Approximately 140-thousand apartments were offered for sale nationwide during the first nine months of the year, with total annual supply projected to fall short of last year's level.

According to data released Sunday by market research firm R114, the supply of private apartments, including rental units, reached 148-thousand-836 units between January and September.

If current trends persist, total apartment supply for 2025 is expected to reach a maximum of 240-thousand units, slightly below last year's figure of 244-thousand.

South Korea's annual apartment supply ranged between 300-thousand and 370-thousand units from 2017 onward, but fell sharply to 207-thousand units in 2023 due to high interest rates and challenges in project financing.

The figure is projected to remain below 250-thousand for the third consecutive year in 2025.

The slowdown is attributed to persistent stagnation in the construction sector and a growing inventory of unsold apartments in regional areas, prompting many developers to suspend or postpone new projects.