About 30,000 Households Nationwide Scheduled for Move-In Next Month... Seoul to See Record High Move-In Volume in March

27,541 Households Begin Moving In
7,000 More Than Last Month
Metropolitan Area Supply Triples

In the moving season this March, more than 30,000 households nationwide will begin moving in. In Seoul, with move-ins starting mainly in large complexes, the volume of move-ins is expected to reach a record high for March.

According to Real Estate R114 on the 21st, a total of 58 apartment complexes with 27,541 households nationwide are expected to begin move-ins this March. This is about 7,000 households more than the previous month (4,645 households), analyzed to be due to a threefold increase in supply in the metropolitan area.

The move-in volume by region in the metropolitan area is △Gyeonggi 7,629 households △Seoul 5,218 households △Incheon 2,237 households. The move-in volumes in Gyeonggi and Seoul last month were 3,758 households and 484 households respectively, which increased by 2 times and 10 times compared to the previous month.

View of apartment buildings in downtown Seoul from Inwangsan Mountain, Seoul. Photo by Yonhap News.

Especially in Seoul, Real Estate R114's survey on nationwide apartment move-ins since 2000 shows that this March marks the highest volume for the same month. This is largely due to the start of move-ins in large complexes with over 1,000 households such as 'Jangwi Xi Radiant' (2,840 households) in Jangwi-dong, Seongbuk-gu, and 'Lotte Castle East Pole' (1,063 households) in Jayang-dong, Gwangjin-gu.

The move-in volume in provincial areas totals 12,457 households, which is a decrease of 44% and 22% compared to the same period last year (22,295 households) and the previous month (16,005 households), respectively.

By region, the largest move-in volumes are △Chungnam 1,920 households, △Jeonbuk 1,617 households, and △Busan 1,522 households. Major complexes include 'Baekyangsan Buam Seohee Starhills' (1,295 households) in Buam-dong, Jin-gu, Busan, 'Hillstate Dujeong Station' (997 households) in Dujeong-dong, Cheonan-si, Chungnam, and 'Jungchon SK View' (808 households) in Jungchon-dong, Jung-gu, Daejeon.

Kim Ji-yeon, lead researcher of the Real Estate R114 research team, said, "As fatigue builds up from rent prices rising for over a year, in the rental market, contracts that lower the deposit somewhat and increase the monthly rent may increase rather than pure jeonse (lump-sum deposit lease) contracts."

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