28,000 Nationwide Households for General Sale in August... "July Supply Massively Delayed Due to Pre-Subscription"

[Asia Economy Reporter Onyu Lim] Due to the impact of the metropolitan area pre-sale, the July supply schedule was largely postponed, resulting in about 28,000 households being offered for general sale nationwide in August.

According to Zigbang on the 2nd, among 49 complexes with a total of 35,177 households in August, 28,241 households are preparing for general sale. Compared to the same period last year, the total number of households is expected to increase by 12,764 (57%), and general sales by 11,810 households (72%).

The increase in supply volume in August appears to be due to the first round of pre-sale held in the metropolitan area starting from the 16th of last month. The complexes scheduled for sale in July, surveyed at the end of June, were 64 complexes with a total of 47,150 households, including 42,140 for general sale, but the re-survey showed that only 41 complexes with a total of 26,367 households (supply performance rate 56%) and 20,638 households for general sale (supply performance rate 49%) were actually sold.

A Zigbang official said, "Pre-sales subject to the price ceiling system are supplied at relatively affordable prices, attracting high interest from applicants on the waiting list," adding, "It seems that some apartments that were preparing for sale in July postponed their sale schedules to August or later to avoid pre-sale."

Since there will be three more rounds of pre-sale, which attract great interest from applicants on the waiting list, from October to December, it is expected to act as a variable in the application schedule for private sale projects.

Among the 35,177 households supplied nationwide in August, 22,167 households are preparing for sale in the metropolitan area. Gyeonggi-do plans the largest supply with 19,419 households. In the provinces, 13,010 households are planned for sale, with Gyeongsangnam-do expected to have the largest supply with 3,686 households.

In Seoul, 3 complexes with 750 households are preparing for sale.

◆ ePyeonhansesang Gangil Urban Bridge in Sangil-dong, Gangdong-gu, Seoul = ‘ePyeonhansesang Gangil Urban Bridge,’ developed by Godeok Gangil 10 PFV and constructed by DL E&C, is located at 554-38 Sangil-dong, Gangdong-gu, Seoul. All 593 households are for general sale, consisting of 84~101㎡ (exclusive area).

In Gyeonggi-do, 18 complexes with 19,419 households are preparing for sale.

◆ Hillstate Gwanggyo Jungang Station First in Iui-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do = ‘Hillstate Gwanggyo Jungang Station First,’ developed by Gyeonggi Urban Corporation and constructed by Hyundai Engineering & Construction, is located at 177-16 Iui-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do. All 211 households are for general sale, consisting of 60~84㎡.

◆ Gwacheon Knowledge Information Town Linfamilier in Galhyeon-dong, Gwacheon-si, Gyeonggi-do = ‘Gwacheon Knowledge Information Town Linfamilier,’ developed by LH Korea Land & Housing Corporation, Woomi Construction, and Shindong-A Construction, and constructed by a consortium of Woomi Construction and Shindong-A Construction, is located in Block S8 within Gwacheon Knowledge Information Town, Galhyeon-dong, Gwacheon-si, Gyeonggi-do. Of the total 659 households, 545 are for general sale, consisting of 46~84㎡.

In Incheon, 5 complexes with 1,998 households are preparing for sale.

◆ City OCEEL 4 Complex in Hakik-dong, Michuhol-gu, Incheon = ‘City OCEEL 4 Complex,’ developed by DCR and constructed by a consortium of HDC Hyundai Development Company, Hyundai Engineering & Construction, and POSCO Construction, is located at 595-28 Hakik-dong, Michuhol-gu, Incheon. All 428 households are for general sale, consisting of 74~101㎡.

In the provinces, relatively many new apartments are expected to be supplied mainly in Gyeongsangnam-do (3,686 households), Chungcheongnam-do (2,982 households), and Busan (1,652 households).