South Korea schedules 38,032 apartment presales for October, up 61%

  • South Korea has 38,032 apartment units across 50 complexes scheduled for presale in October, following a late-September pipeline of 3,641 units across eight complexes.
  • October’s planned supply is 61% above last year’s level, with 32,133 units offered through general subscription and Gyeonggi Province leading regional supply at 16,043 units.
  • September delivered 20,062 of 22,704 planned units, while Zigbang said October subscription results will reflect location, presale prices and lending conditions.

South Korea’s apartment presale market is expected to accelerate after the Chuseok holiday, with 38,032 units across 50 complexes scheduled for October, according to real estate platform Zigbang on the 28th. The planned total is 14,365 units, or 61%, above the 23,667 units scheduled across 26 complexes a year earlier, while general subscription will account for 32,133 units, up 75% year on year. About two-thirds of October’s supply is concentrated in the Seoul metropolitan area, led by Gyeonggi Province with 16,043 units, followed by Incheon with 6,921 and Seoul with 1,654. September’s late-month pipeline included 3,641 units across eight complexes, including 1,927 general-sale units, with supply concentrated in Incheon Gyeyang’s third-phase new town, Gwangmyeong and Busan’s Eco Delta City. Zigbang said elevated interest rates and lending burdens mean subscription results will vary by location, presale prices and nearby market prices, and that October demand will help determine the autumn market’s direction.

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