Apartment assignment prices are rising in Seoul as declining move-in supply and tougher subscription competition push buyers toward newly built complexes, while South Korea’s broader housing pipeline is also tightening. Seoul move-in supply is projected to fall from 37,103 units last year to 25,281 this year, 18,682 in 2027 and 13,683 in 2028. Nationwide apartment move-ins are expected to decline 26.3% to 175,370 units this year from 238,077 a year earlier, with supply outside the capital area falling about 30% to 89,009 units. Hillstate Medialle recorded 70 assignment transactions from June 1 through September 10, and premiums at Seoul complexes reached as much as 978 million won. Regional demand is also recovering selectively, with Forena Hillstate Jinju receiving 3,849 applications for 182 general-sale units. Analysts link the market strength to supply shortages, weaker permits and construction starts, and higher construction costs.