Daejeon City to Supply 20,000 New Housing Units This Year

Daejeon City will newly supply 20,000 housing units this year.

On the 17th, Daejeon City announced that it plans to newly supply 18,097 apartment units, 89 multi-family and row houses, and 2,092 single-family and multi-household houses within the year.

Among the apartment supply, 15,164 units are for sale, accounting for 84% of the total. By supply method, private construction leads with 13,502 units (74%), followed by redevelopment projects with 3,396 units (19%) and public construction with 1,199 units (7%).

Last year, more than half of the housing supply was achieved through redevelopment projects. However, this year, supply in large-scale housing development areas stands out. For example, this year, 6,843 apartment units will be supplied in 7 complexes in the Doan Phase 2 area. According to Daejeon City, this is the first supply in two years since 1,754 units were supplied in Doan Phases 2 and 3.

However, considering that housing market stagnation may cause project implementers to hesitate in the timing of housing sales, Daejeon City expects that the actual new housing supply volume this year may be somewhat less than originally planned.

Park Pil-woo, Director of the Urban Housing Bureau of Daejeon City, said, “Housing supply not only helps stabilize citizens’ living conditions but also contributes to revitalizing the local economy, so a certain amount of supply is essential. Although project implementers are facing difficulties in housing supply due to the recent housing market downturn, we hope that this year will provide an opportunity for a rebound.”

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