In December Last Year, Nationwide Apartment Sales Increased by 97% Compared to the Previous Year

[Asia Economy Reporter Moon Jiwon] In December of last year, the nationwide sales performance of multi-family housing units increased by 97% compared to the same period the previous year. However, permits and completion performance decreased during the same period.

According to the Ministry of Land, Infrastructure and Transport on the 28th, housing construction performance data shows that in December last year, housing permit performance nationwide was 96,803 units, a 3.8% decrease compared to the same month the previous year (100,635 units).

The metropolitan area recorded 60,737 units, increasing by 3.8% compared to the previous year and 10.3% compared to the 5-year average, while the provinces recorded 36,066 units, decreasing by 14.4% compared to the previous year and 14.8% compared to the 5-year average. Seoul saw an increase of 16.8% with 7,724 units.

Nationwide apartment permits totaled 87,456 units, down 5.5% year-on-year, while non-apartment housing permits increased by 15.5% to 9,347 units.

Housing start performance nationwide was 106,189 units, a 0.4% increase compared to the same month last year (105,733 units). The metropolitan area recorded 63,673 units, a 13.6% decrease year-on-year, whereas the provinces increased by 32.7% to 42,516 units.

Nationwide apartment housing starts were 97,449 units, down 1.2%, while non-apartment housing starts increased by 22.9% to 8,740 units.

Multi-family housing sales performance nationwide was 56,028 units, a 97.0% increase compared to the same month last year (28,440 units). The metropolitan area (24,555 units) increased by 30.6% year-on-year, while the provinces (31,473 units) saw a significant increase of 226.7%.

General sales were 41,943 units, up 148.2% year-on-year, and rental housing was 8,018 units, up 531.8%. Cooperative member units decreased by 40.9% to 6,067 units.

Completion performance nationwide was 41,378 units, down 29.5% compared to the same month last year (58,698 units), with Seoul slightly decreasing by 3.1% to 8,702 units.

The metropolitan area (23,180 units) decreased by 5.6%, and the provinces (18,198 units) decreased by 46.7% year-on-year.

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