In December, Approximately 38,000 Nationwide Housing Subscription Applications... Seoul Records Highest Volume This Year
[Asia Economy Reporter Hwang Seoyul] Approximately 38,000 households nationwide are expected to receive subscription applications in December. In particular, Seoul will see the largest monthly supply this year as the 'Dunchon Jugong Reconstruction (Olympic Park Foreon)' complex, known as the largest reconstruction since the era of Dangun, goes on sale.
According to Real Today, a real estate research firm, on the 29th, 57,588 households (including rental, excluding officetels, based on first-priority subscriptions) will be supplied across 55 locations nationwide in December. Among these, 38,449 units are for general sale. The general sale supply in the metropolitan area is 23,731 units (61.7%), while the provinces account for 14,718 units (38.3%).
This month's general sale supply increased by about 36% compared to last month (28,288 units). The largest monthly supply this year is attributed to the sale of Dunchon Jugong in Seoul, where supply had been insufficient. Additionally, the expectation following the 4th Residential Policy Deliberation Committee last month, which lifted regulatory restrictions on the metropolitan area excluding Seoul, Gwacheon, Seongnam (Bundang and Sujeong), Hanam, Gwangmyeong, and Sejong, is reflected in this increase.
By city and province, Gyeonggi accounted for the largest share with 14,756 units (20 locations, 38.4%), followed by Seoul with 7,166 units (6 locations, 18.6%), and Gangwon with 4,209 units (7 locations, 10.9%).
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Kim Woongsik, a manager at Real Today, explained, "Next year, due to rising raw material costs and labor expenses, there is a high possibility that sale prices will increase further. With the lifting of regulations, entry barriers such as loans, taxation, and subscriptions have lowered, so for those with low scores, purchasing within this year might not be a bad option."
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