Next year, the nationwide supply of apartments scheduled for occupancy is expected to decrease by more than 100,000 units compared to the supply this year.
According to Real Estate R114 on the 20th, the total number of apartments scheduled for occupancy nationwide in 2025 is expected to be 263,330 units, a decrease of 107,728 units compared to 364,058 units in 2024. This is a 28% decrease compared to the previous year and is the lowest figure in 11 years since 2014 (274,943 units).
In particular, Real Estate R114 explained that about 46,000 units are expected to decrease in Gyeonggi Province, which is responsible for a significant portion of the supply in the metropolitan area, meaning that even if the supply in Seoul increases somewhat, it will not affect the overall downward trend. It has been confirmed that the supply is decreasing from the first half to the second half of the year, which is expected to affect rental price fluctuations during the fall moving season.
While the average monthly supply for 2025 is confirmed to be around 22,000 units, the overall supply decreases from January to March to September and October. Looking at the figures, the average monthly occupancy during the first half of the year is expected to be around 26,000 units, but in the second half, it is expected to be around 18,000 units, falling below the annual average monthly supply overall by the end of the year.
Real Estate R114 noted, "Since the supply for September and October, which corresponds to the fall moving season, is expected to be the lowest of the year, price volatility for rental agreements is likely to increase around that time." It added, "However, the supply in the metropolitan area is expected to increase again in November and December, which may somewhat ease concerns about monthly rent fluctuations."
Since there is a decrease of 107,728 units nationwide compared to the previous year, it is shown that supply is decreasing in 14 out of 17 cities and provinces. Among these, the areas with a significant relative decrease compared to the previous year include ▲ Gyeonggi 46,536 units (116,941 units → 70,405 units) ▲ Daegu 12,916 units (24,300 units → 11,384 units) ▲ North Gyeongsang 10,845 units (23,322 units → 12,477 units) ▲ South Chungcheong 8,898 units (22,818 units → 13,920 units) ▲ Incheon 7,102 units (29,740 units → 22,638 units).
While the supply of apartments is increasing in Seoul, Ulsan, Jeju, and others among the 17 cities and provinces, the impact is not significant. In Seoul, the supply is expected to increase by 4,462 units in 2025 compared to 2024 (27,877 units → 32,339 units, excluding unspecified monthly complexes). However, with a decrease of 46,000 units in Gyeonggi Province, the increased effect in Seoul is diminished. In addition, the supply in Ulsan is expected to increase by 911 units, and in Jeju by 511 units compared to 2024, but these figures are too small to have a significant impact.