Gyeonggi-do's Record-Breaking Housing Sale Boom... "Need to Separate the Wheat from the Chaff"

With major real estate deregulation expected after the presidential election, an unprecedented volume of housing supply is anticipated this year in Gyeonggi-do, the largest pre-sale market.

According to Real Estate R114 on the 6th, a total of 146,673 households (excluding rentals) are scheduled for pre-sale in Gyeonggi-do this year. This represents an approximately 39.13% increase compared to last year's 105,420 households. It is the second-largest supply volume following the record high of 162,653 households in 2015. Construction companies that had postponed pre-sales ahead of the presidential election are also actively moving forward with sales.

However, following the transaction freeze and a slight slowdown in house price increases, the market is showing signs of intensified 'selection' among applicants. Notably, even in Seoul, known for its 'unbeatable' pre-sale competition, the competition rate has noticeably declined. According to Korea Real Estate Agency's Apply Home, the 'Hanwha Forena Mia' in Mia-dong (Samyang Intersection Special Planning Zone 3 redevelopment), which received first-priority applications the day before, attracted 2,374 applicants for 328 units, closing with a competition rate of 7.3 to 1. In the same area, the 'Buk Seoul Xi Polaris,' which held its pre-sale in January, had a first-priority competition rate of about 34 to 1.

Kwon Il, head of the research team at Real Estate Info, said, "With the new government launching this year, the real estate market atmosphere is expected to change, and a big market will open based on a large supply and demand compared to the previous year. However, since there will be a large supply in the future, it will be important to carefully select the best among them."