Spring Pre-sale Market Wakes Up for Peak Season... Around 600 Units Nationwide Open for Subscription Next Week

605 Units for General Sale Nationwide
Six Model Homes to Open Next Week
February Pre-sale Volume Expected to Be Carried Over

As the peak spring pre-sale season begins in March, around 600 units are expected to enter the subscription market nationwide next week.

According to Real Estate R114 on the 21st, a total of 2,078 units (605 units for general sale) across 4 complexes nationwide are scheduled to begin pre-sales in the last week of next month.

View of Seoul, including apartment complexes, seen from Namsan in Seoul. Yonhap News Agency

In the Seoul metropolitan area, subscriptions will open for Ssangyong The Platinum Onsu Station in Goean-dong, Bucheon, and The Platinum Central Fore in Samsung-dong, Yangju, Gyeonggi Province, while Geumjeongsan Haneulchae Lumiel in Jangjeon-dong, Geumjeong-gu, Busan, will be offered in the regional market.

Ssangyong The Platinum Onsu Station, a redevelopment of the Goean 3 District, will consist of 6 buildings with 3 basement levels and up to 35 above-ground floors, and will offer 230 units with exclusive areas of 59 and 84 square meters for general sale out of a total of 759 units. The complex is located near Onsu Station on Lines 1 and 7 and boasts excellent access to the greater Seoul area via Gyeongin-ro.

Next week, a total of six model homes are scheduled to open, including Guri Station Hinity River Park in Sutaek-dong, Guri, Gyeonggi Province, and Cheonan I-Park City Complexes 5 and 6 in Seongseong-dong, Cheonan, South Chungcheong Province.

Cheonan I-Park City Complexes 5 and 6, to be supplied in the Seongseong-dong area of Seobuk-gu, Cheonan, will consist of 16 buildings with 2 basement levels and up to 35 above-ground floors, and will offer 1,849 units for general sale out of a total of 1,948 units. The complex is located near Buseong Station on Metropolitan Subway Line 1 and Cheonan Interchange on the Gyeongbu Expressway, and has the advantage of excellent proximity between workplaces and residences, with nearby industrial complexes such as Cheonan General Industrial Complex.

Real Estate R114 commented, "Of the apartments nationwide that were scheduled for pre-sale in February (a total of 18,808 units), the number of units actually released so far remains below the initial plan," adding, "This appears to be due to an increase in complexes that adjusted their supply schedules because of the Lunar New Year holidays."

The company went on to say, "Although new supply is scheduled mainly in Gyeonggi Province and Busan next week, the scale is not large," and predicted, "A significant portion of the supply originally planned for February is likely to be carried over, so supply is expected to increase in March, which is the peak pre-sale season."