October Nationwide Housing Sales Volume Rebounds... Seoul Decreases by 1.2%

Monthly Nationwide Housing Sales Volume (Data from the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] Nationwide housing sales transactions in October increased by 13.2% compared to the previous month, rebounding for the first time in three months. However, in Seoul, sales transactions decreased by 1.2% compared to the previous month and by 24.9% compared to the same month last year.

According to the 'October Housing Sales Transactions' data released by the Ministry of Land, Infrastructure and Transport on the 19th, last month's nationwide housing transactions totaled 92,769 cases, a 13.2% increase from 81,928 cases in September.

After a decline from 141,000 cases in July, 85,000 cases in August, and 82,000 cases in September, the market rebounded after three months.

Following the government's strong real estate measures announcement, the real estate sales market in the metropolitan area and provinces is regaining momentum.

In fact, housing transactions in the metropolitan area reached 41,884 cases, a 10.0% increase compared to the previous month, and in the provinces, 50,885 cases, also a 16.1% increase from the previous month.

On the other hand, in Seoul, last month's housing transactions were 10,629 cases, a 1.2% decrease from 10,755 cases in September.

By housing type, apartments recorded 66,174 cases, a 14.0% increase compared to the previous month and a 13.5% increase compared to the same month last year.

Non-apartment housing sales transactions totaled 26,595 cases, increasing by 11.3% compared to the previous month and 10.4% compared to the same month last year.

Monthly Nationwide Jeonse and Wolse Transaction Volume (Data from Ministry of Land, Infrastructure and Transport)

Based on confirmed date data, nationwide monthly rental and lease transactions totaled 172,815 cases, a 1.3% decrease from 175,126 cases in the previous month.

In the metropolitan area, there were 119,123 cases, a 1.1% decrease compared to the previous month, and in the provinces (53,692 cases), a 1.7% decrease. Seoul recorded 55,665 cases, a 1.9% increase from 54,632 cases in the previous month.

By housing type, monthly rental and lease transactions for apartments were 86,145 cases, a 0.4% increase compared to the previous month. Non-apartment housing transactions were 86,670 cases, a 3.0% decrease.

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