Korea Housing Association to Supply 110,775 Homes This Year, with Another 15,000 in October

[Financial News] Member companies of the Korea Housing Association supplied 25% more homes in January–September this year than in the same period last year. Supply in March and April roughly doubled year on year, driving the overall increase.
According to the Korea Housing Association on the 15th, its members recorded cumulative supply of 110,775 homes from January to September. That was 22,180 more than the 88,595 recorded in the same period last year.
Monthly supply rose from 7,421 homes in January and 7,853 in February to 13,764 in March and 25,105 in April. Compared with the same months a year earlier, supply increased by 112.1% in March and 90.5% in April.
Supply fell to 7,280 homes in May, then stood at 11,476 in June, 15,971 in July, 10,632 in August and 11,273 in September. Year on year, supply declined by 15.3% in August and 26.2% in September.
Members registered plans to supply a total of 14,379 homes in October. The association expects supply to continue through the end of the year, with 4,840 homes planned for the capital region and 9,539 for areas outside it.
The association said the increase reflected its members’ expansion of project volumes in line with the government’s policy of boosting housing supply. In its “Aug. 13 Real Estate Measures,” announced in August, the government said it would pursue plans including securing public housing sites for at least 160,000 homes, expanding urban supply through redevelopment projects, and shortening the period from announcing candidate sites for public housing districts to breaking ground.
An association official said, “In line with the government’s policy of boosting housing supply, our members are also continuing to increase the volume of homes offered for sale as far as conditions such as permitting and financing allow. The association, too, will continue conveying on-the-ground concerns—including delays in permitting and difficulties securing financing—to the government to help members move their projects forward smoothly.”
The association plans to compile its members’ monthly supply plans and results and publish them on its website each month to support market participants in making policy assessments.
[email protected] Choi Ga-young Reporter