There Are No Unsold Units in Sejong's 'Cheondoron'

[Asia Economy Reporter Lee Chun-hee] As of the end of July, nationwide unsold housing units decreased by 1.3% compared to the previous month, while Sejong, where discussions on the 'administrative capital relocation' are gaining momentum, continued its record of sold-out units for the 51st consecutive month.

The Ministry of Land, Infrastructure and Transport announced that as of the end of July, the total number of unsold housing units nationwide was 28,883. This is a 1.3% (379 units) decrease compared to 29,262 units in June.

By region, the metropolitan area had 3,145 units, and the provinces had 25,738 units, with the provinces accounting for an overwhelming majority of unsold housing. However, while the metropolitan area saw a 13.5% increase from 2,772 units in the previous month to 3,145 units, centered around Goyang (325 units) and Yangju (191 units), the provinces showed a 2.8% decrease from 26,490 units in the previous month.

Notably, among the 17 metropolitan local governments nationwide, Sejong was the only area with zero unsold housing units. Since all three remaining unsold units in Sejong were sold in April 2016, the number of unsold housing units has remained at '0' for four years since May 2016.

The local government with the highest number of unsold housing units nationwide was Gyeongnam. Currently, Gyeongnam has 8,840 unsold units. Although the number of unsold units in Gyeongnam decreased from 12,269 units at the end of last year to 9,971 units in May, falling below 10,000 units, it slightly increased by 298 units compared to 8,542 units in June. Gyeongbuk (3,276 units), Chungnam (3,266 units), Gangwon (3,015 units), and Gyeonggi (2,793 units) followed.

By size, unsold medium-to-large units exceeding the 'national housing standard' of 85㎡ numbered 1,918, while small-to-medium units below that size numbered 26,965. Both showed decreases of 11.5% and 0.5%, respectively, compared to the previous month.

Post-construction unsold units, known as 'malignant unsold housing,' totaled 18,560 units, a 0.8% decrease from 18,718 units in June. By region, Gyeongnam had the highest number with 6,383 units, followed by Gyeongbuk with 2,471 units, Chungnam with 1,948 units, and Gyeonggi with 1,727 units.

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