Around 24,000 Housing Units to Be Supplied Nationwide in May... Concentration in Seoul Metropolitan Area

15,273 Units for General Sale
9,837 Units to Be Supplied in the Seoul Metropolitan Area

Next month, approximately 24,000 housing units will be offered for sale nationwide. With a large number of public housing units concentrated in the Seoul metropolitan area, the total supply volume is expected to remain at a level similar to last year.

According to RealToday, a real estate research firm, a total of 24,577 units, including rental housing, are scheduled to be supplied nationwide next month. Of these, 15,273 units will be available for general sale. This represents a decrease of about 2,000 units compared to the previous month (17,584 units), but is similar to the same period last year (14,801 units).

View of apartment buildings in downtown Seoul from Inwangsan Mountain, Seoul. Photo by Yonhap News

Of the total general supply, 64.41% (9,837 units) are concentrated in the Seoul metropolitan area. In non-metropolitan regions, 5,436 units (35.59%) will be supplied. By city and province, Gyeonggi Province leads with 8,101 units across nine locations (53%), followed by Busan with 2,030 units at six locations (13.3%), and Seoul with 1,736 units at four locations (11.4%).

Next month will also see the release of public housing units offered at prices lower than the prevailing market rates. These include 'Gyosan Prugio The First' in Hanam, Gyeonggi Province (249 units), 'E-Pyeonhansesang Daejang Firstium' in Bucheon (1,099 units), and 'Dongtan Forepark Jayeon& Prugio' in Hwaseong (1,524 units).

Privately developed projects on public land, such as 'Pyeongtaek Godeok A48 Block Geumseong Baekjo Yemiji' (431 units) and 'Buksuwon Imok District The Atrium II' in Suwon (1,744 units), will also be offered for sale.

Notably, despite a low supply in Seoul so far this year, four new projects are scheduled for sale, drawing attention. These include 'Godeok Gangil Daeseong Verhill' in Gangdong-gu (613 units), 'Gocheok Prugio Hillstate' in Guro-gu (576 units), 'Hillstate Mediale' in Eunpyeong-gu (483 units), and 'The Arteon' in Gangdong-gu (64 units).

A RealToday representative stated, "With the presidential election approaching, overall interest in the housing market is expected to decrease somewhat." However, the representative added, "Interest from genuine homebuyers is likely to continue, depending on the price advantages and location of public housing projects."