May Nationwide Housing Sales Volume Increases 16.8% Year-on-Year

A view of the apartment complexes in the Gangnam area as seen from the Lotte World Tower Sky Observatory in Songpa-gu, Seoul. Photo by Dongju Yoon doso7@

[Asia Economy Reporter Moon Jiwon] Last month, the nationwide housing sales transaction volume increased by nearly 17% compared to the same month last year.

According to the Ministry of Land, Infrastructure and Transport on the 30th, the nationwide housing sales transaction volume (based on the reporting date) last month totaled 97,524 cases, showing a 4.8% increase compared to the previous month (93,068 cases) and a 16.8% increase compared to the same month last year (83,494 cases).

The metropolitan area (47,389 cases) increased by 5.3% compared to the previous month and by 17.8% compared to the same month last year, while the provinces (50,135 cases) increased by 4.3% compared to the previous month and by 15.9% compared to the same month last year.

On a cumulative basis up to last month, the metropolitan area (236,324 cases) decreased by 10.5% compared to the same period last year, while the provinces (234,077 cases) increased by 7.2%.

Apartments (61,666 cases) increased by 4.1% compared to the previous month and by 7.4% compared to the same month last year, while non-apartment housing types (35,858 cases) also increased by 6.0% compared to the previous month and by 37.6% compared to the same month last year.

Last month, the total monthly rent and deposit transaction volume was recorded at 173,631 cases.

Although this is a 6.9% decrease compared to the previous month (186,560 cases), it is a 1.7% increase compared to the same month last year (170,747 cases).

The cumulative monthly rent and deposit transaction volume up to last month (958,342 cases) increased by 2.1% compared to the same period last year (938,477 cases).

Apartment jeonse (long-term deposit lease) transactions (80,171 cases) decreased by 7.5% compared to the previous month and increased by 0.3% compared to the same month last year, while non-apartment transactions (93,460 cases) decreased by 6.4% compared to the previous month and increased by 2.9% compared to the same month last year.

Looking at the types of leases, jeonse transactions (103,466 cases) decreased by 3.2% compared to the previous month and increased by 2.0% compared to the same month last year. Monthly rent transactions (70,165 cases) also showed a similar trend, decreasing by 11.9% compared to the previous month and increasing by 1.2% compared to the same month last year.

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