"Let's Hurry Before Pre-Subscription"... Over 20,000 Houses for Sale in the Seoul Metropolitan Area in June

[Asia Economy Reporter Im On-yu] Ahead of the 3rd phase new town pre-sale, about 22,200 households will be offered in the metropolitan area in June.

According to Zigbang on the 7th, 45,059 apartment units nationwide are preparing for sale this month. Among them, 34,448 units are for general sale. Compared to June last year, the total number of units increased by 58% (16,474 units), and general sales increased by 79% (15,213 units).

In the metropolitan area, 22,205 units will be supplied. Gyeonggi-do plans the largest supply with 12,069 units. Mammoth-sized large complexes have postponed their sale schedules, so the units originally scheduled for sale last month are expected to be concentrated this month.

It is also analyzed that the pre-sale schedule for the 3rd phase new towns will affect the sale schedule. Ham Young-jin, head of Zigbang Big Data Lab, explained, “Starting next month, pre-sales will be implemented beginning with Incheon Gyeyang New Town,” adding, “As the pre-sale, which will resolve the waiting demand of non-homeowners for subscription, approaches, the sale schedules of complexes preparing for June sales may also be affected.”

Major sale complexes include ‘Raemian One Bailey’ in Banpo-dong, Seocho-gu, Seoul; ‘Pyeongchon Trizia’ in Hogye-dong, Dongan-gu, Anyang-si, Gyeonggi-do; ‘Raemian Forestige’ in Oncheon-dong, Dongnae-gu, Busan; and ‘Yonggye Station Prugio Arts Ver 1 and 2 complexes’ in Yonggye-dong, Dong-gu, Daegu.

Meanwhile, with the amendment of the Housing Supply Regulations on the 28th of last month, the eligibility criteria for non-priority subscription applicants have been strengthened to require them to be non-homeowners residing in the relevant area. In addition, if selected for non-priority units supplied in regulated areas, the same re-subscription restrictions as general subscriptions will apply (10 years in speculative overheated districts, 7 years in adjusted target areas).