November Move-in Volume Nationwide 27,000 Households... 42% Decrease Compared to Same Month Last Year

Real Estate R114 "More than Half in Gyeonggi and Incheon... Minimal Market Impact"

[Asia Economy Reporter Kim Hyemin] Next month, about 27,000 apartment units nationwide will be occupied. Although the volume has decreased by nearly half compared to a year ago, experts believe that the decrease in supply will not have a significant impact on the housing market.

According to Real Estate R114 on the 17th, the scheduled apartment move-in volume nationwide in November is 38 complexes, totaling 27,266 units (including rental). This is a 42.5% (20,160 units) decrease compared to the same month last year (47,386 units). Compared to the average move-in volume of 36,464 units in the same month over the past five years, it is also 9,000 units less.

However, the outlook is that the reduced supply in November will not have a major impact on the housing market. Real Estate R114 stated, "The cumulative supply volume is 295,501 units, already surpassing last year's move-in performance," adding, "An additional 35,317 units are scheduled to move in by the end of the year, and due to prolonged weakening of buying demand, inventory is accumulating locally."

More than half of the move-in volume is concentrated in Gyeonggi Province (10,666 units) and Incheon (3,718 units). In particular, Gyeonggi Province accounts for 71% of the metropolitan area’s move-in volume (15,000 units). Since June, more than 10,000 new units have been moving in continuously, with concentrated move-ins in November in cities such as Goyang and Hwaseong.

In Deok-eun District, Deok-eun-dong, Goyang City, after the first apartment move-in started in July, residents are expected to move into Goyang Deok-eun Jungheung S-Class Park City (894 units) and DMC River Park Xi (702 units) in November. In Geumgwang-dong, Seongnam City, the e-Pyeonhansesang Geumbit Grand Maison (5,320 units), the largest number of units ever in Seongnam apartments, is scheduled for move-in.

In Incheon, move-ins are centered around Geomdan New Town in Seo-gu and redevelopment projects in Bupyeong-gu. A total of 3,718 units (8 complexes) will be occupied, including Bupyeong Doosan We've The Park in Sangok-dong, Bupyeong-gu (799 units), Geomdan New Town Daesung Verhill in Dangha-dong, Seo-gu (745 units), and Luone Jewel City Prugio in Gajeong-dong (778 units).

In Seoul, only one complex, Hillstate Hong-eun Forest (623 units) in Hong-eun-dong, Seodaemun-gu, will have move-ins.

Outside the metropolitan area, 20 complexes totaling 12,219 units will be occupied. Compared to the same month last year (30,318 units), this is a 59.7% (18,099 units) decrease. The area with the largest move-in volume is Chungnam, where the provincial government relocation new town RH10 (public rental, 2,596 units) in Hongbuk-eup, Hongseong-gun, will begin move-ins. Move-ins will also continue in Daejeon’s Yuseong-gu Dungok-dong Yuseong Dungok District Seohan I Da-eum (1,501 units) and Busan’s Sasang-gu Jurye-dong Jurye Lotte Castle Gold Smart (998 units), among others.

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