Next month, the number of apartments set to open in Seoul is expected to reach over 5,700 units, marking the highest monthly total for this year. Nationwide, approximately 19,000 units are scheduled to be completed, with the supply in the Greater Seoul area more than tripling compared to the same period last year.
According to Real Estate 114, a total of 41 apartment complexes, comprising 19,178 units, are slated for completion across the country in October 2026. This figure includes rental units.
In September, the nationwide completion figure was 13,698 units, the lowest monthly total this year, but October is set to see the highest number of openings.
Regionally, 11,237 units will be completed in the Greater Seoul area, a more than threefold increase from 3,485 units during the same period last year. In contrast, the number of openings in other regions is expected to drop to 7,941 units, nearly half of last year's figures.
In Seoul, 10 complexes with a total of 5,703 units will welcome new residents, the largest monthly figure this year. Notable projects include 2,451 units at 'Hillstate Medialle' in Eunpyeong-gu, 543 units at 'Hillstate Deungchon Station' in Gangseo-gu, and 308 units at 'Raemian Leventus' in Gangnam-gu.
Alongside these developments, over 2,100 public rental apartments, including happy housing and youth safe housing, will also begin occupancy. The increased supply in certain areas of Seoul is expected to provide some relief to the rental market.
However, it is anticipated that the surge in openings across Seoul will have limited impact on stabilizing rental prices and addressing supply-demand imbalances.
In the Gyeonggi region, the number of openings is projected to decrease by 36.7% from 5,851 units last month to 3,700 units in October. This includes small-scale redevelopment projects in areas such as Gokang-dong, Ojeong-dong, and Wonjong-dong in Bucheon.
In Incheon, two complexes, 'Shin Geomdan Central Station Centerville' with 1,224 units and 'Geomdan Lake Park Scenic Chae Urbanity' with 610 units, will contribute to a total of 1,834 units opening.
In the provinces, the total number of openings is 7,941 units. By region, Jeonnam leads with 3,365 units, followed by Gwangju with 1,588 units, Daejeon with 749 units, and Daegu with 729 units.
Key provincial projects include 'Cheomdan Jeil Pungkyung Chae Grand Foret' with 1,845 units and 'Hillstate Cheomdan Central' with 1,520 units in Jangseong-gun, Jeonnam, 'Wipark Ilgok Park' with 1,004 units in Buk-gu, Gwangju, and 'e-Pyeonhansang Seodaejeon Station Centro' with 749 units in Jung-gu, Daejeon.
While the increase in apartment openings in Seoul is temporary, the concentration of major projects in specific areas may lead to varied effects on the rental market's stability across different regions.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.