Housing Permits from January to July This Year Total 277,000 Units... 21% Increase Compared to Previous Year

[Image source=Yonhap News]

The Ministry of Land, Infrastructure and Transport announced on the 31st that the nationwide housing permit volume from January to July this year reached 277,354 units, marking a 21.1% increase compared to the same period last year.

According to the Ministry, the Seoul metropolitan area recorded 143,140 units, an 18.1% increase from one year ago, while other regions saw 134,214 units, a 24.5% rise.

In Seoul, the permit volume was 46,041 units, up 52.3% from 30,233 units during the same period.

By housing type, apartments accounted for 206,800 units, a 23.1% increase compared to last year, while non-apartment housing rose by 15.7% to 70,554 units.

The number of housing starts nationwide from January to July was 310,937 units, an 11.8% increase year-on-year. The Seoul metropolitan area saw a slight increase of 0.2% to 152,180 units, while other regions increased by 25.6% to 158,757 units. Apartments (230,326 units) increased by 5.4% compared to the previous year, and non-apartment housing (80,611 units) rose by 35.2%.

The supply volume of multi-family housing nationwide from January to July was 184,321 units, a 2.2% decrease compared to 188,437 units in the same period last year. General sales accounted for 136,348 units, rental housing for 25,072 units, and cooperative member units decreased by 48.1% to 22,901 units.

During the same period, the number of completed housing units nationwide was 215,475, a 26.4% decrease compared to 292,807 units in the previous year. The Seoul metropolitan area saw a 17.1% decrease to 129,429 units, while other regions experienced a 37.1% decline to 86,046 units.

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