Next Year’s Private Apartment Sales to Reach 260,000 Units... About 75% of Usual Levels

26,500 New Housing Units for Sale Next Year
75% of the 5-Year Average
Actual Supply May Decrease Further

The supply of private apartment units for sale next year is expected to be around 265,000 units. This is about 75% of the average over the past five years.

[Image source=Yonhap News]

According to major media on the 25th, a survey of private apartment (including private rental) sales plans shows that 265,439 units will be sold across 268 projects nationwide next year. This is about 75% of the five-year annual average (355,524 units) from 2019.

Many units have not yet set a specific sales schedule, so the actual number of units sold may be even lower. Among the apartments planned for sale next year, 86,684 units have not yet finalized their sales timing. This year, only 185,261 units, or 72% of the originally planned amount, were actually sold. The carryover units included a large number of major reconstruction and redevelopment apartments such as Raemian One Perla (1,097 units) in Bangbae-dong, Seocho-gu, Seoul.

By region, the metropolitan area accounts for 141,100 units, and other provinces account for 124,339 units. Gyeonggi-do has the highest number with 74,623 units, followed by Seoul with 44,252 units and Incheon with 22,225 units. In the provinces, Busan had 22,710 units, Gwangju 20,161 units, Daejeon 13,138 units, and Chungnam 12,503 units. The planned sales periods are concentrated in January (23,810 units) and October (21,188 units).

Among the top 10 construction companies, only three have planned sales volumes exceeding 20,000 units: Lotte Construction (22,299 units), Hyundai Construction (22,778 units), and POSCO E&C (20,294 units). Only two of the top 10 construction companies have increased their planned sales volumes compared to this year.

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