This month, it is expected that over 24,000 apartments will be supplied nationwide in South Korea, differing from the anticipated supply decrease due to the upcoming presidential election next month. Instead, substantial public sale quantities are anticipated, particularly in the Seoul metropolitan area, capturing the interest of prospective buyers.
According to Real Today, a real estate research company, a total of 25 locations with 24,577 units (including rental, excluding officetels) will be welcoming potential buyers this month. Out of these, 15,273 units will be available for general sale. In the metropolitan area, there will be 9,837 units, while the provinces will have 5,436 units available. Gyeonggi-do leads with the highest number of units, offering 8,101 across 9 complexes. Busan has six complexes providing 2,030 units, and Seoul has four complexes with 1,736 units, demonstrating a relatively large volume as well.
In Seoul, notable projects entering the market include ‘Godeok Gangil Daeseong Berl Hill’ (613 units) and ‘The Atheon’ (64 units) in Gangdong-gu, ‘Gocheok Prugio Hillstate’ (576 units) in Guro-gu, and ‘Hillstate Mediale’ (483 units) in Eunpyeong-gu. Given the limited supply in Seoul earlier this year, these projects are expected to draw significant interest from buyers.
The Hillstate Mediale in Eunpyeong-gu is part of a redevelopment project in the Daejo 1 district and consists of 2,451 units spread across 28 buildings, with a maximum height of 25 stories. It is conveniently located near Yeonsinnae Station (served by Seoul Subway Lines 3 and 6 and the GT-X-A), and Bulwang Station on Lines 3 and 6. The Gocheok Prugio Hillstate in the Guro-gu Gocheok 4 district is a redevelopment project with a total of 983 units in 10 buildings, ranging from 3 underground to 25 above-ground floors.
In Gangdong-gu, the Godeok Gangil Daeseong Berl Hill is a private residential complex within a public land development, featuring 613 units over 13 buildings, with a structure ranging from 2 underground to 15 above-ground floors.
In Gyeonggi Province, several affordable public sale apartments are leading the offerings. In Hanam, ‘Gyosan Prugio The First’ (249 units) is inviting residents through general sales. Other projects include ‘E-Pyeonhansesang Daejang Firstium’ (1,099 units) in Bucheon and ‘Dongtan Forest Park Nature & Prugio’ (1,524 units) in Hwaseong. Within private sector developments on public lands, notable entries include ‘Pyeongtaek Goduk A48 Block Kumseong Baekjo Yemiji’ (431 units) in Pyeongtaek and ‘North Suwon Imok District Dietre The Rich II’ (1,744 units) in Suwon.