Seoul in the Fall Moving Season... 'Jipdeuri' Increases by 40%

A Total of Over 20,000 Households... 2,600 Households in Seoul
Non-Capital Areas Led by Busan and Jeonbuk

The move-in volume in Seoul for September, the autumn moving season, is estimated to increase by 40% compared to the previous month.

According to Real Estate R114 on the 15th, the scheduled move-in volume in Seoul this month is 2,579 households, a 40% increase from last month (1,842 households).

On the other hand, the total volume in the metropolitan area including Seoul is 8,906 households, a 53% decrease compared to last month (18,950 households). This is due to Gyeonggi-do, which has the largest volume, dropping from 15,784 households to 3,246 households, a 79% decrease. Incheon increased by 133% to 3,081 households compared to the previous month. Nationwide apartment move-in volume is 25,036 households, down from 31,713 households last month.

In Seoul, 1,265 households are scheduled to move in at Hillstate e-Pyeonhansesang Munjeong in Munjeong-dong, Songpa-gu. In Gyeonggi-do, 749 households will move into Pangyo Harrington Place in Daejang-dong, Bundang-gu, Seongnam-si, and in Incheon, 1,581 households will move into Hakik SK View in Hakik-dong, Michuhol-gu.

The non-metropolitan area’s move-in volume this month is expected to increase by 430 households to a total of 16,130 households compared to the same period last year (15,700 households). Compared to the previous month (12,763 households), it increased by 4,000 households.

Busan led the increase in volume. Busan is scheduled to have 5,939 households move in this month, the highest monthly volume in over two years since 2022. Jeonbuk will also supply a total of 3,190 households, the highest monthly volume in over five years since 2019. Other regions show little change in volume. There are about four large complexes with around 1,000 households each, including Raemian Forestage (4,043 households) in Oncheon-dong, Dongnae-gu, Busan, and Iksanjeil Punggyeongchae Central Park (1,566 households) in Madong, Iksan-si, Jeonbuk.

Yoon Ji-hae, senior researcher at Real Estate R114, said, "As we fully enter the autumn moving season, sensitivity to rental prices linked to move-in volumes is expected to increase." She added, "Especially in the metropolitan area including Seoul, where jeonse prices have been rising for over a year, the upward trend in rental prices may strengthen further." However, she noted, "The move-in volume during the moving season is expected to gradually increase through October and November, so the issue of reduced housewarming events in the metropolitan area is likely to be short-term."