The nationwide housing supply in the second half of the year is reported to have decreased by 29% compared to the first half. With the implementation of the July Stress Debt Service Ratio (DSR), home prices in Seoul are rising while the housing supply in the metropolitan area is also declining compared to the first half.
According to a survey by Zigbang on the 23rd, a total of 100,323 households are expected to move in nationwide in the second half of this year. This is 29% less than the first half of the year (140,537 households) and a 39% decrease compared to the same period last year, in the second half of 2024 (163,977 households).
By region, the metropolitan area is expected to see 52,828 households, a 12% decrease compared to the first half. Specifically, 14,043 households in Seoul, 30,379 households in Gyeonggi Province, and 8,406 households in Incheon will be moving in. Gyeonggi Province will see a similar amount of housing supply as the first half, while Seoul and Incheon will experience decreases of 20% and 27%, respectively, compared to the first half.
In the provinces, a total of 47,495 households are expected to move in during the second half, a reduction of about 41% compared to the 80,215 households in the first half. This reflects the decline in housing supply in Daejeon, Gyeongnam, and surrounding areas, where there had been a lot of housing supply for some time.
By month, 16,506 households will enter in July, 15,471 in August, 12,588 in September, and 10,742 in October, with a monthly housing supply of around 10,000 households. After that, 22,872 households will move in November, and 22,144 in December, with more than 20,000 households expected to move in at the end of the year.
By region, in Seoul, housing supply will be provided in the following order: ▲ Dongdaemun District 4,169 households ▲ Songpa District 2,727 households ▲ Seongdong District 1,882 households ▲ Gangnam District 1,584 households ▲ Seocho District 1,097 households ▲ Gangdong District 670 households.
In Dongdaemun District, the redevelopment project I`m Eun I-Park J from the Imun 3 area (4,169 households, excluding 3-2BL) will move in. While new apartments in the Dongdaemun area, such as the Hwiyoung I-Park D-Centia, concentrated on the first half, the flow of demand continues to gradually enter amid the preference for new constructions, making the impact on housing supply limited.
In Songpa District, the Jamsil Raemian I-Park (2,678 households) will begin moving in and is receiving attention as a new large-scale landmark construction alongside the upcoming Jamsil Le'el (scheduled to be sold in June 2025). In addition, high-end new complexes such as Cheongdam Le'el (1,261 households) and Raemian One Pearl (1,097 households) are also scheduled to move in from major areas in Gangnam and Seocho.
In Gyeonggi Province, new apartments will move in at ▲ Pyeongtaek 6,949 households ▲ Gwangmyeong 5,542 households ▲ Hwaseong 3,319 households ▲ Goyang City Ilsandong District 2,090 households ▲ Osan 1,724 households. In Pyeongtaek, seven complexes, including Pyeongtaek Huayang Humanville First City and Godeok International New Town Mirae Dopamilie, are moving in. In Gwangmyeong, Gwangmyeong Jiai The Sharp Forena (3,585 households) and Gwangmyeong Central I-Park (1,957 households) will also be moving in. Both complexes have been completed as part of redevelopment projects.
In Incheon, housing supply will be in the following order: ▲ Seo-gu 2,944 households ▲ Gyeyang-gu 1,683 households ▲ Michuhol-gu 1,321 households ▲ Yeonsu-gu 1,319 households. In addition, 10 complexes are moving in from completed business sites, including Geomdan New Town Geumgang Pentium 3 Central Park (1,049 households) and Cheongna International City I-Park (1,020 households).
In the provinces, the highest housing supply will be in ▲ Daegu 7,467 households ▲ North Chungcheong 7,063 households ▲ South Chungcheong 5,430 households ▲ North Jeolla 4,838 households ▲ North Gyeongsang 4,647 households ▲ Gangwon 4,606 households ▲ South Gyeongsang 4,466 households. In Daegu, 14 complexes will move in, including Duryu Station I-Park (1,300 households) and Sangin Prugio Center Park (990 households). In North Chungcheong, new apartments are moving in from Eumseong, Cheongju, and Jecheon, including Eumseong I-Park Central City (1,505 households) and Eumseong Woomirin Pool House (1,019 households).
A Zigbang representative noted, "Amid continued anxiety about supply shortages, the influx of 'last-minute demand' before the DSR regulation strengthens in July has led to a sharp increase in apartment prices in Seoul, at least in the short term. This decrease in housing supply in the second half may serve as a certain burden for both the rental and sales markets."
He added, "However, by region, the timing of move-ins is spread out, and there will be periods of concentrated supply by month, so adjustments in rental supply and price trends may appear differently by region. Especially by the end of the year, with major complexes anticipated to move in in key areas of the metropolitan area like Dongdaemun and Gwangmyeong, careful observation is needed to see what effects this supply flow might have on market sentiment."