The planned supply of private apartment sales from major construction companies next year is expected to be less than 150,000 units. Even when combining the units not included in the statistics due to the final confirmation of sales plans (approximately 11,000 units), it falls short of 160,000 units. This is the lowest since the year 2000 when statistics became available. There are also concerns about a potential supply cliff for apartments.
According to real estate information firm Real Estate R114, the sales volume planned for next year by 25 major construction companies is expected to total 146,130 units (private apartment sales, including rentals) across 158 establishments nationwide. This is 26,000 units less than in 2010, which saw the lowest volume since 2000 with 172,670 units.
However, this statistic does not include some units from GS Engineering and Construction, Lotte Engineering and Construction, and HDC Hyundai Industrial Development with unconfirmed sales plans (approximately 11,000 units). Even if these are added, the total planned sales volume for next year is approximately 157,000 units, the lowest since 2000.
Annual sales volumes have generally recorded more than 200,000 units each year since 2000. However, in 2010 and 2023 (185,913 units), the volume was below 200,000.
Considering that actual sales often decrease compared to planned sales, there is a possibility that next year's actual sales volume from construction companies may be even lower than this survey indicates.
A representative from Real Estate R114 noted that the sales volume from the 25 construction companies surveyed accounts for over 80% of total private apartment sales, stating, 'The sales volume will translate into occupancy levels 2 to 3 years later, and a sharp decline in sales could lead to a shock in the housing supply market.'
Looking at the planned sales by region for next year, 85,840 units (59%) are in the metropolitan area and 60,290 units (41%) are in the provinces. By region, there are ▲50,550 units in Gyeonggi, ▲21,719 units in Seoul, and ▲13,571 units in Incheon.
Additionally, the regions with the highest sales volumes include ▲Busan (18,007 units), ▲Chungnam (13,496 units), and ▲Gyeongnam (6,611 units).
In some areas, such as Gangwon (508 units), Gyeongbuk (999 units), Gwangju (1,294 units), and Jeonnam (1,434 units), the planned supply is less than the size of a single apartment complex in Seoul.