Combining Seoul and Gyeonggi Province, a total of 232,316 housing units are estimated to increase on a net basis across 790 redevelopment projects with confirmed plans (472 in Seoul, 318 in Gyeonggi). This confirms a structure in which, at the overwhelming majority of project sites in both regions, more new units are supplied than the number of demolished units. By project type, the sites with large net increases were mostly large-complex redevelopment and reconstruction zones, where the number of households rose sharply in the process of converting existing low-rise, low-density residential areas into high-density apartment complexes.
According to the "Status of Seoul Redevelopment Projects" data released by the Seoul Metropolitan Government on the 25th, based on figures as of March this year, the total number of units expected to be demolished across 472 redevelopment projects citywide is 358,638, while the number of newly supplied units is 484,790. Among these, 68 sites listed with zero demolished units, such as vacant lots, were excluded from the net-increase comparison. This means the number of units newly built through redevelopment exceeds the number demolished by 126,152, an increase of 35.2% against the number of demolished units.
Among Seoul's redevelopment sites, of the 404 with demolished units, 329 (81.4%) had a supply of units exceeding the number demolished. By district, five districts — Mapo, Jongno, Gwangjin, Dobong, and Geumcheon — recorded a 100% net-increase rate, with new units outnumbering demolished units at all redevelopment sites, while Gangnam (92%), Guro (94%), and Yeongdeungpo (89%) also posted high net-increase rates. Yongsan (50%) and Jung (50%) had the lowest net-increase rates, but the number of homes still increased at half of their sites.
In Gyeonggi Province, based on the "advance information disclosure" statistics as of the second quarter this year, a total of 582 projects were found to be under way, combining redevelopment promotion projects and general redevelopment projects. Excluding 189 sites (37.3%) in early stages, such as designated zones where the construction plan (number of supplied units) has not yet been confirmed, and looking only at the 318 sites with confirmed plans, the number of demolished units was 347,775 and the number of newly supplied units was 453,939. The net increase in units was 106,164, an increase of 30.5% against the number of demolished units. Of the 318 sites, 287 (90.3%) had newly supplied units exceeding the number demolished.
By city, 13 cities — Guri, Gimpo, Yongin, Hwaseong, Pyeongtaek, Siheung, Gunpo, Osan, Icheon, Uiwang, Gwacheon, Dongducheon, and Paju — recorded a 100% net-increase rate, while Anyang (97%), Uijeongbu (96%), Bucheon (95%), and Ansan (92%) also showed high net-increase rates. By contrast, Seongnam recorded 43% (9 of 21 sites), the lowest in Gyeonggi Province, and Hanam stopped at 50%. In Gyeonggi Province, sites without confirmed plans account for 37% of the total, so the overall net-increase scale could grow further as the plans for these sites become concrete.
These figures point in a different direction from remarks made by President Lee Jae-myung at the national public debate on real estate policy held on the 23rd of this month. Speaking on the new housing supply effect of reconstruction and redevelopment, President Lee said at the time, "That, too, does not seem to increase greatly," adding, "because floor space increases." He went on to say, "For redevelopment, it seems usual for the total number of moving-in households to decrease."
