April Seoul Apartments: 302% Increase in Construction Starts and 410% Increase in Completions Compared to Last Year
[Asia Economy Reporter Moon Jiwon] Last month, nationwide housing starts, sales, and completions increased compared to last year, but permits decreased.
In the case of Seoul apartments, permits increased by 111.6%, starts by 302.5%, and completions by 410.2% compared to the same month last year.
According to the Ministry of Land, Infrastructure and Transport on the 28th, last month's housing permit performance nationwide was 31,884 units, a 10.5% decrease compared to the same month last year (35,616 units).
The metropolitan area recorded 14,131 units, down 35.2% from last year, while the provinces (17,753 units) and Seoul (4,340 units) increased by 28.5% and 26.1%, respectively, compared to last year.
Nationwide apartment permits were 22,616 units, down 4.6% from last year, but Seoul apartments increased by 111.6% to 2,141 units.
Last month's housing starts nationwide were 47,318 units, a 30.0% increase compared to the same month last year (36,389 units). The metropolitan area recorded 25,391 units, up 31.0%, and the provinces 21,927 units, up 29.0%.
Nationwide apartments were 37,991 units, a 50.0% increase from last year, and Seoul apartments were 9,000 units, up 302.5%. On the other hand, non-apartment housing nationwide was 9,327 units, down 15.7%.
Multi-family housing sales totaled 25,772 units nationwide, a 74.6% increase from the same month last year (14,760 units). The metropolitan area recorded 11,776 units, up 30.4%, and the provinces 13,996 units, up 144.3%.
Last month's housing completions nationwide were 47,827 units, a 32.7% increase compared to the same month last year (36,029 units), and Seoul recorded 7,128 units, up 71.3%.
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Nationwide apartments were 39,266 units, a 54.0% increase from last year. Seoul apartments increased by 410.2% to 5,000 units during the same period, but non-apartment housing nationwide was 8,561 units, down 18.8%.
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