The top 10 construction companies in terms of construction capability are planning to reduce their sales next year by nearly 30% compared to this year. In Seoul, the only new development of more than 1,000 units is the Raemian One Perla in the Bangbae-dong area of Seocho District.

On the afternoon of May 20, apartments and residential areas are visible in the city center as viewed from Namsan in Seoul. The proportion of apartments in housing transactions this year has reached an all-time high. In contrast, the proportion of non-apartment transactions, including single-family homes, multi-family homes, and row houses, has recorded an all-time low due to the effects of rental fraud. According to the Korea Real Estate Board's sales transactions by dwelling type, the share of apartments in transactions during the first quarter of this year is 75.8%, which has increased by 1.6 percentage points compared to last year. May 20, 2024/Courtesy of News1.

According to the real estate information company Real Estate R114, the sales plans of the top 10 construction companies for next year are recorded at 107,612 units. This represents 69% of the 155,892 units sold this year.

Looking at the sales plans of the top 10 construction companies, six companies plan to reduce sales compared to this year, which is the largest number. Three companies will maintain their plans, and one company will increase its sales.

Among the apartment sales volume next year, the share of self-developed projects (including contracts) is 53% (77,157 units), while that of maintenance projects (including remodeling) is 47% (68,973 units).

In particular, the volume of sales for maintenance projects such as redevelopment and reconstruction is expected to decrease next year. This is because most of the maintenance project sites are sold out this year.

Accordingly, the only large-scale maintenance project that is expected to sell more than 1,000 units next year in Seoul is the Raemian One Perla (1,097 units) in Bangbae-dong, Seocho District. In Gyeonggi Province, only a few projects are planned, including the Goyang Wondang The Sharp Forena (2,601 units), the Uiwang Gocheonna redevelopment (1,913 units), and the Ddalgiwon 2 district redevelopment (1,096 units).

An official from Real Estate R114 noted, "The apartment sales market in 2025 is expected to hit the lowest volume on record due to complex policy, economic, and structural issues beyond simple economic fluctuations," adding that "the shortage of occupancy volumes indicates that the sales market is at a crossroads of long-term stagnation."