Korea Real Estate Board Releases Nationwide Apartment Move-in Volume
Collaboration with Real Estate R114... Accuracy Improved Reflecting Market Conditions
[Asia Economy Reporter Noh Kyung-jo] The supply of apartment move-ins nationwide, including Seoul, is expected to decrease next year compared to this year.
According to the Korea Real Estate Board and Real Estate R114 on the 31st, the nationwide scheduled apartment move-in volume for 2024 is estimated at 352,845 units, about 90,000 units less than this year's 442,977 units. During the same period, Seoul's figures were surveyed at 33,125 units → 28,627 units.
Among the 17 cities and provinces nationwide, the regions where the scheduled move-in volume is expected to increase next year compared to this year are ▲Gangwon (8,924 units → 10,657 units) ▲Chungbuk (13,524 units → 13,952 units) ▲Gyeongbuk (15,094 units → 22,960 units) ▲Gyeongnam (19,123 units → 20,357 units) ▲Gwangju (9,199 units → 9,883 units) ▲Daejeon (6,098 units → 19,086 units), totaling six locations. Other regions are expected to see a decrease in scheduled move-in volume.
Major apartments with changed move-in dates include The H Firstier I-Park (6,702 units) in Gangnam-gu, Seoul, which was postponed from the second half of this year to January next year. Olympic Park Foreon (12,032 units) in Gangdong-gu, which experienced construction delays, had its move-in date adjusted to January 2025.
The Korea Real Estate Board and Real Estate R114 explained that they improved accuracy by reflecting market conditions such as undecided move-in dates and construction delays. The scheduled apartment move-in volume is disclosed twice a year (January and July), providing information for the next two years from the disclosure date. Detailed data can be found on the Korea Real Estate Board’s Real Estate Statistics Information System R-ONE, Cheongyak Home, and the Public Data Portal.
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