March Apartment Move-in Volume Drops 40%... Concerns Over Worsening Jeonse Crisis

[Asia Economy Reporter Lim On-yu] The nationwide apartment move-in volume, which was over 20,000 households in January and February, is expected to decrease to around 15,000 households next month.

According to Zigbang on the 22nd, the apartment move-in volume nationwide in March is estimated at 14,700 households (22 complexes), a 38% decrease compared to this month.

Zigbang analyzed, "The relatively high move-in volume in the metropolitan area during January and February appears to have decreased by about 10,000 households in March, which influenced the overall reduction in move-in volume." The move-in volumes for January and February were 20,252 households and 23,786 households, respectively.

The March move-in volume in the metropolitan area is 5,598 households, a 66% decrease compared to February (16,511 households). On the other hand, the provinces have 9,102 households, a 25% increase from this month, accounting for 62% of the total supply volume in March.

Looking at the scheduled complexes by region, in Seoul, two complexes will begin move-ins: Mapo Prestige Xi in Yeomni-dong, Mapo-gu (1,694 households) and Yeongdeungpo Joongheung S-Class in Yangpyeong-dong 1-ga, Yeongdeungpo-gu (308 households).

In Gyeonggi Province, three complexes will hold move-ins: Byeongjeom Station I-Park Castle in Byeongjeom-dong, Hwaseong-si (2,666 households), Gwangmyeong Cheolsan Central Prugio in Cheolsan-dong, Gwangmyeong-si (798 households), and Anyang Central Hessen 2nd Phase Mixed-Use Complex in Anyang-dong, Manan-gu, Anyang-si (132 households).

In the provinces, 17 complexes are scheduled for move-ins, including Hwamyeong Prugio Hericent in Hwamyeong-dong, Buk-gu, Busan (886 households), Suseong Beomeo Eilin's Garden in Beomeo-dong, Suseong-gu, Daegu (719 households), Cheongju The Sharp First Park in Sugok-dong, Seowon-gu, Cheongju-si, Chungbuk (1,112 households), Yangsan Doosan We’ve 2nd Phase 1 & 2 Complex in Deokgye-dong, Yangsan-si, Gyeongnam (1,122 households), and e-Pyunhansesang Yeongcheon 1 & 2 BL in Wansan-dong, Yeongcheon-si, Gyeongbuk (1,210 households).

Zigbang forecasted that the move-in volume will remain at around 10,000 households per month in April and May, raising concerns about worsening jeonse (long-term lease) difficulties in some areas.

Zigbang stated, "In April, only 2,041 households in the metropolitan area are scheduled for move-ins, and in May, the volume will decrease mainly in the provinces, resulting in a total move-in volume of about 10,000 households. Preferred areas such as Pangyo and Wirye have complexes preparing for move-ins, and from June, the supply volume is expected to return to normal levels, so the side effects will not be significant," they predicted.

However, Zigbang also anticipated, "Since April and May are peak moving seasons with high demand, it may become difficult to find jeonse listings in areas with low move-in volumes."

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