South Korea's new-home presale market enters its peak fall season after the Chuseok holiday, with nearly 50,000 units headed for general sale between late September and November. More than 60% of that total is concentrated in October alone, setting up fierce competition among complexes for buyer applications.
A total of 65,598 units will be supplied across 16 cities and provinces nationwide from the 28th of this month through November, according to real estate research firm Real Today on the 23rd. Of those, 48,829 units are for general sale.
By period, general sale volume starts with 3,317 units in late September, followed by 30,066 units in October and 15,446 units in November. That means about 61.6% of the total planned supply falls in October, as developers that timed their schedules to the post-Chuseok fall peak season move to market at once.
In Seoul, 2,398 units are slated for general sale. In the Gangnam area, Banpo The H Class T (working name), a rebuilding of Districts 1, 2 and 4 of the Banpo Jugong No. 1 complex in Seocho District, will offer 1,832 units to general buyers. The rebuilding of Shinbanpo No. 22 in Seocho District will supply another 28 units.
Gyeonggi Province accounts for 17,219 units, or 35.3% of the total, with 13,854 units coming in October alone. Hillstate Godeok Elyst is due in Pyeongtaek, while Acmere Dongtan is planned in Dongtan, Hwaseong. Incheon will see 5,713 units offered for general sale, including large complexes such as the 1,289-unit Sangok Station Xi Hillstate & Hanulchae in Bupyeong District and the 1,110-unit Gyeyang New Town Kaive Ubora in Gyeyang District.
Outside the capital region, South Chungcheong Province has the largest planned general sale volume at 5,113 units, followed by North Chungcheong Province with 3,667, North Gyeongsang Province with 3,617, Daejeon with 3,167, Busan with 1,576, Gwangju with 1,387, Sejong with 1,356 and Daegu with 1,349.
Among the major projects, Hyundai Engineering & Construction plans to unveil Banpo The H Class T (working name) in Banpo-dong, Seocho District, Seoul, in November. Built through the rebuilding of Districts 1, 2 and 4 of the Banpo Jugong No. 1 complex, the project totals 5,002 units, with 1,832 units of 59 to 130 square meters offered for general sale. Gubanpo Station on Subway Line 9 is nearby, and Dongjak Station, a transfer point for Lines 4 and 9, is within walking distance. The reconstruction association will hold a vote at its general meeting on Oct. 9 to decide the final name of the complex.
In Pyeongtaek, Gyeonggi Province, Hyundai Engineering & Construction will supply Hillstate Godeok Elyst in October on blocks A31, A34 and A35 of the Godeok International New Town district. The complex will rise up to 33 stories with 2,122 units in total, all of them general sale units of 58 and 84 square meters. By block, A31 has 690 units, A34 has 679 units and A35 has 753 units. The site is close to Samsung Electronics' Pyeongtaek campus and adjacent to a central commercial district and planned sites for elementary, middle and high schools.
Bando Engineering & Construction will supply Gyeyang New Town Kaive Ubora the same month on blocks AC3 and AC4 of Incheon's Gyeyang New Town. The project comprises 16 buildings ranging from two basement levels to 15 stories above ground, with 1,110 units of 84 to 93 square meters, making it the first privately developed presale complex in Gyeyang New Town. Sites for a kindergarten and elementary and middle schools are planned nearby, and Bakchon Station on Incheon Subway Line 1 is accessible.
HDC Hyundai Development will sell Iapark Mudeungsan Sky Forest in Hak-dong, Dong District, Gwangju, in October. Built through the redevelopment of District 4 of Hak-dong, the complex will comprise 19 buildings ranging from three basement levels to 29 stories above ground, with 2,299 units in total. Excluding units for redevelopment association members and rental units, 1,387 units of 59 to 135 square meters will be offered for general sale. Nam-Gwangju Station on Gwangju Metro Line 1 is within walking distance, and a transfer station on Line 2, scheduled to open in 2027, is also planned.
