March Nationwide Housing Market Outlook Slightly Improved... Still Cloudy Except Seoul, Gyeonggi, and Busan

March Nationwide Housing Sales Sentiment Index (HSSI) / Data provided by Korea Housing Industry Research Institute

[Asia Economy Reporter Hwang Seoyul] The nationwide housing pre-sale market outlook for March has slightly improved compared to last month, but it is not entirely positive.

The Korea Housing Industry Research Institute (KHIRI) announced on the 17th that the Housing Sales Sentiment Index (HSSI) for March nationwide rose by 6.1 points from last month to 77.6, but it has remained in the 70s range for three consecutive months. The HSSI is an indicator compiled by surveying housing developers about their outlook on the pre-sale market. A figure below the baseline (100) indicates a negative market outlook.

By region, some areas such as Seoul, Gyeonggi, and Busan maintain expectations with outlook scores in the 80s, similar to last month. Seoul (89.7) and Gyeonggi (87.8) increased by 4.9 points and 14.2 points respectively from last month. Busan recorded 85.7 despite a 5.2-point decrease.

Other regions seem to have a prevailing perception that the pre-sale market will not perform well. Gangwon (80.0) and Chungnam (85.7) recorded scores in the 80s, while Gwangju (78.9), Daejeon (70.5), Ulsan (78.5), and Chungbuk (70.0) recorded scores in the 70s. Daegu recorded 53.8, down 3.8 points from last month, marking the lowest figure nationwide for the second consecutive month.

KHIRI analyzed that “except for some regions with high housing demand, the prevailing perception is that optimistic outlooks on the pre-sale market are difficult.”

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