▲ Status of nationwide apartments scheduled for occupancy from March to May 2020 (Provided by the Ministry of Land, Infrastructure and Transport)
[Asia Economy Reporter Chunhee Lee] Next month, the pre-sale rights market in Seoul will close. This is because Mokdong Central I-Park Weave, the last complex in Seoul where pre-sale rights are transferable, will begin occupancy next month. Over the three months from March to May, about 10,000 households, including this complex, will move into their new homes in Seoul. This is a 90.3% increase compared to the average occupancy volume during the same period over the past five years.
On the 25th, the Ministry of Land, Infrastructure and Transport announced that the number of apartments scheduled for occupancy in Seoul over the three months from March to May this year is 10,423 units. Nationwide, the number of apartments scheduled for occupancy is 75,840 units, which is a 1.7% decrease compared to the five-year average of 77,000 units.
About half of the occupancy volume in Seoul is accounted for by 'Mokdong Central I-Park Weave' (3,045 units) in Sinwol-dong, Yangcheon-gu, and 'Nokbeon Station e-Pyeon Saeng Castle 2nd Phase' (2,569 units) in Eungam-dong, Eunpyeong-gu.
Mokdong Central I-Park Weave, scheduled for occupancy next month, is entering occupancy under a new name, having changed from 'Sinjeong New Town I-Park Weave.' Once occupancy of this complex is completed, the pre-sale rights market in Seoul will close. This is because the government implemented restrictions on the transfer of pre-sale rights in the Gangnam 4 districts with the November 3, 2016 measures and expanded these restrictions to the entire Seoul area with the June 19, 2017 measures. This complex avoided the regulations by issuing the occupancy recruitment announcement before the June 19 measures were announced.
Recently, the government has been continuously strengthening regulations on pre-sale rights, setting areas such as Paldal-gu in Suwon-si, Gyeonggi Province, and Hanam, Namyangju, Goyang (private land), and Giheung-gu in Yongin-si as non-transferable regions until occupancy, although pre-sale rights were previously transferable six months after the winner announcement.
Looking at the monthly schedule, in addition to Mokdong Central I-Park Weave next month, complexes such as 'Baekryeonsan Haemoro' (760 units) in Eungam-dong, Eunpyeong-gu, and corporate rental housing with 499 units in Chungjeongno 3-ga, Seodaemun-gu, built as station-area youth housing, will welcome occupants.
In April, 'Sinbanpo Central Xi' (757 units) in Jamwon-dong, Seocho-gu, and 'Lotte Castle New Stay' (499 units) in Mullae-dong 6-ga, Yeongdeungpo-gu, will have move-ins. Following that, in May, occupancy is scheduled for Nokbeon Station e-Pyeon Saeng Castle 2nd Phase and 'Central I-Park' (802 units) in Dangsan-dong 5-ga, Yeongdeungpo-gu.
Elsewhere in the metropolitan area, in March, 'Jungheung S-Class' (951 units) in Goyang Hyangdong A-2 Block, Deogyang-gu, Goyang-si, Gyeonggi Province, will be completed. In April, 'Gwacheon Prugio Summit' (1,571 units) in Jungang-dong, Gwacheon-si, will welcome occupants. This apartment was supplied as post-sale and occupancy will occur just nine months after its supply in July last year. In May, 'Central Prugio' (2,003 units) and 'Daeya Station Doosan We’ve The Park' (1,382 units) in Daeya-dong, Siheung-si, are scheduled to be occupied simultaneously.
Regarding the size of housing supplied in Seoul, 6,026 units are 60㎡ or less (exclusive area), 3,894 units are between 60 and 85㎡, and 503 units exceed 85㎡, with small and medium-sized units under 85㎡ accounting for 95.2% of the total 10,423 units. Nationwide, small and medium-sized units account for 92.9% (70,464 units) of the 75,840 units.
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