Expectations 'Soar' for Housing Sales Blooming After Presidential Election Ends

13,000+ More Households Than February
Expecting Revival in the Previously Stalled Subscription Market

Apgujeong Hyundai Apartment_Real Estate Reference Photo / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Jo Gang-wook] The number of housing units scheduled for sale nationwide this month (March) has increased by more than 10,000 units compared to last month, raising expectations for a revitalized spring housing market following the presidential election on the 9th.

According to Zigbang on the 8th, 34,559 units across 47 complexes (excluding pre-sale) will be supplied nationwide this month. Of these, 28,566 units are for general sale. Compared to the same period last year, the total number of units has increased by 6,623 units (24%↑), and general sale units have increased by 6,421 units (29%↑). Compared to last month, the supply has increased by about 13,000 units.

The large-scale supply this month is due to the resumption of sales schedules postponed until after the election. Recently, there have been concerns that market uncertainties and election-related issues could pose risks to subscription results. In fact, most of the March supply will be released after the 9th. The number of units accepting applications before the election is only about 5,000. At the end of this month, about 9,100 units are also scheduled to be supplied through pre-sale.

However, it is uncertain whether this large-scale supply can reverse the market sentiment, which has shrunk due to the recent sharp decline in subscription competition rates. Apartment subscription popularity is waning not only in provincial areas but also in the metropolitan area, where undersubscription cases are increasing. Accordingly, with loan regulations, interest rate hikes, and election variables expanding market watchfulness, it is analyzed that buyers will become more selective.

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