14,018 Apartment Households in Seoul
Home Sales Up 36.8% in April
According to the Ministry of Land, Infrastructure and Transport, a total of 106,682 apartment households are scheduled for occupancy nationwide during June–August 2020 (a three-month period), up 7.9% from the five-year average (99,000 households). Seoul is expected to see a sharp increase to 14,018 households, up 64.6% from the five-year average (9,000 households) and up 51.6% from the same period last year (9,000 households).
Looking at the detailed occupancy volume, in the Seoul metropolitan area, 12,237 households are scheduled to move in during June 2020, including Yangju Okjeong (2,038 households) and Godeok Gangil (1,244 households); 27,949 households during July 2020, including Seongnam Sujeong (4,089 households) and Incheon Songdo (3,100 households); and 24,368 households during August 2020, including Gimpo Gochon (3,510 households) and Hwaseong Dongtan 2 (2,512 households). In provincial areas, 14,564 households are scheduled to move in during June 2020, including Sacheon in South Gyeongsang (1,738 households) and Wonju in Gangwon (1,695 households); 14,720 households during July 2020, including Muan in South Jeolla (1,531 households) and Jeonju in North Jeolla (1,390 households); and 12,844 households during August 2020, including Busan Myeongji (2,936 households) and Cheongju Dongnam (1,486 households).
By housing size, there were 36,685 households of 60㎡ or less, 60,826 households of 60–85㎡, and 9,171 households exceeding 85㎡, with small- and mid-sized homes of 85㎡ or less accounting for 91.4% of the total, indicating a large occupancy volume of small- and mid-sized homes. By developer type, there were 79,655 private-sector households and 27,027 public-sector households.
Meanwhile, the volume of home sales transactions in April 2020 (73,531 cases) fell 32.3% from the previous month (108,677 cases), rose 28.9% from the same month last year (57,025 cases), and fell 10.5% from the five-year average (82,189 cases).
The cumulative volume of home sales transactions as of April 2020 (398,806 cases) rose 97.3% from the same period last year (202,112 cases) and 36.8% from the five-year average (291,545 cases).
Transaction volume in the Seoul metropolitan area in April 2020 (36,852 cases) fell 43.3% from the previous month but rose 45.3% from the same month last year, while provincial areas (36,679 cases) fell 15.9% from the previous month but rose 15.9% from the same month last year. On a cumulative basis as of April 2020, metropolitan-area transaction volume (223,741 cases) rose 152.5% and provincial areas (175,065 cases) rose 54.2% from the same period last year.
By type, apartment transaction volume in April 2020 (48,972 cases) fell 38.5% from the previous month but rose 36.4% from the same month last year, while non-apartment transactions (24,559 cases) fell 15.5% from the previous month but rose 16.2% from the same month last year. On a cumulative basis as of April 2020, apartment transaction volume (292,215 cases) rose 129.6% and non-apartment transactions (106,591 cases) rose 42.4% from the same period last year.