February Nationwide Unsold Apartments Decrease for 8 Consecutive Months

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

The Ministry of Land, Infrastructure and Transport announced on the 30th that as of February this year, the total number of unsold houses nationwide was 39,456 units, down 8.8% from 43,268 units in the previous month.

Compared to the same month last year (59,614 units), it decreased by 33.8%. Accordingly, unsold houses nationwide have been decreasing for eight consecutive months since June last year.

As of the end of February, post-completion unsold houses were recorded at 17,354 units, down 0.8% from 17,500 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 metropolitan area were 4,233 units, down 13.6% from 4,901 units in the previous month. In the provinces, there were 35,223 units, down 8.2% from 38,367 units in the previous month. Provincial unsold houses have decreased for six consecutive months since August last year (52,054 units).

By size, unsold medium-to-large houses over 85㎡ were recorded at 3,119 units, down 12.5% from 3,565 units in the previous month. Houses 85㎡ or smaller decreased by 8.5% from 39,703 units in the previous month to 36,337 units.

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