6 out of 10 Houses Nationwide Are 'Apartments'... Sejong Tops Housing Growth Rate

Statistics Korea to Announce '2020 Population and Housing Census Results' on the 29th

[Image source=Yonhap News]

[Asia Economy Reporter Jang Sehee] Last year, six out of ten houses nationwide were apartments. Sejong showed the highest housing growth rate.

According to the '2020 Population and Housing Census Results' announced by Statistics Korea on the 29th, as of November 1st last year, the total number of houses was 18.53 million, an increase of 400,000 houses (2.2%) compared to 2019. Among them, apartments accounted for 11.66 million houses, representing 62.9% of all houses.

The number of apartments increased by 380,000 houses (0.7 percentage points) from 11.29 million in 2019. The proportion of apartments among total houses was 47.8% in 2000, exceeded half at 52.7% in 2005, surpassed 60% at 60.1% in 2016, and has continued to rise since then.

Among the 11.66 million apartments, 4.97 million (42.7%) were over 20 years old. Apartments over 30 years old accounted for 1.12 million (9.6%).

In the metropolitan area (Seoul, Incheon, Gyeonggi), there were 8.543 million houses, accounting for 46.1% of the total. Gyeonggi had 4.495 million houses, Seoul had 3.015 million, and Gyeongnam had 1.297 million. The area with the largest increase in housing was Gyeonggi (140,000 houses).

The housing growth rate was highest in Sejong at 3.5% compared to the previous year, and lowest in Ulsan and Daejeon at 0.8%.

Vacant houses numbered 1.511 million, a decrease of 7,000 from 1.518 million last year. Apartment vacancies were the highest at 830,000, and single-family house vacancies were 339,000.

By region, Gyeonggi had the most vacant houses at 272,000 (18.0%), followed by Gyeongnam with 151,000 (10.0%), and Gyeongbuk with 140,000 (9.2%).

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