30,647 Housing Units Approved in February... 11.4% Decrease Year-on-Year
This February: 34,000 Housing Units, 42,000 Under Construction, 19,000 Sold, 33,000 Completed
[Asia Economy Reporter Kangwook Cho] The Ministry of Land, Infrastructure and Transport announced on the 30th that the nationwide housing permits in February amounted to 33,647 units, a decrease of 11.4% compared to the same month last year (37,980 units).
During the same period, Seoul recorded 6,904 units, an increase of 22.2%, while the metropolitan area had 18,573 units, a decrease of 29.1%. The provinces saw 15,072 units, an increase of 28.1% compared to the previous year.
By housing type, nationwide apartment permits totaled 25,789 units, down 15.0% from a year earlier, while non-apartment housing permits increased by 2.7% to 7,858 units.
The supply of multi-family housing units for sale in February nationwide was 19,447 units, up 15.8% from 16,796 units in the same month last year. By region, the metropolitan area had 11,011 units and the provinces had 8,436 units, increasing by 24.1% and 6.5% respectively compared to the previous year.
General sales units increased by 56.7% to 17,128 units compared to the previous year, while rental housing units were 84 units and cooperative member units were 2,235 units, decreasing by 94.3% and 49.1% respectively compared to the previous year.
The number of housing completions in February nationwide was 32,905 units, down 18.5% from 40,386 units in the same month last year. The metropolitan area had 20,566 units and the provinces had 12,339 units, decreasing by 15.1% and 23.7% respectively compared to the previous year. Nationwide apartments totaled 25,991 units, down 19.4% year-on-year, and non-apartment housing totaled 6,914 units, down 15.1% year-on-year.
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The number of housing starts in February nationwide was 42,306 units, an increase of 81.0% compared to 23,373 units in the same month last year. The metropolitan area recorded 26,016 units, up 125.7%, and the provinces recorded 16,290 units, up 37.5%.
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