About 16,500 Households Nationwide for Sale in February... Public Sale Housing 'New Home' Also Supplied

[Asia Economy Reporter Kwak Min-jae] Approximately 16,500 apartment units are scheduled to be sold nationwide in February. With growing expectations for market stabilization due to the large-scale deregulation measures introduced by the government, construction companies are also setting their sales schedules. In particular, interest from buyers is expected to increase as the pre-sale of the public housing under the ‘New Home’ brand, which is priced lower than market rates, begins.

[Image provided by RealToday]

According to Real Today, a real estate research firm, about 20,156 units (including special pre-sale supply, rental units included, officetels excluded, based on first-priority subscription) will be supplied across 24 locations nationwide in February. Among these, the general sale volume is 16,539 units. By city and province, Gyeonggi Province accounts for the largest share with 6,131 units (9 locations, 37.07%), followed by Gyeongnam with 1,759 units (2 locations, 10.64%), and Chungbuk with 1,515 units (2 locations, 9.16%). Seoul has 954 units (2 locations, 5.77%). In the metropolitan area, brand-name apartments in Dongtan 2 New Town will be offered, and sales will continue in urban development zones close to the city center.

[Image provided by RealToday]

In particular, the public housing promised by President Yoon Seok-yeol will begin full-scale supply next month under the ‘New Home’ brand. The pre-sale quantities for New Home are ▲500 units in Seoul Godeok Gangil Complex 3 ▲877 units in Goyang Changneung ▲549 units in Yangjeong Station area ▲372 units in Namyangju Jinjeop 2, totaling 2,298 units. Demand is expected to concentrate in Goyang Changneung, where the GTX-A line is planned, and Godeok Gangil in Seoul’s city center.

The subscription conditions for the pre-sale are as follows: for youth type, monthly income up to 140%, net assets (individual basis) up to 260 million KRW; for newlyweds, monthly income up to 130% (140% for dual-income), net assets up to 340 million KRW; for first-time homebuyers, monthly income up to 130%, net assets up to 340 million KRW.

A Real Today official stated, “In February, when supply expansion officially begins, the government-led ‘New Home’ pre-sale, along with new sales in Dongtan 2 New Town and urban development zones in the metropolitan area and provinces, stand out. These areas will have systematically developed convenience, transportation, and school districts, making residential convenience high.”