This Year’s Apartment Move-in Volume ‘Lowest in 5 Years’… Subscription Fever to Continue Next Year

[Asia Economy Reporter Ryu Tae-min] This year, the nationwide apartment move-in volume recorded the lowest level in the past five years.

On the 29th, real estate research firm Realtoday investigated the nationwide apartment move-in volume from 2017 to this year using data from the Ministry of Land, Infrastructure and Transport's 'Housing Construction Performance Statistics.' As a result, a total of 319,165 households (including scheduled move-ins) moved in this year, showing the lowest figure in five years.

This represents approximately a 14.5% decrease compared to the previous year's apartment move-in volume. Among these, the Seoul metropolitan area had 179,307 households, down 7.3% from the previous year, and the five major metropolitan cities saw 52,784 households move in this year, a 22.3% decrease. In the case of provincial metropolitan cities, only 87,074 households moved in this year, showing a 22.1% decrease compared to the previous year.

As the decrease in move-in volume continues, the subscription competition rate also rose sharply. According to Korea Real Estate Board's Subscription Home, the nationwide subscription competition rate this year recorded 18.8 to 1, and in Seoul, where the supply shortage continues, it soared to 164.4 to 1. This is an 84.9% increase compared to last year.

An industry official said, "The government is also aware of the supply shortage and has announced large-scale supply, but it is expected to take a considerable amount of time until actual move-ins," adding, "The hot subscription market atmosphere is expected to continue next year as well."

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