The nationwide apartment move-in outlook index for August edged down, affected by policy uncertainties such as heightened stock market volatility and tax reform proposals.

According to a survey of housing builders by the Korea Housing Industry Research Institute, the apartment move-in outlook index nationwide for August stood at 94.4, down 3.1 points from the previous month.

The move-in outlook index measures whether homebuyers will be able to properly pay their remaining balances and move into their apartments. A reading above 100 indicates a positive outlook on the move-in market, while a reading below 100 means a negative outlook is dominant.

The greater Seoul area as a whole recorded 89.4, down 13.2 points from the previous month.

Seoul fell 18.7 points to 100, Incheon dropped 5.4 points to 83.8, and Gyeonggi Province declined 15.7 points to 84.3.

This decline appears to have been influenced by a growing wait-and-see attitude in the market following the designation of additional regulated zones on June 1 in Dongtan-gu, Hwaseong; Giheung-gu, Yongin; and Guri in Gyeonggi Province.

While major metropolitan cities fell 9.4 points to 93.9, provincial areas rose 5.5 points to 96.8.

Among metropolitan cities in particular, only Gwangju saw its index rise by 6.7 points, which is interpreted as reflecting expectations for regional industrial revitalization and increased investment following the creation of the Honam Semiconductor Cluster.

(Photo courtesy of Korea Housing Industry Research Institute, Yonhap News)