- Small Apartments Become Mainstream Amid Rising Two-Person Households... Demand Expected to Grow Further
- "Changwon Megacity Xi & Weave" Strengthens Small Unit Offerings... Abundant Benefits Including Interest-Free Interim Payments
Recently, small apartments have become extremely popular in the housing market. This surge in demand is largely due to changes in social structure, such as the rapid increase in two-person households, including the so-called "DINKs" (dual income, no kids) families.
According to the report "Changes in the Characteristics of Childless Couples Over the Past 10 Years" published last year by the Korea Labor Institute, as of 2022, dual-income childless couples accounted for 36.3% of all couples, a 1.73-fold increase compared to 21.0% in 2013. This means that more than one out of every three young dual-income couples are DINKs.
As a result, the number of two-person households is also showing a clear upward trend. According to resident registration population statistics from the Ministry of the Interior and Safety, as of December last year, there were 6,005,284 two-person households nationwide, surpassing 6 million for the first time since statistics began. The number of two-person households, which stood at 5,129,120 in 2019, has steadily increased to 5.4 million in 2020, 5.61 million in 2021, 5.74 million in 2022, and 5.86 million in 2023. As of April this year, the figure reached 6,052,856 households.
This shift in population structure is also affecting the housing market. According to data from Real Estate R114, small apartments are enjoying high popularity in the subscription market as well. Looking at the nationwide subscription competition rate by housing size over the past 10 years from 2015 to 2024, small apartments with an exclusive area of 60 square meters or less had lower competition rates than medium-sized (60-85 square meters) or large-sized (over 85 square meters) apartments until 2021, but this trend reversed starting in 2022.
In 2022, small apartments recorded an average subscription competition rate of 7.18 to 1, surpassing medium-sized apartments (6.68 to 1) for the first time. In 2023, the gap widened further, with small apartments reaching 12.88 to 1 compared to 9.02 to 1 for medium-sized units. In 2024, the competition rate for small apartments soared to 29.83 to 1, more than twice that of medium-sized apartments (10.51 to 1).
The number of small apartment sales transactions is also steadily increasing. In 2022, the nationwide transaction volume for small apartments was 129,046 units. This rose to 154,205 units in 2023 and 176,502 units in 2024, showing a clear upward trend each year.
Against this backdrop, the Doosan Construction consortium is currently selling "Changwon Megacity Xi & Weave" through the Daeya District redevelopment project in Yeoja-dong, Jinhae-gu, Changwon Special City, Gyeongsangnam-do. The complex consists of 17 buildings ranging from four basement levels to 37 above-ground floors, totaling 2,638 units. Of these, 2,041 units with exclusive areas of 54 to 102 square meters are available for general sale.
The complex will feature amenities such as a fitness center, indoor golf range (including screen golf), GX room, sauna, small library, study room, kids club, and moms' station. There will also be specialized programs for residents. Kyobo Bookstore's book curation service will be applied as well.
The breakfast service is also noteworthy. Residents will be able to conveniently have breakfast in the community space within the complex during busy mornings, which is expected to enhance their satisfaction with daily life. In addition, through an educational partnership with Jongno M School, benefits such as tuition discounts, subject lectures, career counseling, and nationwide academic assessments will be provided to residents' children.
Additional benefits, such as full interest-free loans on 60% of the interim payment and a fixed first contract payment of 10 million won, are offered to distinguish the complex from others. This allows prospective homeowners to purchase a home without a heavy initial financial burden until move-in, which is scheduled for December 2028. The model house is located in Jungang-dong, Seongsan-gu, Changwon Special City, Gyeongsangnam-do.
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