Private Apartment Supply in South Korea Reaches 15,182 Units in June, Doubling from Previous Month

The supply of private apartments in June more than doubled compared to the previous month, as projects that had been delayed ahead of the June 3 local elections were finally released.

According to an analysis of data from the Korea Real Estate Board's subscription website, CheongyakHome, by Real House, a firm specializing in presale evaluations, a total of 15,182 private apartment units were newly supplied across 27 complexes nationwide in June.

This represents a 108.4% increase from the 7,284 units supplied in May. While the number of complexes was similar to the 26 recorded in the previous month, the total supply increased due to the inclusion of six large-scale complexes with over 1,000 units each.

The largest supply came from the The Sharp Geomdan Lake Park complexes in Incheon's Geomdan New Town, with AB22 (1,454 units) and AB23 (1,403 units) totaling 2,857 units. Other large-scale projects included Pentahills W Complex 1 in Gyeongsan, Gyeongsangbuk-do (1,712 units), Buk-Osan Xi Deforet in Osan, Gyeonggi-do (1,517 units), and Gimhae Sinmun Central IPARK in Gimhae, Gyeongsangnam-do (1,379 units).

In Seoul, the Jangwi Prugio Mark One in Seongbuk-gu (1,032 units) accounted for 85% of the total 1,209 general supply units.

The national average presale price per square meter for private apartments in June reached a record high, rising 0.25% from the previous month to 8.57 million won, based on a 12-month moving average.

By region, Jeju saw the largest increase, with prices rising from 6.94 million won to 8.55 million won, while Seoul saw a decrease from 24.22 million won to 23.50 million won compared to the previous month.

The presale price for a standard apartment (84 square meters of exclusive area) in Seoul also fell to 1.95423 billion won, down by approximately 160 million won from the previous month's 2.11608 billion won.

Kim Sun-ah, head of the presale analysis team at Real House, stated, "While supply has recovered as delayed presale schedules resumed, cost burdens remain high due to rising oil prices and exchange rates." She added, "Pressure for higher presale prices is expected to continue for the time being, particularly in areas with proven demand, such as Seoul and its surrounding regions."
※ Please note: This article was translated by AI and may contain errors.