Over 36,000 Households Move In September, Highest for the Month Since 2000

[Asia Economy Reporter Hwang Seoyul] Next month, 36,094 households, the largest number for the same month since 2000, will begin moving in.

According to Real Estate R114 on the 17th, a total of 36,094 apartment units nationwide are scheduled to be occupied in September. This is about twice (18,412 households) the number compared to September last year (17,682 households), and it is the highest volume for the same month since the survey began in 2000.

Apartment move-ins will begin in 11 cities and provinces nationwide, with more than half of the units concentrated in Gyeonggi (13,801 households) and Busan (6,589 households). Of the 17,950 units supplied in the metropolitan area, 77% are in Gyeonggi, where more than 10,000 units will be occupied throughout the third quarter following July (10,970 households) and August (11,938 households). With move-ins concentrated in areas showing recent apartment price weakness such as Hwaseong-si (3,764 households), Seongnam-si (2,411 households), Namyangju-si (1,960 households), and Suwon-si (1,594 households), it is expected that the rent prices in some regions will continue to weaken.

The number of units moving in outside the metropolitan area is 18,144 households, of which 9,953 households (54.9%) are from redevelopment and reconstruction projects. In Busan, which has the largest number of move-ins, 5,927 units (90%) out of the total 6,589 are from redevelopment projects. Following Busan, the number of units moving in is highest in ▲Gwangju 3,364 households ▲Chungnam 2,533 households ▲Daegu 2,413 households ▲Jeonnam 1,181 households ▲Jeonbuk 993 households ▲Daejeon 634 households ▲Ulsan 437 households.

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