Seoul City to Release 'Upcoming Apartment Information' Every Six Months

[Asia Economy Reporter Ryu Tae-min] The Seoul Metropolitan Government announced on the 22nd that starting this year, it will directly provide citizens with apartment move-in schedules and project lists every six months. This is to prevent confusion caused by sporadic move-in information provided by private real estate companies.

The city explained that the newly released 'Apartment Move-in Schedule' is compared and verified with the government's sale approval information to provide highly accurate supply volume information, and it includes project information directly managed by the Seoul Metropolitan Government. In particular, it reflects public housing projects and station-area youth housing projects, which private real estate companies have not been able to provide so far.

The timing and content of the apartment move-in schedule provision are as follows: for the first half of the year, it includes the move-in schedule for the current year plus the next two years, and for the second half, it includes the supply performance of the first half of the current year and the move-in schedule for the second half of the current year. For example, in the first half of this year, the move-in schedules for 2023 and 2024 are provided, and in the second half, the supply performance of the first half of this year and the move-in schedule for the second half are provided.

The Seoul Metropolitan Government has disclosed the apartment move-in schedule for the next two years in the first half of this year. A total of 34,000 units are expected to be supplied this year. By project type, 19,000 units are expected from redevelopment projects, and 15,000 units from non-redevelopment projects. Next year, the move-in volume is expected to increase to a total of 39,000 units. By project type, 23,000 units from redevelopment projects and 16,000 units from non-redevelopment projects are expected. Redevelopment projects include general redevelopment projects, small-scale redevelopment projects, and redevelopment promotion projects, while non-redevelopment projects include public housing, station-area youth housing, station-area long-term lease housing, and station-area revitalization projects.

The move-in schedule for the next two years shows a slight decrease compared to the average annual supply over the past five years. The city explained that this is due to external environmental factors such as interest rate hikes and sharp increases in raw material prices. It is expected that if the economy recovers, the move-in schedule will return to the average level of the past five years.

Additionally, the city provides detailed 'Move-in Project Lists' where specific information such as housing project type, location information, number of units supplied, and expected completion year can be checked. Furthermore, Seoul plans to develop and provide the 'Seoul Move-in Information App' to help citizens easily access move-in information.

Han Byung-yong, Director of the Seoul Housing Policy Office, said, "By providing detailed apartment move-in information by region, we expect to reduce confusion in the housing market and help citizens when purchasing homes or preparing to move." He added, "We will continue to discover and provide more diverse information that can alleviate citizen inconveniences, thereby supporting the stability of the real estate market and citizens' housing."

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