Daejeon City to Supply 32,000 New Housing Units This Year... "Expecting Real Estate Price Stabilization"

[Asia Economy (Daejeon) Reporter Jeong Il-woong] Daejeon City will supply 32,000 new housing units this year.

The city announced the "2022 Daejeon City Housing Supply Plan" on the 23rd. According to the supply plan, the city will newly supply 32,002 housing units in the region this year, including 28,093 apartments and 3,909 multi-family, multi-household, and row houses.

Among these, 2,419 units are rental housing, and 25,674 units are sale housing. Of the sale housing, general sales excluding cooperative member sales amount to 20,835 units.

The apartment supply scale by autonomous district is in the order of ▲Jung-gu 9,730 units ▲Seo-gu 6,834 units ▲Yuseong-gu 3,519 units ▲Dong-gu 3,113 units ▲Daedeok-gu 1,808 units.

By supply method, private construction accounts for 16,163 units, or 58% of the total, followed by redevelopment projects with 8,841 units at 31%, and public construction with 3,089 units at 11%.

This year in Daejeon, 10,539 apartments and 4,161 single-family and multi-family houses, totaling 14,700 units, which have already been supplied, are also about to be occupied.

The city cites the resumption of projects delayed last year due to the spread of COVID-19 and real estate regulations as the reason for the increase in new housing supply. It also expects that the increase in housing supply volume will stabilize prices in the previously overheated local real estate market.

Jung Hae-kyo, Director of the City Urban Housing Bureau, said, "The city will monitor housing market trends and respond to oversupply and shortages, ensuring that sale and rental housing quantities are supplied appropriately and timely."

Meanwhile, the city aims to supply 73,000 housing units by next year and more than 131,000 units by 2030 to ensure residential stability and housing price stabilization.

If the housing supply plan proceeds as targeted, the city expects the housing supply rate to increase to 113% by 2030. As of 2019, the regional housing supply rate was 101%.

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