[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport announced on the 3rd that as of the end of October, the total number of unsold houses nationwide was 26,703, a 5.7% (1,606 units) decrease compared to the previous month (28,309 units).
The number of unsold houses nationwide has been continuously decreasing from 56,098 units in October last year to 39,456 units in February this year, 29,262 units in June, and 26,703 units in October.
In the metropolitan area, there were 3,607 units, down 5.2% (199 units) from 3,806 units the previous month, and in the provinces, there were 23,096 units, down 5.7% (1,407 units) from 24,503 units the previous month. Both the metropolitan area and provinces saw the number of unsold houses reduced to less than half compared to the same month last year.
In the metropolitan area, Seoul had 52 units, Incheon 822 units, and Gyeonggi-do 2,733 units.
In the provinces, Gyeongnam had the highest number of unsold houses at 7,042 units, followed by Chungnam (3,235 units), Gyeongbuk (2,922 units), Gangwon (2,884 units), Busan (1,262 units), Jeju (1,233 units), and Daegu (1,143 units).
Sejong has had no unsold houses since December 2016.
The number of unsold houses after completion was 16,084 units, a 4.5% (754 units) decrease compared to 16,838 units the previous month.
It has been decreasing from 19,439 units in October last year to 17,354 units in February this year, 18,718 units in June, and 16,084 units in October.
By size, unsold medium to large houses over 85㎡ were 1,386 units, down 17.1% (285 units) from 1,671 units the previous month, and those 85㎡ or less were 25,317 units, down 5.0% (1,321 units) from 26,638 units the previous month.
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