180,000 Housing Units Nationwide Permitted from January to May... 20% Increase Year-on-Year

[Asia Economy Reporter Kangwook Cho] The Ministry of Land, Infrastructure and Transport announced on the 30th that the cumulative number of housing permits nationwide from January to May reached 186,743 units, marking a 19.9% increase compared to the same period last year.

In the metropolitan area, there were 94,144 units, up 11.1% from a year earlier, while the provinces saw 92,599 units, a 30.4% increase. In Seoul, the number rose by 39.6% to 30,915 units. During the same period, apartment permits nationwide totaled 139,468 units, up 22.1%, and non-apartment housing permits reached 47,275 units, increasing by 13.9%.

From January to May, the nationwide supply of apartment units for sale was 120,430 units, a 25.2% increase compared to the same period last year. The metropolitan area accounted for 54,373 units, up 4.3%, while the provinces saw 66,057 units, a 49.8% increase. General sales units rose by 44.4% to 95,416 units, and rental housing units increased by 10.6% to 12,946 units. Units allocated to association members decreased by 34.5% to 12,068 units.

Housing starts from January to May totaled 226,694 units nationwide, a 35.0% increase compared to the same period last year. The metropolitan area recorded 113,633 units, up 24.9%, and the provinces had 113,061 units, a 47.0% increase. Apartments (166,938 units) increased by 31.0%, while non-apartment housing (59,756 units) rose by 47.4%.

Housing completions from January to May totaled 144,087 units nationwide, down 23.8% from the same period last year. The metropolitan area saw 85,544 units, a decrease of 11.9%, and the provinces had 58,543 units, down 36.3%. Apartments (106,446 units) and non-apartment housing (37,641 units) decreased by 28.5% and 6.1%, respectively.

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