Nationwide Increase in Permits, Construction Starts, and Sales... Rental Housing Sales Up 7083% YoY

(Data provided by the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Moon Jiwon] Last month, nationwide housing permits, construction starts, and sales performance increased compared to the same month last year, while completion performance slightly decreased. Nationwide rental housing sales increased by more than 7000% compared to one year ago.

According to the Ministry of Land, Infrastructure and Transport on the 29th, housing permit performance in March was 45,354 units nationwide, a 34.8% increase compared to the same month last year (33,648 units). Seoul recorded 6,691 units, up 44.9%, the 수도권 (Capital Region) increased by 34.2% to 22,067 units. The provinces increased by 35.3% to 23,287 units compared to the previous year.

Apartment permits increased by 40.7% to 34,677 units, and non-apartment housing permits increased by 18.6% to 10,677 units.

Housing construction starts in March were 58,737 units nationwide, a 63.1% increase compared to the same month last year (36,014 units).

The 수도권 (Capital Region) (30,755 units) increased by 47.1%, and the provinces (27,982 units) increased by 85.3%. Nationwide apartments increased by 82.7% to 47,694 units, and non-apartment housing increased by 11.5% to 11,043 units.

Apartment sales performance nationwide surged 221% to 39,328 units compared to the same month last year (12,252 units).

The 수도권 (Capital Region) increased by 54.7% to 12,218 units, while the provinces surged by 522.5% to 27,110 units.

General sales (22,946 units) increased by 142.8%, and rental housing sales reached 10,775 units, a staggering 7083.3% increase compared to one year ago (150 units). Cooperative member sales were 5,607 units, up 111.5% compared to the previous year.

Finally, housing completion performance was recorded at 27,992 units nationwide, a 10.7% decrease compared to the same month last year (31,348 units). The 수도권 (Capital Region) (13,767 units) decreased by 17.5%, and the provinces (14,225 units) decreased by 3.0%.

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