In the first quarter of this year, the total number of apartments available for general sale nationwide was 12,358 units, marking the lowest level in 16 years since 2009.
According to Real Estate R114, the number of general sales in the first quarter of this year came to 12,358 units, less than half the amount in the same period last year (35,215 units). This is the lowest figure since 2009 (5,682 units).
In January, 5,947 units were sold, which was less than half of the previous month (12,316 units), and the apartment sales volume fell to 2,371 units in February, again dropping by more than half. Although it slightly increased to 4,040 units in March, this was still the lowest level since February 2023, excluding February.
In the first quarter, the total supply of units in Gyeonggi Province was 1,179 units, barely exceeding 1,000 units. In Seoul, the only sales in the first quarter were the 482 units sold in February. Both Gyeongnam, Jeonnam, and Jeju did not supply a single unit during the same period.
In contrast, South Chungcheong supplied the most, with 3,330 units accounting for about 27% of the nationwide total in the first quarter, followed by North Jeolla with 1,703 units. Only South Chungcheong, North Jeolla, and Gyeonggi provided more than 1,000 units.
One real estate expert noted, "Due to an unprecedented supply drought, the options for the demand group waiting for new apartments have significantly reduced, and interest in new sales complexes has increased accordingly. For this reason, complexes with price competitiveness and locational advantages are likely to achieve good results."