The nationwide competition rate for first-tier apartment subscriptions has fallen for six consecutive months. In contrast, Seoul's rate increased by 3.31 points to 94.58 to 1, highlighting a significant regional disparity.
On October 22, Realhouse, a company specializing in property evaluations, analyzed data from the Korea Real Estate Agency's subscription home. As of September, the nationwide competition rate for first-tier apartment subscriptions was 5.15 to 1, down from 5.34 to 1 the previous month. This figure reflects a moving average based on the last 12 months of subscription performance.
The nationwide rate has been on a downward trend since peaking at 6.99 to 1 in March of this year. After dropping to 9.08 to 1 in July of last year, it has remained in single digits for 15 consecutive months.
Regionally, Busan experienced the largest decline, recording a rate of 0.67 to 1, down 1.35 points from the previous month. This marks the first time since Realhouse began its survey in 2021 that Busan's rate fell below 1 to 1.
In Gyeonggi Province, the rate decreased by 0.25 points to 2.12 to 1, setting a new low for the second consecutive month according to Realhouse's data. Chungcheongnam-do also saw a decline, dropping 0.4 points to 2.53 to 1, the lowest since October 2023.
Ulsan's rate fell from 3.62 to 1 to 2.44 to 1, while Gwangju dropped from 1.8 to 1 to 1.25 to 1. Daejeon's rate decreased from 9.06 to 1 to 8.66 to 1.
Conversely, Seoul's competition rate rose to 94.58 to 1, maintaining a high level amid the nationwide decline.
A representative from Realhouse stated, "As the number of complexes in Seoul where winners can expect significant price gains narrows, the demand for subscriptions is decreasing." They added, "In regions with unsold units, buyers are comparing existing unsold inventory with new offerings, indicating that competitive pricing and location will be crucial for attracting subscribers."
* This article has been translated by AI.
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