Nationwide permits total 97,000 homes; increases in the Seoul metropolitan area, declines in provincial regions
Nationwide unsold housing stands at 19,000 homes, down 19.5% from the previous month
According to the Ministry of Land, Infrastructure and Transport, housing permits in December 2020 totaled 96,803 homes nationwide, a slight decrease of 3.8% compared with the same month of the previous year (100,635 homes), while Seoul recorded 7,724 homes, up 16.8% year-on-year.
By region, the Seoul metropolitan area recorded 60,737 homes, up 3.8% year-on-year and 10.3% above the five-year average, while provincial regions recorded 36,066 homes, down 14.4% year-on-year and 14.8% below the five-year average. By type, apartments nationwide totaled 87,456 homes, down 5.5% year-on-year, while non-apartment housing totaled 9,347 homes, up 15.5% year-on-year.
Housing construction starts in December 2020 totaled 106,189 homes nationwide, up 0.4% compared with the same month of the previous year (105,733 homes). By region, the Seoul metropolitan area recorded 63,673 homes, down 13.6% year-on-year but up 24.0% above the five-year average, while provincial regions recorded 42,516 homes, up 32.7% year-on-year and 9.9% above the five-year average. By type, apartments nationwide totaled 97,449 homes, down 1.2% year-on-year, while non-apartment housing totaled 8,740 homes, up 22.9% year-on-year.
Sales of multi-family housing in December 2020 totaled 56,028 homes nationwide, up 97.0% compared with the same month of the previous year (28,440 homes). By region, the Seoul metropolitan area recorded 24,555 homes, up 30.6% year-on-year and 54.4% above the five-year average, while provincial regions recorded 31,473 homes, up 226.7% year-on-year and 79.4% above the five-year average. By type, general sales totaled 41,943 homes, up 148.2% year-on-year; rental housing totaled 8,018 homes, up 531.8% year-on-year; and member allocations totaled 6,067 homes, down 40.9% year-on-year.
Housing completions in December 2020 totaled 41,378 homes nationwide, down 29.5% compared with the same month of the previous year (58,698 homes), while Seoul recorded 8,702 homes, a slight decrease of 3.1% year-on-year.
By region, the Seoul metropolitan area recorded 23,180 homes, down 5.6% year-on-year and 24.3% below the five-year average, while provincial regions recorded 18,198 homes, down 46.7% year-on-year and 42.4% below the five-year average. By type, apartments nationwide totaled 31,034 homes, down 35.6% year-on-year, while non-apartment housing totaled 10,344 homes, down 1.6% year-on-year.
As of the end of December 2020, unsold housing nationwide totaled 19,005 homes, down 19.5% (4,615 homes) from the previous month (23,620 homes). The Seoul metropolitan area recorded 2,131 homes, down 33.1% (1,052 homes) from the previous month (3,183 homes), while provincial regions recorded 16,874 homes, down 17.4% (3,563 homes) from the previous month (20,437 homes). Unsold housing completed after construction totaled 12,006 homes, down 14.6% (2,054 homes) from the previous month (14,060 homes).
By size, among total unsold stock, mid- to large-sized unsold units exceeding 85㎡ totaled 700 homes, down 31.1% (316 homes) from the previous month (1,016 homes), while units of 85㎡ or less totaled 18,305 homes, down 19.0% (4,299 homes) from the previous month (22,604 homes).