May Nationwide Housing, Decrease in Sales and Completion Performance

[Asia Economy Reporter Yoo In-ho] Last month, the nationwide housing sales and completion figures decreased. On the other hand, the housing starts and permits increased.

According to the Ministry of Land, Infrastructure and Transport on the 29th, last month's apartment sales nationwide were 41,357 units, down 6.4% compared to the same month last year (44,189 units). By region, the metropolitan area recorded 23,541 units, an 8.2% increase compared to the previous year, while the provinces recorded 17,816 units, a 20.5% decrease.

General sales were 29,657 units, up 7.3% year-on-year, and rental housing was 3,981 units, up 11.5% during the same period. Cooperative member units were 7,719 units, down 40.5% compared to the previous year.

Housing completions in May also decreased by 13.9% year-on-year to 37,879 units nationwide (43,985 units in the same month last year). By region, Seoul recorded 5,634 units, a 32.3% increase compared to the same month last year. The metropolitan area recorded 17,079 units, up 31.8% year-on-year, and the provinces recorded 20,800 units, up 9.8% respectively.

Housing permits in May were 28,279 units nationwide, down 3.8% compared to the same month last year (29,398 units). By region, Seoul recorded 4,124 units, a 22.1% increase compared to the same month last year. The metropolitan area recorded 15,738 units, up 10.7% year-on-year, while the provinces recorded 12,541 units, down 17.4%.

Last month's housing starts were 44,717 units nationwide, up 7.7% compared to the same month last year (41,529 units).

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