28,000 Unsold Houses Nationwide... Sejong Records Zero Unsold Units for 4 Consecutive Years

[Asia Economy Reporter Chunhee Lee] As of the end of August, nationwide unsold housing units decreased by 0.2% 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 52nd consecutive month.

The Ministry of Land, Infrastructure and Transport announced on the 4th that as of the end of August, the total number of unsold housing units nationwide was 28,831. This is a 0.2% (52 units) decrease compared to 28,883 units in July.

By region, the metropolitan area had 3,166 units, and the provinces had 25,665 units, with the provinces accounting for an overwhelming majority of unsold housing. However, while the metropolitan area increased by 0.7% (21 units) from 3,145 units in the previous month, the provinces decreased by 0.3% (73 units) from 25,738 units.

Notably, among the 17 metropolitan local governments nationwide, Sejong was the only area with zero unsold housing units. Since the last 3 unsold units in Sejong were sold out 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 8,841 unsold units. Although the number of unsold units in Gyeongnam decreased from 12,269 at the end of last year to 9,971 in May, falling below 10,000 units, it slightly increased by 299 units compared to 8,542 units in June. Gyeongbuk (3,423 units), Chungnam (3,233 units), Gangwon (2,816 units), and Gyeonggi (2,585 units) followed.

By size, based on the 'national housing standard' of 85㎡, there were 1,937 unsold medium-to-large units exceeding this size and 26,984 small-to-medium units below this size. Medium-to-large units increased by 1.0% compared to the previous month, while small-to-medium units decreased by 0.3%.

Post-construction unsold units, known as 'malignant unsold housing,' numbered 17,781 units, a 4.2% decrease from 18,560 units in July. By region, Gyeongnam had the most with 6,001 units, followed by Gyeongbuk with 2,731 units, Chungnam with 1,833 units, and Gyeonggi with 1,649 units.

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