June Sees Surge in Housing Supply... Largest Volume This Year

The highest number of housing units supplied in June this year
Major complexes include 'Osan Segyo Athera' and 'Dongnam Haneulchae Edique'
A 62.5% increase in nationwide supply compared to last year

Next week, a total of 1,944 housing units will be supplied nationwide, marking the highest number of units offered in June so far this year.

According to Real Estate R114 on June 7, subscription applications will be accepted for a total of 1,944 units (including 1,223 general sales units) across four complexes nationwide during the second week of June.

Major complexes include 'Osan Segyo Athera,' supplied in Osan, Gyeonggi Province by a consortium of Kumho Construction, Woomee Construction, Shindongah Construction, and Shinheung DNC.

Gangnam and Songpa Districts, Seoul. Photo by Yonhap News

The project will be built at 382 Beoreum-dong, Osan, with six buildings ranging from two basement levels to a maximum of 25 above-ground floors, totaling 433 units. Kumho Construction is the main contractor for the site. Shindongah Construction, which is currently under court receivership, had only invested equity in the project prior to filing for rehabilitation with the court. The site is located near the Gyeongbu Expressway, Pyeongtaek-Paju Expressway, and the Second Capital Region Ring Expressway. The industry has evaluated the pricing as reasonable, with the price set in the low 300 million KRW range due to the government-imposed price cap system.

One model home, 'Dongnam Haneulchae Edique' in Cheongju, North Chungcheong Province, will open to the public.

The total number of units to be supplied nationwide this month is 26,005, the largest volume so far this year. This represents an increase of 53.0% compared to the previous month (17,000 units) and a 62.5% rise compared to the same month last year (16,000 units).

A Real Estate R114 official stated, "As more units are scheduled to be supplied not only in the Seoul metropolitan area but also in regional areas compared to the past, homebuyers will have a wider range of options for purchasing a home."