Nationwide Unsold Houses Total 36,629 Units, Down 41% Year-on-Year

[Asia Economy Reporter Yoo In-ho] The Ministry of Land, Infrastructure and Transport announced on the 28th that the total number of unsold houses nationwide was 36,629 units as of the end of last month. This represents a 41% decrease compared to one year ago.

According to the Ministry of Land, Infrastructure and Transport on this day, the number of unsold houses nationwide has been continuously decreasing: 62,041 units in April last year, 56,098 units in October, 39,456 units in February this year, 38,304 units in March, and 36,629 units in April.

Unsold houses after completion were recorded at 16,372 units as of the end of last month, a 1.7% (277 units) decrease compared to the previous month (16,649 units). Unsold houses after completion have also maintained a decreasing trend since November last year with 19,587 units, 18,065 units in December, and 17,500 units in January this year.

By region, unsold houses in the 수도권 (Capital Region) were 3,783 units, a 10% decrease compared to the previous month (4,202 units). In 지방 (provinces), there were 32,846 units, a 3.7% decrease compared to the previous month (34,102 units). In particular, unsold houses in 지방 have decreased for eight consecutive months since August 2019 (52,054 units).

Seoul (78 units), Sejong (0 units), and Gwangju (31 units) were relatively favorable, but 경남 (Gyeongnam) (10,590 units), 경북 (Gyeongbuk) (5,077 units), and 경기 (Gyeonggi) (3,224 units) had many unsold houses.

By size, unsold medium to large houses over 85㎡ were recorded at 2,925 units, a 1.3% decrease compared to the previous month (2,965 units). Houses 85㎡ or smaller decreased by 4.6% compared to the previous month (35,339 units), totaling 33,704 units.