On the 1st-priority subscription nationwide in June, the competition ratio fell to 5.9 to 1, the lowest in 35 months.
Real House, a sales evaluation company, analyzed data from Subscription Home on the 23rd and said the nationwide 1st-priority average subscription competition ratio in June (12-month moving average) was 5.9 to 1, down 0.4 percentage points from the previous month (6.31 to 1). Compared with the same month last year (11.41 to 1), it was about half. This was the lowest since July 2023 (5.56 to 1), or 35 months.
The nationwide 1st-priority average subscription competition ratio peaked at 14.8 to 1 in May last year and then turned downward. After entering single digits in July last year (9.08 to 1), it stayed in single digits for 12 straight months and fell into the 5 to 1 range in June.
By region, Seoul saw the biggest drop. Seoul's 12-month moving average ratio fell from 153 to 1 in May to 113.14 to 1 in June, down 39.86 percentage points. It was the only one to keep a triple-digit ratio, but the month-over-month decline was the steepest nationwide.
Outside Seoul, ratios also continued to fall. South Gyeongsang fell from 6.67 to 1 to 4.88 to 1, down 1.79 percentage points, and South Chungcheong fell from 3.25 to 1 to 2.95 to 1. Busan and Jeju were tallied at 3.70 to 1 and 0.17 to 1, down 0.14 and 0.10 percentage points, respectively.
Subscription weakness was clear even at individual complexes. Of the 27 complexes that posted recruitment notices in June, 12 failed to fill their 1st-priority quotas. In South Gyeongsang, "Sinmun Daesang Wellraum Rasiel" drew only three applicants for 375 homes, posting 0.01 to 1. "Yangju Hoecheon District Rosebiang Elga" in Gyeonggi (0.02 to 1) and "Ecodelta City Jungheung S-Class Riversity" in Busan (0.08 to 1) also came in below 0.1 to 1.
Large-scale complexes also did not see high ratios. "Buk Osan Xi de Foret" in Gyeonggi drew 219 applicants for 1,401 homes, posting 0.16 to 1. "Gimhae Sinmun Central IPARK" in South Gyeongsang (1,263 homes) and "Penta Hills W Complex 1" in North Gyeongsang (1,498 homes) also stayed at 1.15 to 1 and 2.35 to 1, respectively.
In Seoul, key complexes also stayed around the 10 to 1 level. "Jangwi Prugio Mark One," which accounted for 84.6% of 1st-priority supply in Seoul, posted 10.72 to 1, and "DE'FINE Artia" posted 18.83 to 1. By contrast, the reserved land for "North Seoul Xi Polaris" posted 428.50 to 1, but supply was only six homes.
However, the ratios in Gwangju and Incheon rose from the previous month. Gwangju climbed from 0.18 to 1 to 1.90 to 1, up 1.72 percentage points, and Incheon rose from 4.28 to 1 to 4.59 to 1, up 0.31 percentage points. Gwangju's "Hoban Summit Cheomdan District 3, Block A7" posted 6.25 to 1, and Incheon's "The Sharp Geomdan Lake Park" Blocks AB22 and AB23 posted 7.15 to 1 and 6.91 to 1, respectively.
Existing unsold inventory also remains high. As of the end of May, nationwide unsold dwellings totaled 65,239, marking 30 consecutive months above 60,000. By region, four areas had more than 5,000 unsold units: Gyeonggi 13,042, Busan 8,292, South Chungcheong 8,213, and South Gyeongsang 5,193. In particular, Busan increased by 2,872 from 5,420 a year earlier, and South Chungcheong also rose by 3,489 over the same period, showing a rapid buildup of unsold dwellings in some regions.
Real House sales analysis team leader Kim Seon-a said, "With the recent base rate hike and added uncertainty over future real estate policy changes, the wait-and-see stance among would-be subscribers may persist," and added, "If demand concentrates only on complexes with proven locations and product strength, new offerings with weaker competitiveness could further add to the burden of existing unsold inventory."