Next month, the number of apartment units available for occupancy nationwide is expected to decrease by 37% compared to the previous month.
According to a survey by Zigbang on 23rd, the total number of apartment units available for occupancy nationwide in February 2025 will be 21,404, which is a 37% decrease from the previous month (33,723 units).
In the metropolitan area, the number of available units will reach 7,250, which is about half of the previous month (13,980 units). The amount is the lowest since July last year (2,318 units). While in the previous month, large-scale complexes were completed in Seoul and Gyeonggi, and five complexes in the Incheon area, the occupancy in February will focus on mid-sized and small complexes, which has been analyzed to have contributed to the decrease in the number of units available in the metropolitan area, according to Zigbang.
The provinces will see 14,154 units available for occupancy, accounting for 66% of the total amount for February. Large complexes will be available in cities like Gimhae and Daejeon. A total of 5,422 units will be supplied in Gyeongsangnam-do, 2,763 units in Daejeon, 1,431 units in Jeollabuk-do, and 1,107 units in Chungcheongnam-do, among others.
Looking at the key complexes planned for occupancy, in Seoul, 585 units will be available, including 419 units from the Acro Samsung (Gangnam-gu), which was rebuilt from Hongsil Apartments, along with two other complexes. In Gyeonggi Province, 5,908 units are set for occupancy, with new apartments available in Yongin, Anyang, Osan, and Ansan. The Yongin Gyeongnam Honoris Ville D-Cent 1, 2, and 3 complexes located in Yangji-myeon, Cheoin-gu, and the Acro Best New complex with 1,011 units located in Hoegye-dong, Dongan-gu, Anyang are scheduled for occupancy. In Osan, 380 units of the Osan SK VIEW 2nd complex in the Segyo district and 414 units of Osan Segyo 2nd district Moa Mirado are set to start occupancy.
In Incheon, a total of 757 units will be available, including 514 units from the Youngjong Seohee Star Hills in Jung-gu and 243 units from the Wangil Station Kumho Edu Green in Seo-gu.
The largest complex in Gyeongnam, the Gimhae Yulha The Sky City Zenis & Frau (3,764 units) is scheduled to open by the end of February. In Daejeon, the Dunsan The Sharp Elif complex, reconstructed from the Yongsan 1, 2, and 3 districts in Seo-gu, will have 2,763 units available. In Jeollabuk-do, the Iksan Jaeei Grand Park complex in Iksan will have 1,431 units ready, and in Chungcheongnam-do, the Nonsan I-Park with 453 units in Daegyo-dong, Nonsan will begin occupancy.
In March, the number of apartment units available for occupancy in the metropolitan area (12,684 units) is expected to increase by 75% compared to February, suggesting the impact of the decrease in units available in February will be minimal.
Amid concerns over economic recession and the effects of the impeachment politics, the market atmosphere remains quiet, and the occupancy outlook is not optimistic. According to the Korea Housing Industry Research Institute, the national apartment occupancy outlook index (68.4p) in January reached its lowest level in two years. Ongoing loan regulations and a decline in buying sentiment have increased market uncertainty, which has affected the occupancy market.
A Zigbang official noted, "The occupancy rate in the popular metropolitan area slightly declined compared to the previous month. The continuous loan regulations and sluggish transactions of existing apartments have caused delays in occupancy, leading to a drop in the occupancy rate. Moreover, with recent concerns over the financial instability of construction companies, market anxiety is further heightened, which is expected to dampen the atmosphere in the new apartment transaction market for the time being."