407,374 Private Sale Houses Next Year... 50% Increase Compared to This Year

[Asia Economy Reporter Tae-min Ryu] Next year, the number of housing units for sale nationwide is expected to increase by more than 50% compared to this year, reaching approximately 410,000 units.

According to the results of a survey conducted on the '2022 Nationwide Apartment Supply Volume (excluding public housing)' by the real estate research firm Realtoday on the 27th, next year, 407,374 units are planned to be supplied across 470 project sites nationwide. Compared to this year's figures (as of December 31 subscription date) of 430 complexes and 271,261 units, this represents a 50.2% increase.

In the metropolitan area, about 200,000 units are expected to be supplied. This includes ▲Seoul with 53 complexes and 47,626 units ▲Gyeonggi with 127 complexes and 116,017 units ▲Incheon with 33 complexes and 32,598 units, totaling 213 complexes and 196,241 units. This is a 75.6% increase compared to this year.

In the five major metropolitan cities and Sejong, a total of 138 complexes with 109,728 units are expected to be supplied. This is a 128.9% increase compared to this year. The breakdown is ▲Gwangju with 21 complexes and 14,111 units ▲Daegu with 44 complexes and 27,810 units ▲Daejeon with 17 complexes and 23,242 units ▲Busan with 42 complexes and 35,663 units ▲Sejong with 3 complexes and 2,064 units ▲Ulsan with 11 complexes and 6,838 units.

Elsewhere in the provinces, a total of 119 complexes will supply 101,405 units. The breakdown includes ▲Gangwon with 9 complexes and 5,346 units ▲Gyeongnam with 19 complexes and 14,523 units ▲Gyeongbuk with 13 complexes and 16,319 units ▲Jeonnam with 13 complexes and 8,429 units ▲Jeonbuk with 9 complexes and 7,008 units ▲Jeju with 7 complexes and 2,465 units ▲Chungnam with 26 complexes and 18,499 units ▲Chungbuk with 23 complexes and 28,816 units.

A Realtoday official stated, “Just as the average subscription competition rate this year recorded a high level of 20 to 1, it is analyzed that demand will similarly concentrate in the subscription market next year.” He added, “This is because supply will be concentrated in promising areas and complexes such as major redevelopment and reconstruction projects in the metropolitan area and the 3rd New Towns.” He further explained, “The significant price increase of older apartments and difficulties in access due to loan regulations are also among the reasons why actual demand is relatively more attracted to the subscription market, which is easier to approach.”

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