This year, the sales timing for Banpo "Raemian Trinity One" and "Bangbae Forest Jaye"—properties that had gathered interest from subscription waiters—has been postponed to next year. With major area large-scale sales being drastically delayed, it seems that the sales volume in Seoul may drop below 20,000 units. Due to the political uncertainties from the impeachment crisis and early elections, there is a prevailing atmosphere of numerous adjustments in sales schedules by construction companies.
According to Real Estate R114 on the 27th, the total sales volume in Seoul for this year has been totaled at 25,228 units (including youth safety housing). More than half of this, 13,769 units, have yet to have their sales schedules established. Among these, two large-scale complexes that were to be established in the Gangnam area, such as Banpo and Bangbae, are likely to have their sales postponed until next year. As a result, the sales volume for this year is sharply decreasing to around 20,000 units.
Samsung C&T is currently reviewing a plan to postpone the sales timing of "Raemian Trinity One (Banpo District 1, Zone 3)" to next year. Although it was originally planned for within this year, the decision to delay has been made considering various circumstances. However, the company is currently in the process of coordinating with the union on the sales timing and discussing ways to expedite the process as much as possible. This apartment complex consists of a total of 2,091 units across 17 buildings with a maximum height of 35 floors. If the move-in is confirmed for next year, there is a high chance it will switch to a post-sale format.
GS Engineering and Construction has also decided to postpone the sales of Bangbae Forest Jaye (Bangbae District 13) to the second half of next year. It is a large-scale complex with a maximum of 22 floors, 30 buildings, and 2,217 units. GS Engineering and Construction plans to conduct the sales for the Noryangjin District 6 project, which is being jointly constructed with SK Eco Plant, in the second half of this year.
A representative from GS Engineering and Construction noted, "The Bangbae District 13 project has been postponed to the second half of next year, and we expect most complexes planned for this year to be sold in the second half." They added, "The postponement of the sales timing is due to the changes in real estate policies resulting from the early elections and other uncertainties."
The sales timing for "Acro Road Seocho (Seocho Sindae)" supplied by DL E&C has been confirmed for August. This large-scale complex consists of a total of 1,161 units across 16 buildings, with 4 basement floors and a maximum height of 39 floors. However, there is a possibility that the sales timing for "Acro River Sky (Noryangjin District 8)" may be postponed until next year, originally planned for April. This apartment complex also consists of 987 units. DL E&C is expected to conduct sales for this apartment either at the end of this year or next year.
Hyundai E&C plans to proceed with the sales of "Hillstate Medi Alley (Daejo District 1)" in Eunpyeong-gu this May and "Hillstate Iksu Station Central (Sadang District 3)" in August as scheduled. These complexes will have 2,083 units and 927 units (including 801 units allocated for general sale to union members), respectively, and are also large-scale complexes.
LOTTE Construction has also confirmed the sales for "Jamsil L'Eel (Misong Clover Reconstruction)" in Songpa-gu within this year. This apartment features a total of 1,910 units, with exclusive areas ranging from 45 to 145 square meters. Among these, the general sales volume is 241 units.
Ham Young-jin, head of the real estate research lab at Woori Bank, stated, "Due to the impacts of the impeachment crisis and early elections, coordinating sales schedules in the first half of the year is challenging." He also noted, "The influence of the private sales price cap and additional construction cost disputes between contractors have made adjusting sale prices difficult. There are complex reasons for the delays in sales."