South Korea apartment move-ins to rise 65% in October

apartment move-ins lease price surge real estate supply Seoul housing market Jeonnam-Gwangju housing

South Korea is set to see a significant increase in apartment move-ins this October, with 16,567 units scheduled, marking a 65% rise from the previous month. This volume is the fourth highest recorded this year. The distribution of new supply is highly concentrated: the Seoul metropolitan area will account for 7,924 units, while provincial regions will see 8,643 units. Notably, the Jeonnam-Gwangju area is expected to handle 66% of the total provincial volume.

Despite the increase in move-ins, the rental market faces ongoing pressure. Seoul's apartment lease prices have surged by 7.79% this year, the highest rate since 2015. This trend is particularly visible in northern Seoul districts like Seongbuk-gu and Nowon-gu, where lease prices for standard-sized apartments (84㎡) are approaching or exceeding 1 billion won.

Experts note that while new move-ins could potentially ease the rental shortage, the impact may be limited due to regional supply imbalances and the fact that not all new units enter the lease market. Furthermore, the national apartment occupancy rate fell to 59.5% in August, with many prospective residents struggling to secure the necessary balance loans to complete their move-ins.

Entities

Gyeonggi Province · Housing Industry Research Institute · Jeonnam-Gwangju · KB Kookmin Bank · Korea Real Estate Board · Oh Se-hoon · Seoul · Zigbang

Claims

What the coverage asserts, and how many sources carry each claim.

[● 5 SOURCES] The Jeonnam-Gwangju area accounts for approximately 66% of the provincial move-in volume with 5,671 units. housing-post.com · www.namdonews.com · www.womennews.co.kr · biz.heraldcorp.com · www.newstomato.com
[● 3 SOURCES] The national apartment occupancy rate fell to 59.5% in August, down 8.6 percentage points from the previous month. housing-post.com · biz.heraldcorp.com · www.newstomato.com
[● 5 SOURCES] The October move-in volume represents a 65% increase compared to the previous month. housing-post.com · www.namdonews.com · www.womennews.co.kr · biz.heraldcorp.com · www.newstomato.com
[● 5 SOURCES] South Korea is expected to have 16,567 new apartment move-ins in October. housing-post.com · www.namdonews.com · www.womennews.co.kr · biz.heraldcorp.com · www.newstomato.com
[DISPUTED] The move-in volume is split into 7,924 units in the Seoul metropolitan area and 8,643 units in provincial regions. housing-post.com · www.namdonews.com · www.womennews.co.kr · biz.heraldcorp.com · www.newstomato.com
[● 3 SOURCES] Seongbuk-gu recorded the highest lease price increase in Seoul at 12.84%. www.sisajournal.com · www.hani.co.kr · www.seoul.co.kr
[DISPUTED] Seoul will see 3,302 new apartment move-ins in October. housing-post.com · www.namdonews.com · www.womennews.co.kr · biz.heraldcorp.com · www.newstomato.com
[● 3 SOURCES] Seoul apartment lease prices have seen a cumulative increase of 7.79% this year. www.sisajournal.com · www.hani.co.kr · www.seoul.co.kr