March Nationwide Housing Sales 108,677 Units... 5.7% Decrease Compared to Previous Month

[Image source=Yonhap News]

[Asia Economy Reporter Moon Jiwon] Due to the spread of the novel coronavirus infection (COVID-19), the volume of housing sales transactions last month slightly decreased compared to the previous month, but it significantly increased compared to the same month last year.

The Ministry of Land, Infrastructure and Transport announced on the 20th that the total nationwide housing sales transactions last month were recorded at 108,677 cases, a 5.7% decrease compared to 115,264 cases in the previous month.

However, the Ministry explained that compared to 51,357 cases in the same month last year, it increased by 111.6%, and compared to the 5-year average of 82,237 cases, it increased by 32.2%.

The transaction volumes for March were 78,000 cases in 2016, 77,000 cases in 2017, 93,000 cases in 2018, and 51,000 cases last year.

The Ministry stated, "Due to COVID-19, housing sales transactions are expected to decrease in the future," and "It appears that the impact of COVID-19 was partially reflected in the March sales transaction volume."

The cumulative housing sales transactions for March were 325,275 cases, an increase of 124.2% compared to 145,087 cases in the same period last year, and a 55.4% increase compared to the 5-year average of 209,357 cases.

Looking at the regions, the transaction volume in the metropolitan area was 65,051 cases, a 2.1% decrease compared to the previous month, but a 190.7% increase compared to the same month last year.

In the provinces, the total was 43,626 cases, a 10.6% decrease compared to the previous month, but a 50.5% increase compared to the same month last year.

By type, apartment transactions were 79,615 cases, a 9.2% decrease compared to the previous month, but a 150.7% increase compared to the same month last year.

Other than apartments, there were 29,062 transactions, which increased by 5.2% compared to the previous month and 48.3% compared to the same month last year.

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