Scarcity of New Apartments Increases... 'Uiwang Centline Desiang' Sold on a First-Come, First-Served Basis

- Nationwide Housing Permits in October Plunge 58% from Previous Month
- Expected to Decline Further... Priority Needed for Pre-Sale Locations

The number of newly supplied houses is decreasing due to interest rate burdens and market deterioration. Additionally, as future supply becomes more difficult and housing permits decline, there are forecasts that house prices will actually rise, leading to movements to secure units in the current pre-sale market.

According to data from the Ministry of Land, Infrastructure and Transport, the nationwide housing permit volume in October this year was 18,047 units, a 58.1% decrease from the previous month. The cumulative permits up to October totaled 273,918 units, down 36.0% compared to the same period last year. In October alone, apartment permits were 14,864 units, down 62.5% from the previous month, and non-apartment permits were 3,183 units, a decrease of 8.1%.

This is because housing supply is not easy due to rising raw material prices. Project stakeholders are also deeply concerned. The basic construction cost has been raised three times this year, and overall construction costs, including prices of building materials and labor costs, have risen sharply, causing construction costs to soar to more than half of the pre-sale price. According to construction industry insiders, it is difficult to fully reflect the increased construction costs in the pre-sale price because doing so would raise the pre-sale price controversy and increase the risk of unsold units.

Industry experts say, “In the current real estate market where supply is decreasing and pre-sale prices are only expected to rise, buyers considering purchasing a home should secure their units before it is too late. Especially if considering a new apartment rather than an existing home, polarization may occur due to supply and demand laws, so securing a unit early is necessary.”

Accordingly, demand for complexes currently on pre-sale is hot. Particularly notable is the ‘Uiwang Centline Desiang’ constructed by Taeyoung Construction, which is located right in front of the planned Ojeon Station on the Indeogwon-Dongtan Line (Indong Line), allowing buyers to secure a premium, and its design, befitting the Desiang brand, is receiving favorable reviews.

Uiwang Centline Desiang is scheduled to begin first-come, first-served contracts from 10 a.m. on December 16.

The Indong Line is a railway approximately 39 km long connecting Indeogwon in Anyang to Dongtan in Hwaseong. Currently, sections 1 and 9 began construction in 2021, and contractors have been selected for the remaining sections, with construction imminent.

Meanwhile, Uiwang Centline Desiang is being introduced through the Ojeon 'Na' district redevelopment, consisting of five buildings from two basement floors to 38 floors above ground, totaling 733 units. Among these, 532 units with exclusive areas ranging from 37 to 98 square meters are available for general sale.

A model house is in operation, and gifts are being offered as part of an event for contract holders.

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