Jusan-yeon "October Housing Market Outlook... Slight Decline in Capital Area, Improvement in Provinces"

[Asia Economy Reporter Ryu Tae-min] The nationwide housing pre-sale market outlook for October was 84.8, showing a level similar to last month.

According to the Korea Housing Industry Research Institute (KHIRI) on the 12th, the Housing Sales Sentiment Index (HSSI) outlook for October was recorded at 84.8, up 0.2 points (p) from the previous month. The HSSI is an index compiled by surveying housing developers about their outlook on the pre-sale market. A figure below the baseline of 100 indicates a negative market outlook.

KHIRI analyzed that the nationwide outlook, which was in the 50-70 range last year, reached the 80s in November last year and then maintained the 90-100 range, setting a record high since the survey began. However, since last month, some regions have shown a dominant adjustment outlook. It is also expected that the housing pre-sale market will maintain a relatively favorable trend compared to previous years, reflecting the base effect of the boom in the first half of this year.

Seoul recorded 94.7, down 2.1p from last month. Incheon fell 6.7 points to 93.3 compared to last month, while Gyeonggi rose 5.4 points to 105.4 from the previous month. Among metropolitan cities, except for Busan at 90.4 (up 0.4 points), Daejeon at 94.1 (up 0.4 points), and Sejong at 92.3 (up 10.5 points), the rest recorded below 90, showing levels similar to other provinces. In particular, Daegu recorded the lowest outlook nationwide at 64.0, falling an additional 2.6 points from the previous month.

A KHIRI official said, “Demand for newly pre-sold houses remains strong amid the continued rise in housing prices. Overall, the pre-sale market trend is judged to be favorable.” He added, “However, since there are risk factors depending on the supply and demand situation by region, careful consideration of supply scale and timing is necessary when promoting pre-sale projects.”

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