March Nationwide Subscription Applications for About 18,000 Households... Supply Also from Redevelopment Projects Due to Regulation Easing

In March, approximately 18,000 households nationwide are expected to receive subscription applications. Although expectations for a recovery in the housing market have grown as buying sentiment has somewhat revived following the ‘1·3 Real Estate Measures,’ construction companies are unable to finalize their sales schedules due to anticipated price increases in housing prices caused by rising raw material costs.

[Image provided by Real Today]

According to Real Today, a real estate research firm, 23,585 households (including pre-subscriptions, excluding officetels, based on first-priority subscriptions) will be supplied across 29 locations nationwide in March. Among these, the general sales volume is 17,687 households, slightly up from last month’s volume of 16,539 households.

The general sales volume in the metropolitan area is 10,781 households (60.95%), while the provinces account for 6,906 households (39.05%). By city and province, Gyeonggi has the largest share with 8,103 households (11 locations, 45.81%), followed by Busan with 2,384 households (2 locations, 13.48%), and Incheon with 1,539 households (3 locations, 8.70%). In Seoul, including the pre-subscription for Goduk Gangil Complex 3, a total of 1,139 households (6.44%) will be sold across 3 locations.

[Image provided by Real Today]

In particular, with regulations on loans and taxation significantly eased, major redevelopment projects are being supplied nationwide. In Seoul, ‘Yeongdeungpo Xi Dignity’ (185 households) in Yeongdeungpo-gu and ‘Centreville Asterium Signature’ (454 households) in Eunpyeong-gu are being offered through redevelopment and reconstruction, respectively. Additionally, three locations in Gyeonggi and one in Busan are redevelopment complexes, while ‘ePyeonhansesang Bongseon Celestige’ in Nam-gu, Gwangju is a reconstruction apartment complex.

A representative from Real Today stated, “Local governments nationwide, including Seoul, have begun actively easing regulations on redevelopment projects, so urban maintenance is expected to expand further. However, risks such as interest rate burdens and rising housing prices remain, so the recovery of the subscription market is expected to be slow for the time being.”