A Total of 28,819 Households Move In September... 13,832 Units Supplied in Provinces, the Highest Volume This Year

[Asia Economy Reporter Kim Min-young] In September, a total of 28,819 households, the highest monthly volume this year, are scheduled to move in. In the provinces, the largest monthly supply of the year will be provided, with new apartments starting to move in in metropolitan cities such as Busan, Daegu, and Gwangju. However, due to the impact of interest rate hikes leading to weakened demand, new apartment transactions are expected to be low, and the move-in market is also expected to remain quiet.

According to Zigbang on the 29th, the nationwide apartment move-in volume scheduled for September was counted at 28,819 households, 3% more than the previous month (27,952 households). In the metropolitan area, 14,987 households will move in, and 13,832 households in the provinces. The provinces will see the largest monthly supply this year, with new apartments starting to move in metropolitan cities such as Busan, Daegu, and Gwangju. In particular, Busan will have the largest supply this year, with five complexes starting move-ins, including two large-scale redevelopment complexes in Jin-gu. The metropolitan area’s move-in volume will decrease by 3% compared to the previous month, as new apartment move-ins decrease in Seoul (-23%) and Incheon (-66%), despite a roughly 47% increase in Gyeonggi Province.

By city and province, Gyeonggi Province is expected to have the highest move-in volume with 11,747 households, a 47% increase from the previous month. In Hwaseong, 4,154 households will be supplied, including three local housing association apartment complexes. Additionally, new apartment move-ins will proceed in Seongnam with 2,411 households and Goyang with 1,393 households. Busan has 6,589 households, Gwangju 3,364 households, and Incheon 1,916 households in order of move-in volume.

In the fourth quarter, about 70,000 apartment households are scheduled to move in. Although less than the third quarter (81,482 households), new apartment move-ins will begin evenly in both the metropolitan area and provinces.

However, due to interest rate hikes, the slowdown in the Chinese economy, and inflation shocks from Europe, the domestic housing market is sluggish, and the outlook for the move-in market is not bright. Ham Young-jin, head of Zigbang Big Data Lab, said, "With demand contraction, the housing market atmosphere is expected to remain bleak for the time being, and new apartment transactions are also expected to be low, so the move-in market is likely to remain quiet."

A total of 35 complexes will move in during September. In the metropolitan area, there are 18 complexes: 14 in Gyeonggi, 2 in Incheon, and 2 in Seoul. In the provinces, 17 complexes will start move-ins, including 5 in Busan, 4 in Daegu, and 5 in Gwangju.

Hillstate New Forest is a complex located in Sillim-dong, Gwanak-gu, Seoul, rebuilt from a Gangnam apartment. It consists of 1,143 households with exclusive areas of 82?84㎡. It is an ultra-station area complex located right in front of Guro Digital Complex Station on Subway Line 2. Move-ins begin in early September.

Shinheung Station Haneulchae Landers One is located in Jungang-dong, Jungwon-gu, Seongnam-si, Gyeonggi Province, redeveloped from Seongnam Jung 1 District. It consists of 2,411 households with exclusive areas of 51?84㎡. Shinheung Station on Subway Line 8 is within walking distance. Move-ins start at the end of September.

Hwaseong City Hall Station Seohee Star Hills Complexes 1, 2, and 3 are located in Sinnam-ri, Namyang-eup, Hwaseong-si, Gyeonggi Province. It is a local housing association complex with exclusive areas of 59?84㎡. Complex 1 has 1,131 households, Complex 2 has 1,005 households, and Complex 3 has 847 households, totaling 2,983 households. Move-ins start at the end of September.

Geomdan New Town Dietre The Hill is located in Wondang-dong, Seo-gu, Incheon. It consists of 1,417 households with exclusive areas of 75?109㎡. Move-ins begin at the end of September. Raemian Urban Park is located in Yeonji-dong, Busanjin-gu, Busan, consisting of 2,616 households with exclusive areas of 51?132㎡, and move-ins start at the end of September.