In June, the nationwide supply of new housing units is expected to reach 40,000, the highest volume this year. Construction companies, which had postponed their sales schedules ahead of the local elections, are now ramping up supply in both the metropolitan and regional areas.
According to Real Estate 114, the total number of planned housing units for June, including rentals, is estimated at 39,202. This marks an increase of more than six times compared to the same period last year. It is also the largest figure when compared to the monthly supply from January to May and the planned supply for the second half of the year (July to December).
Notably, this figure represents a more than 5.7-fold increase from the low of 6,862 units recorded in February. Throughout April and May, the supply remained stable at around 25,000 to 26,000 units.
Industry experts attribute the surge in supply to construction companies resuming their sales schedules after the elections.
In the metropolitan area, the planned supply is 22,059 units, a 48% increase from the previous month’s 14,912 units. Compared to the same period last year, which saw only 5,375 units, this represents more than a fourfold increase.
Regionally, Gyeonggi Province leads with 12,752 units, followed by Incheon with 5,563 units and Seoul with 3,744 units. Unlike the usual trend of concentrated supply in Gyeonggi, this month also sees significant offerings in Incheon and Seoul.
Key developments include the 'The Sharp Geomdan Lake Park' in Incheon with 2,857 units, 'Sankok Station Xi Hills State & Hanulchae' in Bupyeong, Incheon with 2,706 units, 'Jangwi Prugio Mark One' in Seongbuk, Seoul with 1,931 units, 'Buk Osan Xi De Foret' in Osan, Gyeonggi with 1,517 units, 'Goyang Changneung S2' in Goyang, Gyeonggi with 1,057 units, 'Pyeongtaek Goduk P3' in Pyeongtaek with 973 units, and 'Summit Clavion' in Yeongdeungpo, Seoul with 812 units.
The increase in supply in regional areas is even more pronounced. This month, the planned supply in regions outside the capital is 17,143 units, more than 13 times the 1,300 units recorded during the same period last year. Compared to last month’s 10,150 units, this is a 69% increase.
Regionally, Gyeongnam has the highest supply with 5,433 units, followed by Busan with 2,207 units, Gyeongbuk with 1,712 units, and Chungnam with 1,622 units. This surge is attributed to the backlog of supply that was postponed ahead of the nationwide local elections.
Notable projects include 'Gimhae Sinmun Central I-Park' in Gimhae, Gyeongnam with 1,379 units, 'Centreville Asterium Geoje' in Geoje, Gyeongnam with 1,307 units, 'Penta Hills W1 Complex' in Gyeongsan, Gyeongbuk, 'Baeksok Signature Xi Blocks 1 & 2' in Cheonan, Chungnam with 1,174 units, 'e-Pyeonhansesang Yongdu Honorium' in Jung-gu, Daejeon with 794 units, 'e-Pyeonhansesang Centum River Luce' in Haeundae, Busan with 536 units, and 'Eco Delta City Jungheung S-Class Riverside' in Gangseo, Busan with 501 units.
As the housing market continues to heat up, the expansion of supply is expected to broaden options for buyers. In Seoul, the average subscription competition rate from January to May approached 100 to 1, indicating sustained high demand.
Real Estate 114 anticipates that the upcoming supply of competitive developments in the metropolitan area, five major cities, and other regional hubs will provide a diverse range of choices for prospective buyers.
* This article has been translated by AI.
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