790,000 Households Nationwide Moved In Over 2 Years... Half Concentrated in the Seoul Metropolitan Area
Real Estate R114 and Korea Real Estate Board Joint Research
415,419 Households in the Metropolitan Area, 374,166 Households in Non-Metropolitan Areas
[Asia Economy Reporter Kim Hye-min] The number of housing units scheduled for occupancy nationwide over the next two years is estimated to approach 790,000 units. More than half of these are concentrated in the Seoul metropolitan area.
Real Estate R114 and the Korea Real Estate Board announced the "Information on Scheduled Apartment Occupancy" on the 23rd. This is a joint research result by Real Estate R114 and the Korea Real Estate Board, linking performance data such as housing construction permits and groundbreaking, occupant recruitment announcements, and redevelopment project progress held by both organizations. The forecast for the next two years is released semiannually.
According to the survey, the number of units scheduled for occupancy from July this year to June 2024 is estimated at 789,585 nationwide. The Seoul metropolitan area accounts for 415,419 units, and non-metropolitan areas account for 374,166 units, with more than 50% of the total volume concentrated in the metropolitan area.
By region, Gyeonggi has the highest number with 259,101 units, followed by Incheon (82,118 units) and Seoul (74,200 units). In non-metropolitan areas, the figures are ▲Daegu (63,273 units) ▲Chungnam (58,515 units) ▲Busan (50,817 units) ▲Gyeongnam (36,336 units) ▲Gyeongbuk (26,965 units) ▲Chungbuk (26,849 units) ▲Jeonnam (19,946 units) ▲Jeonbuk (18,511 units) ▲Gwangju (16,369 units) ▲Ulsan (16,315 units) ▲Daejeon (16,045 units) ▲Gangwon (14,849 units) ▲Sejong (6,332 units) ▲Jeju (3,044 units), respectively.
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Real Estate R114 stated, "This data can predict the supply level by region in the future, but whether the supply volume is appropriate requires a comprehensive review of past housing supply volumes, housing demolitions, household increases due to household division, and regional population changes."
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