Permits, Housing Starts, Sales, and Completions
All Increase Year-on-Year
The Ministry of Land, Infrastructure and Transport released housing statistics as of January, reporting that permits, housing starts, sales (unit offerings), and completions all increased compared with the same period a year earlier. Housing sales transactions in January (based on reporting date) totaled 43,033, up 13.1% from the previous month, while jeonse and monthly-rent transactions (based on reporting date) totaled 247,622, up 17.1% from the previous month. As of the end of January, unsold housing units totaled 63,755, up 2.0% (1,266 units) from the previous month (62,489 units). Unsold units after completion numbered 11,363, up 4.7% (506 units) from the previous month (10,857 units).
Housing permits in January came to 25,810 units, up 20.5% year-on-year. January permits in the Seoul metropolitan area totaled 10,967 units, up 108.5% year-on-year, while permits in provincial regions totaled 14,843 units, down 8.2% year-on-year. By type, apartment permits in January totaled 22,906 units, up 23.5% year-on-year, while non-apartment permits totaled 2,904 units, up 1.0% year-on-year.
Housing starts in January came to 22,975 units, up 47.2% year-on-year. January starts in the metropolitan area totaled 12,630 units, up 26.6% year-on-year, while starts in provincial regions totaled 10,345 units, up 83.7% year-on-year. By type, apartment starts in January totaled 20,702 units, up 53.1% year-on-year, while non-apartment starts totaled 2,273 units, up 8.5% year-on-year.
Housing sales (approvals) in January came to 13,830 units, up 646.8% year-on-year. January sales in the metropolitan area totaled 7,906 units, up 669.8% year-on-year, while sales in provincial regions totaled 5,924 units, up 618.1% year-on-year. By type, general sales in January rose 420.9% year-on-year, rental housing rose 1,818.8%, and members' allocations rose 4,087.0%.
Housing completions in January came to 36,762 units, up 127.8% year-on-year. January completions in the metropolitan area totaled 19,884 units, up 183.6% year-on-year, while completions in provincial regions totaled 16,878 units, up 84.9% year-on-year. By type, apartment completions in January totaled 32,242 units, up 184.1% year-on-year, while non-apartment completions totaled 4,520 units, down 5.7% year-on-year.
Housing sales transactions in January (based on reporting date) totaled 43,033. The metropolitan area (17,608 transactions) rose 16.7% from the previous month and 71.0% year-on-year, while provincial regions (25,425 transactions) rose 10.8% from the previous month and 64.4% year-on-year. Apartments (32,111 transactions) rose 19.2% from the previous month and 80.0% year-on-year, while non-apartment properties (10,922 transactions) fell 1.6% from the previous month but rose 37.9% year-on-year.