A view of Raemian Trinione, which begins move-ins in August. Seoul Economic Daily DB
More than 14,000 apartment units nationwide will welcome new residents in August. In Seoul, a total of 3,540 units will be occupied, including the 2,000-unit Banpo Raemian Trini One, marking the highest monthly volume this year.
According to Zigbang on the 27th, apartment move-ins scheduled nationwide next month totaled 14,342 units. That is up 3.4% from 13,867 units in the same period last year and similar to the 14,400 units this month.
Move-ins in the greater Seoul area total 8,924 units. By region, Seoul accounts for 3,540 units and Gyeonggi 5,384 units, while Incheon has no complexes beginning move-in in August.
In Seoul, six complexes will begin move-ins. The largest is Banpo Raemian Trini One in Banpo-dong, Seocho-gu, with 2,091 units. It is followed by Magok District Complex 17 in Magok-dong, Gangseo-gu, with 577 units, and Hillstate Mapo The First in Sinsu-dong, Mapo-gu, with 488 units. Elif Mia Station Complexes 1 and 2 in Mia-dong, Gangbuk-gu, with 260 units and Dongjak Boramae Station Precent in Sindaebang-dong, Dongjak-gu, with 124 units are also set for move-in.
Seoul’s monthly move-in volume is the largest so far this year. Banpo Raemian Trini One, which accounts for more than half of the total volume, led the increase in supply.
In Gyeonggi, Pyeongtaek had the most with 2,230 units, followed by Suwon with 2,178 units, Icheon with 558 units, and Paju with 418 units. Total move-in volume is 5,384 units. In Pyeongtaek, the 1,700-unit Brain City Daekwang Rosebiang Moaelga and the 431-unit Pyeongtaek Godeok International New Town Block A48 Yemiji will begin move-ins. In Gwonseon-gu, Suwon, the 2,178-unit Maegyo Station Palucid will welcome new residents. In addition, the 558-unit Icheon Xi The Riche in Icheon and the 418-unit Paju Unjeong New Town Woomi Lynn The Centum in Paju will also begin move-in schedules next month.
In the provinces, 5,418 units will be supplied across five regions. South Chungcheong Province had the most with 2,059 units, followed by Gangwon State with 1,668 units. In South Chungcheong, the 1,626-unit Tangjeong Prugio River Park and the 433-unit Nonsan Prugio The First are scheduled for move-in. In Gangwon, the 874-unit Chuncheon Lake City IPark and the 794-unit Gangneung Ocean City IPark are preparing move-ins. In Jeonnam-Gwangju Integrated Special City, the 695-unit Wepark The Central will be supplied. The 602-unit Harrington Place Technopolis in Cheongju, North Chungcheong, the 320-unit Okdong Kyungnam Honorsville UBC in Ulsan, and the 74-unit Centum El Casa were also included on the move-in list.
A Zigbang official said, “Move-in volume is similar to the previous month, but regional variation is large, so the impact on the market may differ by complex.” The official added, “In particular, Seoul is heavily influenced by move-ins at the large Banpo complex, so it is worth paying attention to changes in regional jeonse and monthly rent markets and available listings.”
The official continued, “In the market, interest continues in the tax reform discussions the government is pursuing, but since specific details have not yet been finalized, a wait-and-see sentiment could continue for the time being.”