Unlocking the Housing Market... New Year Begins in Regional Major Cities

Last Year's Seoul Housing Supply Hits Record Low
Symbolic Start to the Year... Construction Companies' Devotion
Hanwha, Samsung, Ssangyong Showcase Branded Complexes

As the steep rise in apartment prices continues due to the shortage of supply in Seoul, consumers struggling to purchase their own homes are turning their attention to local pre-sale complexes. In particular, interest is high as various construction companies are preparing their first pre-sale projects of the new year in major provincial cities. In fact, last year’s pre-sale volume in Seoul hit a record low.

According to real estate information company Real Estate Info on the 8th, this year’s pre-sale volume in Seoul is also low at 18,436 units, accounting for about 5% of the nationwide total of 357,042 units. As a result, attention is being drawn to the first pre-sale projects in provincial areas.

Typically, construction companies launch their first pre-sale of the year with prime apartments. This symbolizes the start of their annual projects and can influence the overall market trend depending on the early-year sales results. Therefore, they select representative residential areas and highlight superior product qualities compared to surrounding apartments to attract buyers’ interest.

Earlier, Lotte Construction’s first pre-sale project in July last year, ‘Changwon Lotte Castle Centum Gold’ in Changwon, Gyeongnam, attracted 25,831 applicants in the first priority subscription, recording an average competition rate of 70.58 to 1. Located in Yangdeok-dong, a representative residential area of Masanhwoe-gu, Changwon, it drew great attention due to its proximity to various living infrastructures such as Bongdeok Elementary School, Lotte Mart, and Masan Express Bus Terminal. In terms of product features, it applied a 4Bay slab-type design and introduced specialized layouts that opened the kitchen and living room, focusing on differentiation.

Kwon Il, head of the research team at Real Estate Info, said, “Every year, construction companies put extra effort into their first pre-sale projects because their success or failure can affect subsequent complexes. Especially, with last year’s general pre-sale volume in Seoul hitting a record low of around 3,200 units, the subscription fever for prime complexes in major provincial cities is expected to be intense this year.”

Hanwha Forena Cheongju Maebong Rendering.

Hanwha Construction will launch ‘Hanwha Forena Cheongju Maebong,’ the first ‘Forena’ brand apartment in Cheongju, located in Mochung-dong, Seowon-gu, Cheongju, this month. This complex in Cheongju’s original downtown consists of a total of 1,849 units ranging from 74 to 104 square meters, making it the largest in Seowon-gu. Within a 3 km radius, residents can enjoy nearby facilities such as Homeplus, Yukgeori Market, as well as cultural facilities like CGV and Cheongju Arts Center. It is also adjacent to hospital facilities like Chungbuk National University Hospital and administrative facilities such as Chungcheongbuk-do Provincial Office. Additionally, there are numerous schools within walking distance, including Mochung Elementary and Unho Middle and High Schools, and a bus stop serving 13 routes.

Also this month, Hanwha plans to pre-sell ‘Hanwha Forena Cheonan Nota’ in Seongseong-dong, Seobuk-gu, Cheonan, Chungnam. With a total of 1,608 units ranging from 84 to 114 square meters, this is the third ‘Forena’ brand apartment in Cheonan’s prime location, expected to form a large-scale brand town with excellent infrastructure. The complex’s exterior features the unique value and premium of Forena’s exclusive ‘Forena Exterior Design,’ attracting attention.

Daewoo Construction is supplying ‘Eumseong Prugio The First’ in block B3 of the Eumseong Enterprise Complex City in Chungcheongbuk-do. The complex began first priority subscription on the 5th and will announce winners on the 12th. Comprising 1,048 units from basement level 2 to 29 floors above ground, it is characterized by offering medium to large-sized units of 74, 84, and 110 square meters, which are rare in Eumseong.

Ssangyong Construction will introduce ‘Ssangyong The Platinum Osiria’ in Gijang-gun, Busan. This residential-commercial complex consists of 191 units ranging from 84 to 146 square meters and neighborhood living facilities. It is adjacent to Yeonhwari Beach, offering ocean views, and is close to the Osiria Tourist Complex, a year-round luxury integrated tourism complex including accommodation, leisure, shopping, and theme park facilities, providing diverse infrastructure.

Samsung C&T will pre-sell ‘Raemian Forestige’ in Oncheon-dong, Dongnae-gu, Busan. Out of a total of 4,043 units ranging from 49 to 132 square meters, 2,331 units will be available for general sale. The complex offers convenient access to major commercial areas such as Oncheonjang and the area in front of Busan National University, abundant living amenities, and is adjacent to green spaces like Geumjeongsan Mountain and Geumgang Park, providing a pleasant residential environment.

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