August Metropolitan Area Housing Sales Down 3.3% Year-on-Year... Provincial Areas Up 12.4%

by Mun Jewon

Published 01 Oct.2021 06:00(KST)

[Image source=Yonhap News]

In August, the nationwide volume of housing sales transactions slightly increased compared to the same month last year, but the transaction volume in the 수도권 (Capital Region) decreased. Based on cumulative data from January to August, housing transactions in the 수도권 dropped by 21% compared to the previous year, indicating a deepening transaction cliff.

According to the Ministry of Land, Infrastructure and Transport on the 30th, the total number of nationwide housing sales transactions in August (based on the reporting date) was 89,057, which is a 0.1% increase from the previous month (88,937) and a 4.4% increase from the same month last year (85,272).

However, the cumulative total from January to August was 737,317 transactions, a 13.0% decrease compared to the same period last year (847,569).

The 수도권 transaction volume in August was 41,668, down 1.0% from the previous month and 3.3% from the same month last year. In contrast, transactions in 지방 (non-capital regions) were 47,389, up 1.1% from the previous month and 12.4% from the same month last year.

Looking at the cumulative data, 수도권 (362,082 transactions) decreased by 21.0% compared to the same period last year, while 지방 (375,235 transactions) decreased by 3.6%.

The volume of monthly rent and jeonse (long-term lease) transactions in August (based on the reporting date) totaled 211,462, which is a 4.0% increase from the previous month (203,251) and a 20.6% increase from the same month last year (175,355).

The cumulative volume of monthly rent and jeonse transactions up to August was 1,573,602, a 6.0% increase compared to the same period last year (1,484,882).

In the 수도권, transactions numbered 146,597, up 5.8% from the previous month and 23.4% from the same month last year, while 지방 recorded 64,865 transactions, up 0.2% from the previous month and 14.7% from the same month last year.

By lease type, both jeonse (116,588 transactions) and monthly rent (94,874 transactions) increased compared to one year ago.

(Data provided by the Ministry of Land, Infrastructure and Transport)

As of the end of August, the total number of unsold houses nationwide was 14,864, down 2.2% (334 units) from the previous month (15,198).

In the 수도권, there were 1,183 unsold houses, a 14.3% decrease from the previous month (1,381), while 지방 had 13,681 unsold houses, a 1.0% decrease from the previous month (13,817).

The number of unsold houses in the 수도권 has sharply declined from 3,166 units in August last year to 2,131 in December of the same year, 1,589 in April this year, and 1,183 in August.

Unsold houses after completion totaled 8,177, down 4.5% from the previous month (8,558). Unsold medium-to-large houses over 85㎡ numbered 451, down 4.2% from the previous month, while those 85㎡ or smaller numbered 14,413, down 2.1%.