November Apartment Supply Plummets to 11,000 Units Nationwide, Just 488 in Seoul

New apartment supply nationwide is projected to remain sluggish next month, with only about 11,000 units scheduled for move-in.

According to Zigbang on the 19th, apartment units slated for move-in across the country in November total 11,559 units across 21 complexes.

This represents a 30% decrease compared to October (16,567 units) and a 49% drop from the same month last year (22,551 units).

In particular, the greater Seoul metropolitan area will see 4,031 units, down 49% from this month (7,924 units).

Move-in supply in Seoul, where housing prices continue to rise, is forecasted to reach a meager 488 units across 3 complexes.

All of these are small-scale complexes with fewer than 300 units supplied through urban redevelopment projects: Gaebong Louvre in Gaebong-dong, Guro-gu (295 units); Hongdae Station Central Arte Haemoro in Donggyo-dong, Mapo-gu (123 units); and Hanyang LEEPS in Sinwol-dong, Yangcheon-gu (70 units).

In Gyeonggi Province, 3,543 units across 6 complexes will become available for occupancy.

In Pyeongtaek, 1,604 units will be ready for move-in, including Pyeongtaek Prugio Centerpine (851 units) and Pyeongtaek Hwayang District Dongmun The East (6-2BL) (753 units) in Hwayang-myeong, Hyeondeok-myeon. In Icheon, 1,532 units will welcome new residents, including Geumseong Baekjo Yemiji in B3 Block of the Jungni District, Jungni-dong (1,009 units) and Icheon Station Shinan Invil Firstige in Jeungil-dong (523 units).

In regional areas outside the capital, 7,523 units across 12 complexes are scheduled for move-in, nearly double the volume of the greater Seoul area.

Scheduled supplies include 2,430 units in North Jeolla Province, 2,153 units in Ulsan, 1,067 units in Busan, and 763 units in North Gyeongsang Province.

An official from Zigbang stated, "Amid persistent increases in jeonse (lump-sum housing deposit) prices and a shortage of listings, the move-in of new apartments serves as an opportunity to supply new jeonse listings," adding, "The impact on the jeonse market will vary depending on the scale of move-in supply and its regional distribution."

(Photo provided by Zigbang, Yonhap News)
※ Please note: This article was translated by AI and may contain errors.