Jusan-yeon, Nationwide Housing Market Outlook Falls in September... "Monitoring Needed"

[Asia Economy Reporter Ryu Taemin] The housing business operators' outlook for the move-in market declined in all regions nationwide.

According to the Korea Housing Industry Research Institute on the 9th, the September nationwide Housing Occupancy Sentiment Index (HOSI) forecast dropped 16.4 points from last month to 85.0. HOSI is an indicator that housing suppliers comprehensively assess the move-in conditions of apartment complexes that are about to be occupied or are currently being occupied. A value above the baseline of 100 indicates favorable move-in conditions, while a value below suggests deterioration.

By region, the metropolitan area recorded 94.5, and provincial areas 82.9, falling by 12 points and 17.4 points respectively. Metropolitan cities and provinces also fell by 18.6 points and 16.4 points, recording 87.7 and 79.4 respectively. The August actual figures compiled this time also declined compared to the previous month and did not meet the August forecast.

By region, Incheon (95.8), Gyeonggi (94.4), Seoul (93.3), Daejeon (92.3), Ulsan (90.9), Sejong (90.0), Busan (89.5), Gyeongbuk (86.7), Daegu (85.0), and Jeonbuk (80.0) were recorded, with all regions except Chungnam (100.0) below the baseline (100). Jeju recorded a score in the 60s. Most regions have returned to last year's levels.

Last month's HOSI actual figure was 82.2, down 18.0 points from the previous month's actual figure. By company size, the forecast for large companies dropped 25.0 points from the previous month to 77.1, while mid-sized companies fell 7.1 points to 93.5. Mid-sized companies showed levels exceeding previous years, while large companies maintained last year's level.

A representative from the Korea Housing Industry Research Institute stated, "The move-in market outlook in all regions declined compared to last month, adjusting to the level before the booming first half of this year," adding, "It is not a level to be overly concerned about, but monitoring changes is necessary."