In November, over 56,000 apartment units are set to be offered nationwide. This marks an approximately 90% increase in supply compared to the same period last year, with more than half concentrated in the capital region. Major complexes are being launched, particularly in the Gangnam area of Seoul and public housing districts in the capital region, drawing attention to the subscription market.
According to data compiled by Real Estate R114 on October 28, a total of 56,533 apartment units are expected to be available for sale in November. This represents an 89.1% increase (26,638 units) from November of last year, which had 29,895 units. Compared to the previous month, October, which had 16,396 units, this is a staggering 244.8% increase (40,137 units).
Regionally, 32,017 units are expected to be supplied in the capital region, accounting for 56.6% of the total planned supply and reflecting a 37.7% increase from the same period last year (23,251 units).
In the capital region, Gyeonggi Province will see the highest supply, with 20,278 units planned, making up 35.9% of the national total and a 7.1% increase from November of last year. Seoul and Incheon are expected to supply 7,240 units and 4,499 units, respectively, with year-on-year increases of 146.2% in Seoul and 226.5% in Incheon.
Supply in provincial areas has also surged significantly. A total of 24,516 units are expected to be offered in November, a 269.0% increase from the same period last year (6,644 units). Gyeongbuk leads the provinces with 5,723 units, followed by Sejong (3,547 units), Daejeon (3,404 units), Gwangju (3,330 units), Busan (2,615 units), and Chungnam (2,034 units).
In the capital region, sales are centered around public housing districts and major redevelopment projects.
In Siheung, Gyeonggi Province, Kyeryong Construction will offer 'Elif Siheung The Prime' in the public housing district B-5 block. The complex will consist of four buildings, rising from two basement levels to a maximum of 25 stories, with a total of 338 units, of which 304 will be available for general sale.
In Uijeongbu, Gyeonggi Province, 'Uijeongbu Station Pellis Tower Yangwoo Naean-ae' is set to be launched. This development will feature 1,252 apartments and 48 officetels, along with commercial and community facilities, spanning from six basement levels to a maximum of 49 stories.
In Incheon’s Geomdan District, Dongbu Construction will introduce 'Geomdan Centerville Grand Foret,' the first private park special project in Geomdan, comprising 843 units with sizes of 59, 74, and 84 square meters.
In Seoul, redevelopment projects in the Gangnam area are preparing for sales. 'The DH Banpo 124,' a redevelopment of Banpo Jugong 1 Complex in Seocho District, will consist of 5,007 units, with 1,832 units available for general sale, ranging from 59 to 130 square meters.
In Jongno District, HL D&I Hanla will offer 'Kyunghee Palace Epitt,' which will consist of 228 units, with 135 units available for general sale in sizes of 39, 59, and 84 square meters. HL D&I Hanla plans to rebrand its residential line from 'Hanla Vivardi' to 'Epitt' in 2024. In Yeongdeungpo District, 'Harrington Place Munrae' will offer 218 units, all with a size of 84 square meters.
In the former Sangbong Terminal site in Jungnang District, POSCO E&C will supply 308 officetel units for 'The Shop First World Seoul,' creating a large residential complex alongside 999 existing apartments.
Provincial areas will also see significant launches. In Sejong City, 'Sejong Smart City El Sujain' will offer 2,191 units, all available for general sale, with sizes of 84 square meters.
In Busan’s Yeonje District, 'Yeonsan Station Sujain Centrio' is set to launch through the Sambo Apartment redevelopment project, with 335 units, of which 139 will be available for general sale in sizes of 59, 74, and 84 square meters. In Ulsan’s Ulju County, 'Hillstate Ulsan Station Riverfore' will supply 436 apartments.
An industry insider noted, "As November approaches, construction companies are set to release key complexes that have been delayed, invigorating the nationwide sales market. However, due to ongoing loan regulations and rising prices, demand is likely to concentrate on projects subject to price caps or those with access to essential urban infrastructure, leading to selective subscription patterns."
* This article has been translated by AI.
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