[Asia Economy Reporter Kim Min-young] In October, a total of 59,911 apartment units nationwide began pre-sale. This is a 237% increase (42,120 units) compared to the same period last year. Attention is focused on whether the pre-sale market can revive as the designation of regulated areas was lifted in local and outer metropolitan areas last September.
According to real estate platform company Zigbang on the 4th, as of October, a total of 59,911 units across 71 complexes nationwide are being pre-sold. Among them, 47,534 units are for general pre-sale. Compared to the same period last year, these figures represent increases of 237% (42,120 units) and 190% (31,151 units), respectively.
In the metropolitan area, 30,508 units are preparing for pre-sale. Gyeonggi Province plans the largest supply with 20,414 units. In local areas, 29,403 units are planned for pre-sale. Notably, 9,602 units will be supplied in Chungcheongnam-do. The number of units supplied in areas where the designation of regulated areas was lifted this time accounts for 31% of the nationwide planned supply.
Earlier in September, the Ministry of Land, Infrastructure and Transport lifted the designation of regulated areas in local regions except for Sejong City. As a result, limits on mortgage loans have increased, and regulations related to pre-sale rights such as resale restrictions and first-priority subscription qualifications have been eased.
Ham Young-jin, head of Zigbang Big Data Lab, analyzed, "There are cases where existing resale restrictions remain due to the application of the pre-sale price ceiling system or resale restrictions in private land, so the increase in pre-sale rights transactions may be limited. Since there is a possibility of interest rate hikes in October and November, and the recent trend shows poor performance compared to planned pre-sales, it is uncertain whether the pre-sale market can recover immediately."
In Seoul, 6,612 units across 8 complexes have entered pre-sale. Notably, ‘Mapo The Classy,’ which is reconstructing the Ahyeon 2 district housing, is being constructed by a consortium of SK Ecoplant and HDC Hyundai Development Company. Among the total 1,419 units, 53 units are for general pre-sale, consisting of exclusive areas ranging from 43 to 84㎡.
In Gyeonggi Province, supply is planned for 20,414 units across 19 complexes. ‘Cheolsan Xi The Heritage,’ which is reconstructing Cheolsan Jugong 8 and 9 complexes, is being constructed by GS Construction. Among the total 3,801 units, 1,640 units are for general pre-sale. The exclusive area ranges from 59 to 134㎡.
In Incheon, 3,482 units across 7 complexes are entering pre-sale. ‘Yeongjong International City A26BL Jeil Punggyeongchae D Ocean,’ developed by Incheon Yeongjong 1st PFV and constructed by Jeil Construction, has all 670 units for general pre-sale. The exclusive area ranges from 84 to 116㎡.
In local areas, relatively many new apartments will be supplied mainly in Chungcheongnam-do (9,602 units), Daejeon City (5,546 units), and Gyeongsangnam-do (3,146 units).
Meanwhile, an analysis of September pre-sale performance by Zigbang showed that the planned pre-sale complexes were 71 with a total of 47,105 units, including 40,791 units for general pre-sale. Upon re-investigation, actual pre-sales were conducted in 24 complexes with a total of 18,589 units (supply performance rate 39%) and 13,357 units for general pre-sale (supply performance rate 33%).
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