Next Year's Seoul Housing Supply Hits 20-Year Low... Spotlight on 'Namguro Station Dongsil Centasia'

- Full Interest-Free Benefit on Intermediate Payment for 'Namguro Station Dongil Centasia'
- No Obligation for Actual Residence and Transferable After Contract, Drawing Attention

Next year’s apartment supply in Seoul is expected to be the lowest in 20 years, raising concerns about a potential rise in housing prices due to the shortage.

According to Real Estate R114, the supply for next year is estimated at 10,921 units, the lowest since related statistics began in 2000. This is only about one-third of this year’s 32,795 units.

With decreases in permits and construction starts, the supply shortage is expected to continue. The Ministry of Land, Infrastructure and Transport reported that cumulative housing permits in Seoul through August totaled 19,370, and cumulative construction starts were 14,391, down 37.6% and 69.3% respectively compared to the same period last year.

Real estate experts pointed out, “The supply shortage issue continues mainly in the metropolitan area,” and “this is likely to be a cause of rising housing prices.”

They added, “Since there is sufficient cause for housing price increases, if you are preparing to buy a home in Seoul, targeting pre-sold apartments could be a strategic option,” explaining, “Pre-sold apartments tend to have faster move-in times and relatively lower prices.”

Amid this atmosphere, a highly scarce small-scale new complex in the Garibong-dong area of Guro-gu, Seoul, where redevelopment is actively underway, is attracting attention. This is because various financial benefits reduce the burden on buyers.

‘Namguro Station Dongil Centasia’ consists of 3 buildings with a total of 162 units, ranging from 33.64㎡ to 67.94㎡ in exclusive area (44.24㎡ to 89.49㎡ in supply area), spanning from basement level 2 to ground level 7.

‘Namguro Station Dongil Centasia’ will hold a non-priority subscription on December 11, and anyone residing in Korea who is an adult can apply regardless of whether they have a subscription savings account or own a home.

A sales representative for ‘Namguro Station Dongil Centasia’ said, “Seoul’s housing supply has noticeably decreased, and with the mandatory zero-energy building requirements starting next year expected to increase construction costs by up to 30%, a rise in sale prices is inevitable. The recent failure of the Housing Act amendment to abolish the occupancy requirement during the regular National Assembly session has increased interest in ‘Namguro Station Dongil Centasia,’ which has no occupancy requirement and allows immediate resale after contract.”

‘Namguro Station Dongil Centasia’ is a highly scarce small-to-medium sized complex in Seoul, offering the advantage of significantly reducing initial financial burdens. It minimizes buyers’ financial strain through various contract benefits including full interest-free intermediate payments. For first-time homebuyers and newlyweds, loans covering 80% of the price (with low interest rates of 1.85% to 3%) are available, along with benefits such as full interest-free intermediate payments, free balcony expansion, and provision of home appliances.

Notably, the nearby Garibong Central 1 District and Garibong 2 District have been selected as candidates for Seoul’s Rapid Integrated Planning, and with ongoing reconstruction and redevelopment projects in Garibong-dong, this complex is expected to directly benefit in the future.

The complex is located about a 4-minute walk from Namguro Station on Line 7, a prime station area, and is also close to Guro Digital Complex Station on Line 2 and Gasan Digital Complex Station on Line 1. It is within walking commuting distance to G-Valley (Guro and Gasan Digital Complex), which employs about 150,000 people, indicating abundant demand in the area.

Within 100 meters of the complex’s main entrance are an elementary school and an attached kindergarten. The complex applies energy-saving systems, installs noise-reducing materials between floors, uses eco-friendly finishing materials, features stone finishes on all floors for a premium exterior, installs bidets in shared bathrooms, and incorporates solar power generation, daylighting systems, rainwater recycling storage systems, and high-efficiency LED lighting. It is a car-free apartment on the ground level and provides 100% self-parking spaces across two basement levels.

Additionally, community facilities such as a fitness center, small library, YouTube filming studio, GX room, multi-room, and senior center will be available.

Meanwhile, the housing information center is located near Bongcheon Station in Gwanak-gu, Seoul.