Concerns Over Unsold Units... Daegu, Daejeon, Ulsan, Sejong, Gangwon, Gyeongbuk Record Zero Supply for Four Consecutive Months

April Nationwide Subscription Competition Rate 5.6 to 1
Cheongju and Busan Show Strong Performance... Seoul Remains Weak

Amid growing concerns over unsold housing in regional areas, it has been revealed that some regions such as Daegu, Sejong, and Ulsan have had zero new housing supply for four consecutive months. Although the nationwide subscription competition rate has been improving since March, the peak season for the real estate market, the popularity of individual complexes is showing a mixed pattern.

[Image source=Yonhap News]

According to an analysis of data from the Korea Real Estate Board by real estate platform company Zigbang on the 10th, Daegu, which has the highest number of unsold units nationwide, had no new housing supply at all until the 8th of this month. Since the subscription for ‘Hillstate Dongdaegu Central’ in Dong-gu, Daegu in January this year, there has been no supply. Along with Daegu, six regions including Daejeon, Ulsan, Sejong, Gangwon, and Gyeongbuk have had no subscriptions this year. This is interpreted as construction companies postponing their sales plans due to growing concerns over unsold units since the second half of last year.

According to the Ministry of Land, Infrastructure and Transport, as of the end of March, the number of unsold houses nationwide was counted at 72,104 units. Although unsold units showed a decreasing trend for the first time in 11 months since April last year, the number of unsold units remains at around 70,000, maintaining a high level.

After the government eased subscription-related regulations, the nationwide subscription competition rate improved compared to the previous month (March). In April, subscriptions were conducted in 16 complexes across seven metropolitan cities and provinces including Seoul, Busan, Incheon, Gwangju, Gyeonggi, Chungbuk, and Chungnam. The nationwide subscription competition rate recorded 5.64 to 1 for first-priority subscriptions in April, showing an improvement compared to 5.0 to 1 in March. The subscription shortfall rate also improved, dropping from 33.7% in March to 26.6%, a decrease of 7.1 percentage points.

However, polarization in competition rates by complex is also evident. In particular, the competition rate in Seoul, where complexes showing strong subscription trends are concentrated, is lower than in Busan and Chungbuk. The first-priority subscription competition rates in April were △ Seoul 2.4 to 1, △ Busan 4.4 to 1, △ Incheon 0.3 to 1, △ Gwangju 0.1 to 1, △ Gyeonggi 3.9 to 1, △ Chungbuk 18.6 to 1, and △ Chungnam 0.1 to 1. Notably, Harrington Place Technopolis in Cheongju, Chungbuk recorded the highest first-priority subscription competition rate at 57.6 to 1. Similarly, Cheongju Technopolis A98L Hildesheim recorded 48.3 to 1. On the other hand, Eliph Mia Station 2 Complex in Mia-dong, Gangbuk-gu, Seoul recorded a subscription shortfall rate of 16.7%, showing poor subscription results for small complexes regardless of region. Seosan May City in Seosan, Chungnam and Bellumiche Advanced in Gwangju also recorded subscription shortfall rates exceeding 90% due to the limitations of small-scale complexes.

During the same period, the first-priority subscription shortfall rates were △ Seoul 12.0%, △ Busan 0.0%, △ Incheon 70.6%, △ Gwangju 91.2%, △ Gyeonggi 30.7%, △ Chungbuk 0.3%, and △ Chungnam 91.7%.

A Zigbang official explained, "In April, Busan and Chungbuk showed relatively good results, while other regions showed poor subscription results. Incheon, which showed improved subscription results in March, showed a sluggish subscription market again in April, intensifying the concentration of demand on complexes with strong competitiveness." Reporter Minyoung Kim

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