39,000 New Homes Scheduled for Sale Next Year... "44,000 Homes in Seoul"

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[Asia Economy Reporter Yuri Kim] The number of housing units scheduled for sale next year is estimated to approach 400,000 units.

According to Real Estate 114 and others on the 31st, a total of 390,854 units are planned to be sold across 407 projects nationwide. This is about 100,000 units more than the average private apartment sales performance over the past five years (2016?2020), which was 286,071 units.

Looking at the monthly sales schedule for 2021, there is a significant volume in January (44,957 units) and July (32,145 units), which are considered off-seasons. This reflects a trend where sales schedules are determined regardless of peak or off-peak seasons due to policy changes and COVID-19 issues. By quarter, 113,374 units are planned for Q1, 70,510 units for Q2, 83,094 units for Q3, 47,224 units for Q4, and 76,652 units are scheduled for an unspecified time.

By region, the planned sales volume for 2021 is 206,651 units in the metropolitan area and 184,203 units in provincial areas. In the metropolitan area, Gyeonggi Province has the largest volume with 112,134 units, followed by Incheon with 49,795 units and Seoul with 44,722 units. In the provinces, Daegu has the highest volume with 31,103 units. Other areas include ▲Busan 25,817 units ▲Chungnam 19,460 units ▲Daejeon 19,401 units ▲Gyeongnam 17,801 units ▲Gyeongbuk 15,770 units ▲Gwangju 12,872 units ▲Chungbuk 12,534 units ▲Gangwon 8,160 units ▲Jeonnam 7,927 units ▲Jeonbuk 6,561 units ▲Ulsan 3,693 units ▲Sejong 2,700 units ▲Jeju 404 units in order.

By type, sales through self-managed projects (including contracting) account for the largest share with a total of 226,587 units (58%). Redevelopment and reconstruction apartments are expected to make up about 36% (142,232 units) of the total planned sales volume.

In Seoul, there are many notable maintenance project volumes. Including units delayed from the original schedule due to difficulties in determining sale prices, such as 12,032 units at 'Dunchon Jugong' in Gangdong-gu and 2,990 units at 'Raemian One Bailey' in Seocho-gu, promising projects such as 1,131 units at 'Bangbae 6 District' in Seocho-gu, 2,004 units at 'Jangwi 10 District' in Seongbuk-gu, and 2,636 units at 'Jamsil Jinju' in Songpa-gu are expected to be supplied.

In Gyeonggi Province, redevelopment volumes are expected to attract attention. Projects such as 7,273 units at 'Gwangmyeong 2, 5, 10R Districts' in Gwangmyeong City, 2,175 units at 'Suwon Gwonseon 6 District' in Suwon City, 2,607 units at 'Jangan 111-1', and 980 units at 'Hanam C District' in Hanam City are preparing for supply. Additionally, in new towns within Gyeonggi, 6,123 units in Paju Unjeong and 2,979 units in Yangju Okjeong are planned for supply. In Incheon, the volume in Geomdan New Town and urban development projects stand out. Geomdan plans to sell 11,785 units, and a total of 2,536 units will be supplied through Yonghyeon Hakik urban development in City O'ciel 1, 3, and 4 complexes.

In the provinces, many redevelopment and reconstruction apartment sales plans are centered around metropolitan cities. Projects such as 4,043 units at 'Raemian Forestage' in Dongnae-gu, Busan, 1,299 units at 'Suseong The Palace Prugio The Sharp' in Suseong-gu, Daegu, and 2,314 units at 'Gwangju Hakdong 4 District' in Dong-gu, Gwangju are planned for supply.

Seon Juhee, chief researcher at Real Estate 114, said, "It is important to note that some sales-related regulations will change starting in 2021. Income requirements for special supply for newlyweds and first-time homebuyers will be relaxed, expanding the general supply volume within special supply. It is also important to pay attention to the fact that housing under the price ceiling system requires a minimum residence period of two years." Meanwhile, pre-sale applications for the 3rd phase new towns will begin in July 2021, and pre-sale applications will also be conducted for small and medium-sized public land not included in the 3rd phase new towns.

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