[Practical Finance] Remaining Time in the First Half of the Year, Where Are the 40,000 Households Hosting 'Jipdeuri' in the Seoul Metropolitan Area?

Seoul, Preference for New Constructions Remains Despite Transaction Freeze
Large Apartment Complexes in Gyeonggi Area Move in One After Another

[Asia Economy Reporter Yuri Kim] "Rapid rise in Seoul housing prices and spread to the metropolitan area, expansion of regulations and matching with non-regulated areas." As 2020 passes two months, the real estate market is showing different atmospheres by region. Experts predict that the remaining 40,000 or so houses to be moved into in the metropolitan area in the first half of this year will also face different phases depending on the regional situation.

According to Real Estate 114 on the 9th, the total number of scheduled move-ins in the metropolitan area, including Seoul, Incheon, and Gyeonggi, from March to June this year is 40,558 households. In Seoul, 123,195 households will be moving in.

In Seoul, although a transaction cliff has occurred due to loan regulations on ultra-high-priced apartments exceeding 1.5 billion KRW, the preference for new constructions remains strong. In Seoul, large complexes such as Mokdong Central I-Park Weave in Sinwol-dong, Yangcheon-gu (3,045 households), which starts move-ins this month, Eunpyeong-gu's Nokbeon Station e-Pyeonhansesang Castle 1st phase (2,451 households) and 2nd phase (118 households) in May, Songpa-gu's Geoyeodong e-Pyeonhansesang Songpa Park Central (1,199 households) in June, and Eunpyeong-gu's Susaek-dong DMC Lotte Castle The First (1,192 households) are scheduled for move-ins. The Shinbanpo Central Xi in Jamwon-dong, Seocho-gu (757 households) and Dangsan Central I-Park in Dangsan-dong 5-ga, Yeongdeungpo-gu (802 households), which are planning move-ins next month, are also complexes of great market interest.

In the Gyeonggi area, large apartment complexes are planned to move in one after another starting next month. The most notable is Gwacheon Central-dong Gwacheon Prugio Summit (1,571 households). In Gwacheon, the previously soaring jeonse (long-term deposit lease) prices are showing a downward trend. According to the Korea Real Estate Agency's data as of the 24th of last month, the jeonse price in Gwacheon fell by 0.15% compared to the previous week, continuing a weak trend for four consecutive weeks. Experts analyze that the jeonse price weakness will continue for the time being due to the move-ins of major large complexes such as Gwacheon Prugio Summit, fatigue from the previous rapid rise in jeonse prices, and considerations of expanding eligibility requirements for first-priority subscription.

In addition, in the Gyeonggi area, large complexes such as Namyangju-si Pyeongnae-dong Pyeongnae Hopyeong Station Daemyung Lucen River Park (1,008 households) and Yangju-si Okjeong-dong e-Pyeonhansesang Yangju New Town 4th phase (A19, 2,038 households) are preparing for move-ins in June.

In Suji-gu, Yongin, where a designation as a speculative overheating district was recently expected due to the rapid rise in apartment prices, Dongcheon The Sharp East Foret (980 households) in Dongcheon-dong will move in this month, and Seongbok Station Lotte Castle Park Nine (1st complex, 534 households) in Seongbok-dong will move in in June. In Seongnam-si, which was grouped with Yongin and Suwon as the rapidly rising metropolitan area 'Suyongseong (Suwon, Yongin, Seongnam),' Seongnam Godeung District Jeil Punggyeongchae (S1, 543 households) in Godeung-dong, Sujeong-gu will start move-ins in April.

In Incheon, Songdo International City Hoban Verdiium 3rd phase Edu City (1,530 households) in Songdo-dong, Yeonsu-gu is preparing for move-ins in June. This area is a non-regulated area in the metropolitan area, so regulations on loans, subscriptions, and resale are less strict, and recently, premium-added pre-sale rights transactions have been taking place. The 75㎡ exclusive unit in this complex was traded last month at 568.6 million KRW, more than 170 million KRW higher than the pre-sale price.