November Move-Ins in Seoul Metropolitan Area 'Halved'... 11,559 Households Nationwide Set to Move In

Nationwide apartment move-ins nearly "halved" year over year
4,031 households in the Seoul metropolitan area and 7,528 in other regions
All 488 Seoul households supplied through redevelopment projects

New apartment move-ins in the Seoul metropolitan area, including Seoul and Incheon, are expected to fall in November to about half the level recorded in the same month last year.

Apartment complex in Songpa-gu, Seoul. Photo by Kang Jinhyeong.

According to Jikbang on October 19, 11,559 households across 21 apartment complexes nationwide are scheduled to move in next month. This is down 30% from the previous month and 49% from the same month last year.

By region, 4,031 households are scheduled to move in across the Seoul metropolitan area and 7,528 in other parts of the country. Compared with the previous month, move-ins will decline by 49% in the Seoul metropolitan area and 13% elsewhere. As move-ins in the metropolitan area fall relatively sharply, other regions will account for 65% of the nationwide total, or about 1.9 times the metropolitan area's figure.

Move-in numbers are declining in Seoul and Incheon following a series of large-complex move-ins in October, and no move-ins are scheduled in Incheon in November. In Seoul, 488 households across three complexes are scheduled to move in: Gaebong Luvre in Gaebong-dong, Guro-gu; Hongik University Station Central Arte Hamoro in Donggyo-dong, Mapo-gu; and Hanyang LEEPS in Sinwol-dong, Yangcheon-gu. All three are complexes of fewer than 300 households supplied through redevelopment projects.

In Gyeonggi Province, 3,543 households across six complexes are scheduled to move in, up 27% from the previous month and accounting for most of the metropolitan area's total. In Pyeongtaek, two complexes in the Hwayang District of Hyeondeok-myeon are scheduled for move-ins: Pyeongtaek Prugio Center Fine and Pyeongtaek Hwayang District Dongmun The East (6-2BL). In Icheon, move-ins are scheduled at Icheon Jungni District Block B3 Kumsung Baekjo YEMIZI in Jungni-dong and Icheon Station Shin An INS Ville Prestige in Jeungil-dong. In Yongin, move-ins are scheduled at Yongin Everland Station Daewon Cantavil in Pogok-eup, Cheoin-gu.

In other parts of the country, move-ins are scheduled for 2,430 households in Jeonbuk, 2,153 in Ulsan, 1,067 in Busan, 763 in Gyeongbuk, 660 in Daejeon, 228 in Gangwon, 182 in Chungnam and 45 in Jeju. Jeonbuk and Ulsan together account for 61% of move-ins outside the Seoul metropolitan area.

Ulsan has the highest monthly total so far this year, with 2,153 households across three complexes scheduled to move in. This represents 48% of the annual total for Ulsan. The complexes are Ulsan Daun 2 District Wo미린 더 시그니처 in Beomseo-eup, Ulju-gun; Ujeong-dong Hanyang LEEPS The Central in Ujeong-dong, Jung-gu; and e-Pyeonhansesang Beonyeong-ro Leaders Forest in Yaeum-dong, Nam-gu.

In Jeonbuk, 2,430 households across two complexes are scheduled to move in, accounting for 40% of the region's annual total. Seosin The Sharp EFIT in Seosin-dong, Wansan-gu, Jeonju, with 1,914 households, is the largest complex scheduled for move-in nationwide in November. Bongdong Hanyang LEEPS Centum Forest in Bongdong-eup, Wanju-gun, is also scheduled for move-in.

In Busan, move-ins are scheduled at Jungheung S-Class Eco Delta City in Gangdong-dong, Gangseo-gu. Other complexes scheduled for move-in include Yeongju Xi Signature in Sangmang-dong, Yeongju, Gyeongbuk; Gwanjeo Prugio Central Park Complexes 1 and 2 in Gwanjeo-dong and Gasuwon-dong, Seo-gu, Daejeon; and Gangneung Xi Rene the Ocean in Songjeong-dong, Gangneung, Gangwon.

A Jikbang representative said, "Recently, the rental market has seen rents rise and available listings remain scarce. Since new apartment move-ins provide an opportunity for new rental listings to enter the market, their impact on the rental market may vary depending on the volume of move-ins and their regional distribution." The representative added, "Although there have not been many new move-ins in Seoul, in areas such as Ulsan and Jeonbuk where large complexes are moving in around the same time, the short-term increase in rental listings in newly built apartments could spread demand for rentals to surrounding areas."

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