In Incheon, supply will continue in Yeonsu-gu, Bupyeong-gu, Seo-gu, where subscription competition was fierce last year. e-Pyeonhansesang Bupyeong Granghills (5,050 households) in Cheongcheon-dong, Bupyeong-gu; Songdo Ja Crystal Ocean (1,503 households) in Songdo-dong, Yeonsu-gu; and Geomdan New Town Wooree Lin (1,180 households) in Dangha-dong, Seo-gu are scheduled for sale.

In Seoul, the planned supply of private apartments excluding rentals is 3,458 households, an increase compared to the previous quarter (1,130 households). Supply will be released in the Gangnam area, including Raemian One Bailey (2,990 households) in Banpo-dong, Seocho-gu; Banpo KT Site (140 households) in Banpo-dong, Seocho-gu; and Songpa Ogeum Anam (328 households) in Ogeum-dong, Songpa-gu.

In the provinces, Gyeongnam has the largest planned supply with 11,143 households. Large complexes such as Gimhae Sinmun-dong Gimhae Yulha Doosan We've (4,393 households), Changwon Gyobang-dong Changwon Gyobang 1 District Redevelopment (1,538 households), and Geoje Sangdong-dong Geoje Sangdong The Sharp (1,288 households) are scheduled for sale. In Daegu, a total of 8,437 households are expected to be supplied, including Suseong The Palace Prugio The Sharp (1,299 households) in Padong, Suseong-gu; Hanyang Sujain The Palcity (1,021 households) in Songhyeon-dong, Dalseo-gu; and Seodaegu Station Hwaseong Park Dream (1,404 households) in Pyeongni-dong, Seo-gu. In Chungbuk, large complexes such as Osong Station Paragon Central City (2,415 households) in Osong-eup, Cheongju-si, and Bongmyeong 1 District Reconstruction (1,745 households) in Bongmyeong-dong, Cheongju-si are notable. In Busan, redevelopment projects such as Raemian Forestige (4,043 households) in Oncheon-dong, Dongnae-gu, and Daeyeon 2 District Reconstruction (449 households) in Nam-gu are noteworthy.

Real Estate 114 expects that the subscription enthusiasm from last year will continue into the early-year sales market. The unsold inventory, which was 43,268 households in January last year, significantly decreased to 23,620 households in November, and the number of subscription account holders nationwide exceeded 27 million, indicating growing preference for new apartments. Additionally, with the housing market outlook becoming more optimistic this year, the anxiety of real demand buyers who have not yet secured their homes is increasing. Kyunghee Yeo, Senior Researcher at Real Estate 114, said, "There is expected to be considerable demand interest in the supply planned for the first quarter this year. However, since pre-subscriptions for the 3rd New Towns in the metropolitan area will begin from July, some demand dispersion effects are anticipated." In the provinces, while supply is limited in Ulsan and Sejong, strong performance is expected, and there is analysis that subscription demand may flow into some areas where resale is possible.

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