A panoramic view of Ulsan's cityscape seen from Hamwolsan, the city's guardian mountain. [Provided by Ulsan City]
A panoramic view of Ulsan's cityscape seen from Hamwolsan, the city's guardian mountain. [Provided by Ulsan City]

Ulsan has launched a set of housing stability measures in response to a sharp rise in apartment sale prices and jeonse deposits.

According to the Korea Real Estate Board's housing price trend survey, Ulsan's apartment sale prices rose 2.18 percent from January to June this year, the highest increase among major regional cities outside Seoul and the greater metropolitan area. Jeonse deposits climbed 2.82 percent over the same period, outpacing the national average of 2.05 percent. By district, Buk-gu posted a 3.66 percent gain and Nam-gu rose 3.31 percent. Monthly rent also increased 2.09 percent.

The surge was attributed to tighter project financing loan regulations, a slump in the construction sector and concentrated demand in preferred neighborhoods. The city's public rental housing supply rate of just 5.9 percent also contributed.

In response, Ulsan plans to work with the Ulsan Urban Corporation and Korea Land and Housing Corporation to supply 6,671 units of public housing for youth, newlyweds and vulnerable residents in phases through 2030. The city also intends to convert privately pre-sold housing projects into publicly supported private rental housing, and to revise its urban renewal master plan and related regulations to speed up redevelopment and reconstruction projects.

Alongside this, the city plans to monitor market trends by analyzing actual transaction prices and lease registration data, and to respond to supply-demand imbalances as they emerge.

Ulsan expects housing market instability to ease gradually in the second half of this year as new apartment move-ins come online. Scheduled unit deliveries are: 4,327 units in the second half of this year, 3,910 units in 2027 and 7,601 units in 2028.


cityblue@heraldcorp.com