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2 clusters · 9 sources · 5 days · First seen · Last updated

South Korea apartment occupancy decline

Overview

South Korea is facing a significant decline in new apartment occupancy and move-ins scheduled for September. Early projections from Zigbang indicated a 30.7% monthly decrease in occupancy volume, with non-metropolitan areas expected to see a 42.4% drop.

Subsequent data from Real Estate 114 suggests the situation may be more severe, forecasting the lowest monthly supply since April 2021. While the Seoul metropolitan area is expected to see a 23% increase compared to the same month last year, it still represents a 24% decrease from August.

Outside the metropolitan area, provincial supply is forecasted to decline by 37% compared to last year due to reduced new apartment supply in major cities such as Busan, Daegu, Daejeon, and Ulsan. Experts have warned that this shortage could lead to increased price volatility and instability in the Jeonse and monthly rental markets.

Entities

South Korea · Real Estate 114 · Zigbang · DH Bangbae

Timeline

  1. 24 days ago

    [BUSINESS] 2 sources
    South Korea apartment move-ins expected to hit 6-year low in September

    South Korea's new apartment move-in volume is expected to hit a 6-year low in September, potentially driving up rental market volatility during the autumn moving season.

  2. 28 days ago

    [BUSINESS] 8 sources
    South Korea apartment occupancy to drop 30% in September

    South Korean apartment occupancy is set to drop 30.7% in September to 10,184 units, with non-metropolitan areas seeing the sharpest declines.

Sources

biz.heraldcorp.com · bjynews.com · cunews.net · dailymagazine.co.kr · datafocus.co.kr · jnilbo.com · kgnews.co.kr · m.sportalkorea.com · seoul.co.kr