Real Estate 114 'Issue R Report'
About 19,178 units set to move in nationwide in October
Greater Seoul area: 11,237 units; regional areas: 7,941 units
About 5,700 apartments are set to welcome new residents in Seoul next month, including Raemian Leventus in Dogok-dong, Gangnam-gu — the highest monthly move-in volume in the country.
Real Estate 114 said Monday that a total of 19,178 units across 41 complexes nationwide are scheduled for move-in in October this year, including rental units. In the greater Seoul metropolitan area, 11,237 units will be handed over — more than triple the 3,485 units recorded in the same period last year. Move-ins in regional areas, however, are expected to fall by about half compared to the same period last year, to 7,941 units.
In Seoul, 5,703 units across 10 complexes will open their doors — the highest monthly supply volume on record. The lineup includes redevelopment and reconstruction project complexes: Hillstate Mediallee in Daejo-dong, Eunpyeong-gu (2,451 units), Hillstate Deungchon Station in Deungchon-dong, Gangseo-gu (543 units) and Raemian Leventus in Dogok-dong, Gangnam-gu (308 units). More than 2,100 public rental units, including Happy Housing and Youth Safe Housing apartments, are also set to move in.
A large move-in volume can increase the supply of jeonse and monthly rent listings. Even so, with Seoul's jeonse shortage already severe amid rising sale prices, a meaningful stabilization in rental prices will be difficult to achieve.
"In some areas where move-in volumes are increasing, the new supply is expected to act as a welcome relief for the lease market," a Real Estate 114 official said. "But there are limits to how much it can ease price volatility and supply-demand anxiety across all of Seoul's jeonse and monthly rent market."
In Gyeonggi Province, move-in volume will drop by more than a third compared to the previous month, falling from 5,851 units to 3,700 units, a decline of 36.7 percent. The total of 3,700 units includes small-scale redevelopment complexes of fewer than 300 units in Gogang-dong, Ojeong-dong and Wonjong-dong in Ojeong-gu, Bucheon. In Incheon, two complexes totaling 1,834 units will receive new residents: Singeomdan Jungang Station Centreville in Bullo-dong, Geomdan-gu (1,224 units) and Geomdan Lake Park Station Punggyeongchae Urbanity (610 units).
In regional areas, 7,941 units are scheduled for move-in. By region, the breakdown is South Jeolla Province (3,365 units), Gwangju (1,588 units), Daejeon (749 units) and Daegu (729 units). Major complexes include Cheomdan Jeil Punggyeongchae Grand Foret in Jinwon-myeon, Jangseong-gun, South Jeolla Province (1,845 units), Hillstate Cheomdan Central (1,520 units), Wipark Ilgok Park in Samgak-dong, Buk-gu, Gwangju (1,004 units) and e-Convenience World Seodaejeon Station Centro in Munhwa-dong, Jung-gu, Daejeon (749 units).
hope@heraldcorp.com
