Sharp Rise in Unsold Units in January, Transaction Volume Plummets... Approvals and Sales Increased

Unsold Housing Units Up 22.7% Month-on-Month
Housing Sales Volume Down 22.4%
Permits Up 51.3%... Pre-Sales Up 47.5%

In January, the number of unsold houses nationwide increased by about 23% compared to the previous month, while the volume of sales transactions decreased by about 22%.

On the 28th, the Ministry of Land, Infrastructure and Transport announced that as of the end of January, the total number of unsold houses nationwide was 21,727 units, an increase of 22.7% (4,017 units) compared to the previous month (17,710 units).

In the metropolitan area, there were 1,325 units, a decrease of 12.2% (184 units) compared to the previous month (1,509 units), while in the provinces, there were 20,402 units, an increase of 25.9% (4,201 units) compared to the previous month (16,201 units).

Looking at the unsold units by size, unsold medium to large units over 85㎡ numbered 1,424 units, an increase of 39.7% (405 units) compared to the previous month (1,019 units), and units 85㎡ or less numbered 20,303 units, an increase of 21.6% (3,612 units) compared to the previous month (16,691 units).

The volume of housing sales transactions totaled 41,709 cases, a decrease of 22.4% compared to the previous month (53,774 cases). Compared to the same month last year, it decreased by 54.0%.

By region, the metropolitan area recorded 16,209 transactions, a 24.9% decrease compared to the previous month. The provinces recorded 25,500 transactions, a 20.8% decrease compared to the previous month.

By housing type, apartments recorded 24,465 transactions, a 19.7% decrease compared to the previous month, while non-apartment housing recorded 17,244 transactions, a 26.0% decrease compared to the previous month.

The total volume of Jeonse and monthly rent transactions in January, combining lease reporting system data and fixed date reporting data, was 204,497 cases. This is a 5.1% decrease compared to the previous month (215,392 cases), but a 13.9% increase compared to the same month last year (179,537 cases).

Looking at the types of Jeonse and monthly rent, Jeonse transactions numbered 111,319 cases, a 4.0% decrease compared to the previous month and a 5.1% increase compared to the same month last year.

The share of monthly rent transactions was 45.6%, an increase of 4.6 percentage points compared to the same month last year (41.0%).

In January, housing construction performance showed a significant increase in permits and sales, but a decrease in groundbreaking and completion volumes.

First, the number of permits in January nationwide was 39,614 units, an increase of 51.3% compared to the same month last year (26,183 units). In the metropolitan area, it was 15,164 units, up 24.7% compared to the same month last year, and in the provinces, it was 24,450 units, up 74.4% compared to the same month last year.

Groundbreaking performance nationwide was 18,848 units, a decrease of 32.6% compared to the same month last year (27,982 units). In the metropolitan area, it was 10,277 units, down 40.4% compared to the same month last year, and in the provinces, it was 8,571 units, down 20.1% compared to the same month last year.

Sales performance of multi-family housing nationwide was 19,847 units, an increase of 47.5% compared to the same month last year (13,454 units). In the metropolitan area, it was 13,110 units, up 52.0% compared to the same month last year, and in the provinces, it was 6,737 units, up 39.5%.

Completion performance nationwide was 21,308 units, a decrease of 36.4% compared to the same month last year (33,512 units). In the metropolitan area, it was 13,319 units, down 41.7% compared to the same month last year, and in the provinces, it was 7,989 units, down 25.2% compared to the same month last year.

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