Nationwide apartment move-ins in November to total 11,559 units, down 49% year on year

[The Financial News] Apartment move-ins nationwide are expected to total 11,559 units this November, down 49% from the same period last year. By region, the total is 4,031 units in the capital region and 7,528 in other regions.
According to Zigbang on the 19th, move-in volumes in the capital region will fall by about half from the previous month.
Volumes in Seoul and Incheon, where move-ins to large complexes continued in October, have declined, and no move-ins are scheduled in Incheon for November. Supply is planned for three complexes with 488 units in Seoul and six complexes with 3,543 units in Gyeonggi Province.
In Seoul, the projects are Gaebong Ruburu (295 units) in Gaebong-dong, Guro District; Hongik University Station Central Arte Haemoro (123 units) in Donggyo-dong, Mapo District; and Hanyang LEEPS (70 units) in Sinwol-dong, Yangcheon District. All are complexes of fewer than 300 units supplied through redevelopment projects.
In Gyeonggi Province, the figures include 1,604 units in Pyeongtaek, 1,532 in Icheon City, 348 in Yongin, and 59 in Bucheon.
In other regions, move-ins are expected for 2,430 units in Jeonbuk, 2,153 in Ulsan, 1,067 in Busan, 763 in North Gyeongsang Province, 660 in Daejeon and 228 in Gangwon Province. Jeonbuk and Ulsan together account for 61% of the supply outside the capital region.
Representative complexes scheduled for move-ins in each region include Ulsan Daun 2 District Umi Lynn The Signature (1,430 units) in Beomseo-eup, Ulju County, Ulsan; Seoshin The Sharp Epit (1,914 units) in Seoshin-dong, Wansan District, Jeonju, Jeonbuk; Jungheung S-Class Eco Delta City (1,067 units) in Gangdong-dong, Gangseo District, Busan; and Yeongju Xi Signature (763 units) in Sangmang-dong, Yeongju, North Gyeongsang Province.
A total of 16,211 units are scheduled for move-in nationwide in December, including 8,131 in the capital region and about 600 in Seoul. A total of about 44,300 units are expected to be moved into in the fourth quarter this year. That is 24% more than in the third quarter, but 39% fewer than in the same period last year.
A Zigbang official said, “Move-ins to new apartments provide an opportunity for new jeonse listings to enter the market, so their impact on the jeonse market may vary depending on the volume of move-ins and their regional distribution,” and predicted, “While there are not many new move-ins in Seoul in the capital region, areas such as Ulsan and Jeonbuk, where move-ins to large complexes are concentrated, may see a short-term increase in jeonse listings for newly built apartments, potentially spreading jeonse demand in surrounding areas.”

[email protected] Kwon Jun-ho Reporter