Next month, the nationwide supply of apartment move-ins is expected to decrease to half of the previous month’s level.
According to the real estate platform Zigbang on the 26th, the nationwide apartment move-in supply in April will be 13,814 units, which is 48% less than the previous month (26,337 units).
As the move-in supply decreases nationwide, a significant drop is expected particularly in the move-in supply for the capital area. Next month, the move-in supply for the capital area will be 4,067 units, down 72% from the previous month (14,590 units).
By region, 407 units from one complex will be available in Seoul, while two complexes in Gyeonggi will provide 1,157 units. This is the smallest move-in supply since March 2017 (1,346 units) for the Gyeonggi region. In Incheon, a total of 2,143 units from three complexes in Geomdan and Bupyeong will become available.
In the provinces, 9,747 units will be available, a 17% decrease compared to the previous month (11,747 units). Many of the 18 complexes scheduled for move-ins are small, with less than 1,000 units.
By region, supply will focus on major cities, with 2,392 units in Gwangju, 1,740 units in Daejeon, 1,651 units in Busan, and 1,570 units in Gyeongnam.
Meanwhile, the total move-in supply for the first quarter was recorded at 79,782 units. An estimated 50,000 units are expected to move in during each of the remaining second to fourth quarters. Zigbang noted that while the supply is less than in the previous year, the decrease is primarily in areas outside the capital and in provincial metropolitan cities, suggesting that short-term market shocks may not be significant. However, it analyzed that in the medium to long term, the overall reduction in supply could highlight the scarcity of new dwellings, potentially leading to housing price increases and instability in the rental market.