May Pre-Sale Volume Down 7% Year-on-Year
Metropolitan Area Accounts for 68%... Godeok Gangil Daeseong Verhill and More
Pre-Sales Concentrated Before Presidential Election, April Performance Rate at 89%
The nationwide supply of apartment units scheduled for pre-sale next month has been tallied at 17,176 units, a 7% decrease compared to the same period last year. In the Seoul metropolitan area alone, including Daejo District 1 and Gocheok District 4, more than 10,000 units are expected to be released.
According to Zigbang on April 28, a total of 17,176 units (11,065 for general sale) across 22 complexes nationwide are set to be offered next month. Of these, 11,697 units will be supplied in the Seoul metropolitan area, and 5,479 units in non-metropolitan regions.
By region within the metropolitan area, the planned supply is as follows: Gyeonggi Province with 6,603 units, Seoul with 4,333 units, and Incheon with 761 units. In the non-metropolitan regions, the breakdown is: Busan with 1,840 units, North Chungcheong Province with 1,448 units, Gangwon Province with 569 units, Daegu with 540 units, North Gyeongsang Province with 463 units, Gwangju with 320 units, and South Gyeongsang Province with 299 units.
In Seoul, the 'Godeok Gangil Daeseong Verhill' complex in Sangil-dong, Gangdong-gu (613 units) is about to be released. Located within the Godeok Gangil District, this complex is subject to the government’s price ceiling system, which is expected to draw interest from genuine homebuyers.
In Gocheok-dong, Guro-gu, 'Gocheok Prugio Hillstate', a redevelopment project in Gocheok District 4, is scheduled for general pre-sale in May. In Daejo-dong, Eunpyeong-gu, 'Hillstate Mediale', a redevelopment of Daejo District 1 with 2,451 units, is also set for a May launch.
In Dongtan 2 New Town, Hwaseong, Gyeonggi Province, large-scale brand complexes will be supplied as well. 'Dongtan Kkumui Sup Jayeon & Daesang' (1,170 units) and 'Dongtan Fore Park Jayeon & Prugio' (1,524 units) are scheduled for pre-sale in May. In addition, 'Cluster Yongin Gyeongnam Honorsville' in Yangji-myeon, Cheoin-gu, Yongin, will supply 997 units. In Bakdal-dong, Manan-gu, Anyang, 'Hohyeon Central I-Park', a reconstruction of Shinhan Apartment, will offer 134 out of its 507 units for general pre-sale.
In major regional cities, 'Venture Valley Prugio' (540 units) in Sincheon-dong, Dong-gu, Daegu; 'Busan Eco Delta City Block 4 Joongheung S-Class Edu River' (728 units) in Gangdong-dong, Gangseo-gu, Busan; and 'Sinbunpyeong The Way City' (1,448 units) in Jangseong-dong, Seowon-gu, Cheongju, North Chungcheong Province, are among the projects preparing for pre-sale.
Meanwhile, April’s pre-sale performance exceeded expectations. Zigbang had previously estimated the number of units scheduled for pre-sale in April at 23,730, but as of April 24, the actual number of units pre-sold was 21,076, reaching 89% of the initial projection.
This outcome is attributed to many developers choosing not to delay their schedules and proceeding with pre-sales before the presidential election, as the early presidential election schedule gained momentum following the impeachment crisis. This was influenced by the fact that, once the pre-sale preparation process was underway, it became increasingly difficult to postpone further, and by the determination of suppliers to proceed before the major event of the presidential election distracted potential buyers’ attention.
Kim Eunseon, head of the Big Data Lab at Zigbang, stated, "Although the planned pre-sale volume for May has decreased somewhat compared to the same period in previous years, the decline is not significant." She added, "Pre-sale sentiment is also recovering, influenced by the lifting of land transaction permit zones in February, seasonal demand during the spring moving season, and expectations of interest rate cuts."
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