January Nationwide Unsold Apartments Decrease for 7 Consecutive Months

[Asia Economy Reporter Yoo In-ho] Last month, unsold apartments nationwide continued to decline for the seventh consecutive month.

The Ministry of Land, Infrastructure and Transport announced on the 27th that as of January this year, the total number of unsold houses nationwide was 43,268 units, down 9.5% from 47,797 units in the previous month.

Compared to the same month last year (59,162 units), it decreased by 26.9%. Accordingly, unsold houses nationwide have decreased for seven consecutive months since June last year.

As of the end of January, post-completion unsold houses were recorded at a total of 17,500 units, down 3.1% from 18,065 units in the previous month. Post-completion unsold houses remain vacant even after construction and are called "malignant unsold." Post-completion unsold houses showed an increasing trend with 19,439 units in October 2019 and 19,587 units in November, but turned to a decreasing trend in December (18,065 units).

By region, unsold houses in the Seoul metropolitan area were 4,901 units, down 21.0% from 6,202 units in the previous month. In the provinces, there were 38,367 units, down 7.8% from 41,595 units in the previous month. Provincial unsold houses have decreased for five consecutive months since August last year (52,054 units).

By size, unsold medium to large houses over 85㎡ were recorded at 3,565 units, down 7.0% from 3,833 units in the previous month. Houses 85㎡ or smaller decreased by 9.7% from 43,964 units in the previous month to 39,703 units.

This content was produced with the assistance of AI translation services.