Fall apartment presales get into full swing after Chuseok; 38,032 apartments to be offered nationwide in October

[Financial News] The nationwide apartment presale market is entering its fall peak season after the Chuseok holiday. With the number of apartments scheduled for sale in October up more than 60% from the same month a year earlier, about two-thirds of the total supply is concentrated in the Seoul metropolitan area. Attention is focused on whether presale demand will gather around major complexes in the region.
On the 28th, real estate platform Zigbang reported that 50 apartment complexes, totaling 38,032 units, are scheduled for sale nationwide in October. This is 14,365 more units, or 61%, than in the same month last year. The number of units offered for general sale is also expected to rise 75% to 32,133, up from 18,402 a year earlier, an increase of 13,731 units.
The units scheduled for sale in October are concentrated in the Seoul metropolitan area. Of the 38,032 units nationwide, approximately 65%, or 24,618 units, will be supplied in the region.
By region, Gyeonggi Province recorded the largest supply, with 23 complexes totaling 16,043 units, including 14,496 units for general sale. It was followed by Incheon Metropolitan City, with seven complexes and 6,921 units, including 5,504 for general sale, and Seoul, with five complexes and 1,654 units, including 1,366 for general sale.
In Seoul, Godeok Gangil 3 Complex Land-Leasehold Housing, with 500 units, and Godeok Gangil 3 Complex Phase 2 Land-Leasehold Housing, with 590 units, are scheduled for sale in Gangil-dong, Gangdong-gu. Other projects include Gyeonghuigung E-Pit, with 228 units, in Gyonam-dong, Jongno-gu, and Junghwa Station Raon Private Centro, with 176 units, in Junghwa-dong, Jungnang-gu.
In Gyeonggi Province, projects scheduled for sale include Hwaseong Hyangnam Lotte Castle Signature, with 1,542 units, in Hyangnam-eup, Manse-gu, Hwaseong; Gyeonggi Gwangju Station Lotte Castle Signature Phase 2, with 1,249 units, in Ssangnyeong-dong, Gwangju; Hanwha Forena Jije Station, with 1,098 units, in Segyo-dong, Pyeongtaek; ELIF Godeok Central High, with 996 units, in Godeok-dong, Pyeongtaek; Akmer Dongtan, with 996 units, in Bansong-dong, Dongtan-gu, Hwaseong; and Armusei Xi, with 984 units, in Seongpo-dong, Sangnok-gu, Ansan.
In Incheon Metropolitan City, projects slated for supply include Sangok Station Xi Hillstate & Haneulchae, with 2,706 units, in Sangok-dong, Bupyeong-gu; Cheongna Arc One Prugio, with 868 units, in Cheongna-dong, Seohae-gu; Geomdan Centerville Grand Foret, with 843 units, in Oryu-dong, Geomdan-gu; and Incheon Yeongjong A62, with 802 units, in Unnam-dong, Yeongjong-gu.
In regions outside the capital area, 15 complexes totaling 13,414 units are scheduled for supply. The figures by region are 4,291 units in South Chungcheong, 3,224 in Busan, 2,663 in North Chungcheong, 2,299 in Jeonnam-Gwangju, 673 in Daejeon and 264 in Gangwon.
As the proportion of scheduled presale units that ultimately reach the market has recently increased, attention is also turning to the actual-to-scheduled presale rate for October.
In September, 20,062 of the 22,704 units originally scheduled for sale were actually offered, meaning approximately 88% of the planned supply reached the market. This was about 20 percentage points higher than the actual-to-scheduled presale rate of 68% in August. For general-sale units, 16,883 of the 18,643 units scheduled were supplied, resulting in an actual-to-scheduled rate of approximately 91%.
The higher September presale rate is seen as a result of complexes that had postponed their schedules due to market conditions and project circumstances coming to market, while housing prices and presale demand continued to rise, particularly in the Seoul metropolitan area. The Housing Industry Research Institute's presale supply outlook index rose to 97.1 in September from 88.1 the previous month.
However, as the number of options increases, the criteria for deciding whether to apply for a new home will become even more important. Housing prices continue to rise, particularly in the Seoul metropolitan area, but the financial burden stemming from interest rates and loan conditions remains significant.
A Zigbang official said, "Homebuyers are expected to consider not only regional market conditions, nearby property prices, presale prices and location, but also their actual ability to secure financing before applying for a new home." The official added, "In October, when fall presale supply gets into full swing, attention will focus on whether many of the scheduled units actually reach the market and how presale demand responds to the expanded range of options."

[email protected] Choi A-young Reporter