In September, the Peak Season for Housing Sales, Approximately 47,000 Households Supplied Nationwide

Expected 57% Increase in Volume Compared to the Same Month Last Year

[Asia Economy Reporter Kim Min-young] A total of 47,105 housing units are expected to be supplied nationwide in September, the peak season for apartment sales. This is a 57% increase (17,120 units) compared to the same month last year. It appears that construction companies hurried to sell units as various housing supply methods, including pre-sale subscriptions, are expected to increase from the second half of the year. However, with the Chuseok holiday and the announcement of comprehensive youth housing support measures scheduled, it is uncertain whether all the supplied units will translate into actual sales.

According to Zigbang, in September, out of 71 complexes totaling 47,105 units, 40,791 units are preparing for general sales. This is an increase of 17,120 units compared to September last year. General sales increased by 18,610 units (84%).

Ham Young-jin, head of Zigbang Big Data Lab, explained, "With the Ministry of Land, Infrastructure and Transport’s ‘Plan to Realize National Housing Stability’ announced on the 16th of last month, various housing supply models including pre-sale subscriptions are expected to increase from the second half of the year. Therefore, construction companies are likely to rush to supply the scheduled units to avoid this."

Of the 47,105 units to be supplied nationwide this month, 15,677 units are planned for sale in the metropolitan area. Gyeonggi Province plans the largest supply with 9,047 units. In the provinces, 31,428 units are scheduled for sale, with Chungcheongnam-do expected to supply the most at 6,026 units.

In Seoul, one complex with 140 units is preparing for sale. It is ‘Hwagokdong The Live,’ developed by KB Real Estate Trust and constructed by SGCE Tech Construction. Located in Hwagok-dong, Gangseo-gu, Seoul, all 140 units will be sold as general sales, consisting of exclusive areas ranging from 30 to 59 square meters.

In Gyeonggi Province, 12 complexes with 9,047 units are preparing for sale. In Incheon, 10 complexes with 6,490 units are expected to be supplied. The main sales for complexes that had pre-sale subscriptions in Geomdan New Town are scheduled to begin.

In the provinces, relatively many new apartments are expected to be supplied mainly in Chungcheongnam-do (6,026 units), Gyeongsangbuk-do (5,038 units), and Gyeongsangnam-do (3,737 units).

However, the sales outlook is not optimistic. Ham Young-jin of the Big Data Lab said, "September includes the Chuseok holiday and the announcement of the ‘Comprehensive Youth Housing Support Measures,’ so it is uncertain whether all units will lead to actual sales."

Meanwhile, the complexes scheduled for sale in August, surveyed at the end of July, were 51 complexes totaling 35,638 units, with 29,647 units for general sales. Upon re-survey, only 36 complexes with a total of 20,559 units (a supply performance rate of 58%) and 17,561 units for general sales were actually sold, resulting in a supply performance rate of 59%.

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