40,000 Households for Sale Nationwide in September "Triple Last Year's Number"

More Pre-sale Units in Provinces than Metropolitan Area
Changes in September's Resale Restrictions and First-time Homebuyer Eligibility System

Comparison of Nationwide Apartment Supply Volumes in 2019 and September 2020

[Asia Economy Reporter Onyu Lim] In September, the peak season for housing sales, more than 40,000 households will be offered nationwide. With the delay in the enforcement of strengthened resale restrictions originally scheduled for August, complexes in the metropolitan area and major provincial cities are rushing to launch sales.

According to Zigbang on the 31st, out of a total of 40,523 households across 50 complexes nationwide in September, 33,680 households are planned for general sale. Compared to the same period last year, the total number of households will increase by 27,286 (206% increase), and general sales will increase by 25,731 households (324% increase).

Among the 40,523 households supplied nationwide, 20,050 households are preparing for sale in the metropolitan area. Gyeonggi-do plans the largest supply with 14,161 households. In the provinces, 20,473 households are scheduled for sale, with Daegu City expected to have the largest supply at 5,747 households.

In September, the revised enforcement of strengthened resale restrictions in the metropolitan area’s overconcentration control zones, growth management areas, and urban areas of major provincial cities will take effect. Currently, houses supplied in private land in non-regulated areas of the metropolitan area and major provincial cities are subject to a six-month resale restriction period. However, upon enforcement of the strengthened resale restriction amendment, resale of pre-sale rights will be prohibited until ownership transfer registration in the metropolitan area’s overconcentration control zones, growth management areas, and urban areas of major provincial cities.

Ham Young-jin, head of Zigbang Big Data Lab, said, "Complexes preparing new sales in areas subject to strengthened resale restrictions such as Daegu and Daejeon are planning to rush sales before the enforcement," and predicted, "Sales volume in urban areas of major provincial cities will be concentrated in early September." However, there is a high possibility of changes in the sales schedule due to the resurgence of COVID-19.

Meanwhile, the complexes scheduled for sale in August, surveyed on July 30, were 43 complexes with a total of 33,273 households, including 24,480 for general sale. Upon re-survey, the actual sales were 29 complexes with a total of 21,374 households, including 15,511 for general sale. The total number of households actually sold was more than 64% of the planned volume.

In Seoul, two complexes with 699 households are preparing for sale.

◆ Raemian One Pentas in Banpo-dong, Seocho-gu, Seoul = This complex is a reconstruction of Sinbanpo 15th and is constructed by Samsung C&T. It is located in Banpo-dong 12 area, Seocho-gu, Seoul, with a total of 641 households, of which 267 are for general sale. It is a complex that completed the application for the resident recruitment announcement before the application of the price ceiling system, so the price ceiling system does not apply.

In Gyeonggi-do, 23 complexes with 14,161 households are preparing for sale. Among them, three complexes are planned to be sold as Newlywed Hope Towns. If the 'Housing Supply Rules' are revised in September, income criteria for newlyweds purchasing their first home will be relaxed from 120% of the average monthly urban worker income (130% for dual-income) to 130% (140% for dual-income) for Newlywed Hope Towns priced over 600 million KRW. Newlyweds should carefully check whether they meet the residence and income criteria before applying for subscription.

◆ Pyeongtaek Jije Station Dongmoon Good Morning Hill Mom City Phase 2 in Chilwon-dong, Pyeongtaek-si, Gyeonggi-do = This complex is developed by Woori Asset Trust and constructed by Dongmoon Construction. It is located at 418-6 Chilwon-dong, Pyeongtaek-si, Gyeonggi-do. A total of 1,134 households are for general sale.

◆ Yeongheung Park Prugio Park Bien in Woncheon-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do = Constructed by Daewoo Engineering & Construction, this complex is located at 309 Woncheon-dong, Yeongtong-gu, Suwon-si, Gyeonggi-do. All 1,509 households are for general sale.

◆ Hwaseong Neung-dong Hwaseong Neung-dong B-1 Block Newlywed Hope Town in Hwaseong-si, Gyeonggi-do = Developed by Korea Land & Housing Corporation, this complex is located in B-1 Block, Neung-dong, Hwaseong-si, Gyeonggi-do. Out of 447 households, 298 are for general sale.

In the provinces, relatively many new apartments will be supplied mainly in Daegu City (5,747 households), Gyeongsangbuk-do (3,613 households), and Chungcheongbuk-do (3,380 households).

◆ Suseong The Palace Prugio The Shop in Padong, Suseong-gu, Daegu = This complex is a reconstruction of Padong Gangchon 2 District housing. Daewoo Construction and POSCO Construction are constructing it as a consortium. It is located at 27-17 Padong, Suseong-gu, Daegu City, with a total of 1,299 households, of which 1,055 are for general sale.

This content was produced with the assistance of AI translation services.