March Apartment Move-ins Total 9,597 Households...Down 65% From a Year Earlier

5,513 households in the Seoul metropolitan area and 4,084 in non-metropolitan regions
March sees a decline due to adjusted move-in schedules
April move-in volume to expand to 17,666 households

The nationwide number of apartment move-ins scheduled for March this year has been tallied at 9,597 households. This is about a 65% decrease compared with the same month last year (27,251 households), and a 39% decrease from the previous month (15,663 households), marking the lowest monthly move-in volume so far this year.

Yonhap News Agency

According to Zigbang on the 23rd, 5,513 households in the Seoul metropolitan area and 4,084 households in non-metropolitan regions are scheduled to move in next month. In the metropolitan area, the volume decreased by 22% from the previous month (7,024 households) due to a gap in new move-ins in Incheon. In non-metropolitan regions, the number also fell by about 53% compared with the previous month (8,639 households).

In the metropolitan area, move-ins will mainly take place in small to mid-sized complexes in parts of Seoul and Gyeonggi Province. In Seoul, a total of 810 households will move in, centered on complexes where redevelopment projects in the western districts have been completed. Yeongdeungpo Xi Dignity (Yangpyeong-dong 1-ga, Yeongdeungpo-gu), which is the redevelopment of Yangpyeong District 12, will see 707 households move in, and Mokdong Joongang Heights (Sinjeong-dong, Yangcheon-gu), supplied through the Sinjeong 282 Street Housing Maintenance Project, will have 103 households moving in.

In Gyeonggi Province, five complexes with a total of 4,703 households will see move-ins, mainly in outlying areas. By locality, there will be 2,723 households in Pyeongtaek, 992 households in Anseong, and 988 households in Paju.

In Pyeongtaek, Jije Station Semiconductor Valley Poonggyeongchae will have 1,152 households and Hillstate Pyeongtaek Hayang will have 1,571 households moving in, while in Anseong, Harrington Place Jinsa 1 and 2 Block will see 992 households move in. In the Unjeong New Town of Paju, Unjeong Xi Signature, with 988 households, is scheduled to begin move-ins around mid-March.

In non-metropolitan regions, 4,084 households across six complexes will move in. By region, Gangwon will have 1,167 households, South Chungcheong 1,060 households, Daegu 993 households, South Gyeongsang 814 households, and Jeju 50 households, in that order of volume.

In Gangwon Province, Doosan We’ve The Zenith Central Wonju in Wondong, Wonju-si will see 1,167 households move in. Once move-ins are complete, this complex is expected to become the largest complex in Wondong. In Mojong-dong, Asan-si, South Chungcheong Province, Hillstate Mojong Blanc Luce will have 1,060 households moving in, and in Bonri-dong, Dalseo-gu, Daegu, Dalseo Prugio Signature will see 993 households move in. In South Gyeongsang Province, new apartment move-ins will continue in Tongyeong and Yangsan.

Although the March move-in volume is the lowest on a monthly basis this year, it is assessed as a short-term decline caused by schedule adjustments. In April, 17,666 households are scheduled to move in, and the volume is expected to expand again.

A Zigbang official analyzed, "On a quarterly basis, a certain level of supply is being maintained, so the likelihood that a temporary gap in move-ins will have a structural impact on the jeonse rental market or the sales market is limited," adding, "However, perceptions may differ depending on regional disparities in supply, so actual market reactions are likely to be differentiated by area."