South Korea's autumn presale market opens in earnest after the Chuseok holiday, with more than 38,000 apartment units scheduled for presale in October — a gain of more than 60% from the same month a year earlier. About two-thirds of the total is concentrated in the Seoul metropolitan area.
A total of 38,032 units across 50 complexes are slated for presale nationwide in October, according to real estate platform Zigbang on the 28th. That is 14,365 units, or 61%, more than the 23,667 units across 26 complexes in October last year. Of the total, 32,133 units will go to general subscription, up 13,731 units or 75% from 18,402 units a year earlier.
In September, 20,062 of the 22,704 units originally planned for presale were actually supplied, for a completion rate of about 88%. That was 20 percentage points higher than August's 68%. For general subscription, 16,883 of the 18,643 planned units reached the market, a rate of about 91%.
By region, Gyeonggi Province has the largest volume scheduled, with 16,043 units across 23 complexes, including 14,496 units for general subscription. Incheon follows with 6,921 units across seven complexes (5,504 for general subscription), then Seoul with 1,654 units across five complexes (1,366). Outside the capital region, 15 complexes totaling 13,414 units are preparing for presale.
In Seoul, 500 units at Godeok Gangil Complex 3 Land Lease Housing and 590 units at Godeok Gangil Complex 3 Phase 2 Land Lease Housing are set for supply in Gangil-dong, Gangdong-gu. Also on the schedule are 228 units at Gyeonghuigung Epit in Gyonam-dong, Jongno-gu, and 176 units at Junghwa Station Raon Private Centro in Junghwa-dong, Jungnang-gu.
In Gyeonggi Province, planned projects include 1,542 units at Hwaseong Hyangnam Lotte Castle Signature in Hyangnam-eup, Hwaseong; 1,249 units at Gyeonggi Gwangju Station Lotte Castle Signature Complex 2 in Ssangnyeong-dong, Gwangju; and 1,098 units at Hanwha Forena Jije Station in Segyo-dong, Pyeongtaek. Others coming to market include 996 units at Elif Godeok Central High in Godeok-dong, Pyeongtaek; 996 units at Acmer Dongtan (Block M1-2-2) in Bansong-dong, Dongtan-gu, Hwaseong; and 984 units at Armusee Xi in Seongpo-dong, Sangnok-gu, Ansan.
In Incheon, the largest project is 2,706 units at Sangok Station Xi Hillstate & Haneulchae in Sangok-dong, Bupyeong-gu. Also in preparation are 868 units at Cheongna Ark One Prugio in Cheongna-dong, Seohae-gu; 843 units at Geomdan Centreville Grand Foret in Oryu-dong, Geomdan-gu; and 802 units at Incheon Yeongjong A62 in Unnam-dong, Yeongjong-gu.
Outside the capital region, a total of 13,414 units are scheduled for supply. By region, the breakdown is 4,291 units in South Chungcheong Province, 3,224 in Busan, 2,663 in North Chungcheong Province, 2,299 in Gwangju, 673 in Daejeon and 264 in Gangwon State.
In South Chungcheong Province, upcoming presales include 1,534 units at Cheonan Asan Station Grand City Feel House 1BL in Baebang-eup, Asan, and 1,290 units at The Sharp Cheonan La Que One in Budae-dong, Seobuk-gu, Cheonan. In North Chungcheong Province, 1,128 units at Cheongju Gagyeong I-Park Complex 8 in Gagyeong-dong, Heungdeok-gu, Cheongju, and 992 units at Cheongju Sinbunpyeong Epit The Way City in Jangseong-dong, Seowon-gu are planned. In Gwangju, 2,299 units at I-Park Mudeungsan Sky Forest in Hak-dong, Dong-gu are set for supply.
"With funding burdens continuing due to interest rates and lending conditions, subscription results are likely to vary by complex depending on location, presale prices and surrounding market prices," an official at Zigbang said. "How subscription demand responds to the expanded range of options in October, when presale volume rises in earnest, is expected to determine the direction of the autumn presale market."
