97,679 Housing Transactions in January... 35% Decrease from Previous Month
Both 수도권 and Provinces Decline... Apartment Transactions Slow Down
Real estate listings are posted at a real estate agency in Jung-gu, Seoul. Photo by Mun Ho-nam munonam@
[Asia Economy Reporter Moon Jiwon] The Ministry of Land, Infrastructure and Transport announced on the 21st that the number of housing sales transactions in January this year was recorded at 90,679, down 35.4% from the previous month (140,281) and down 10.5% from the same month last year (101,334). Compared to the 5-year average (68,576), it increased by 32.2%.
The transaction volume in January was 59,000 in 2017, 70,000 in 2018, and 50,000 in 2019, then more than doubled to 101,000 last year compared to the previous year, before slightly decreasing again to the 90,000 range this year.
By region, the metropolitan area recorded 47,132 transactions, down 25.4% from the previous month and down 14.9% compared to the same month last year.
The provinces recorded 43,547 transactions, down 43.5% from the previous month and down 5.2% compared to the same month last year.
Compared to the 5-year average January transaction volume, the metropolitan area increased by 37.9%, and the provinces increased by 26.6%.
The number of apartment sales transactions was 64,371, down 39.3% from the previous month and down 15.3% from the same month last year. Non-apartment types recorded 26,308 transactions, down 23.2% from the previous month and up 3.8% compared to the same month last year.
Based on confirmed date data, the total number of jeonse and monthly rent transactions last month was 179,537, down 2.0% from 183,230 in the previous month. Compared to the same month last year (173,579), it increased by 3.4%, and compared to the 5-year average (147,147), it increased by 22.0%.
The proportion of monthly rent transactions among jeonse and monthly rent transactions was 41.0%, up 2.7 percentage points from 38.3% in the same month last year. The January monthly rent proportion was 44.3% in 2017, 42.5% in 2018, 39.3% in 2019, and 38.3% in 2020, before rebounding to 41.0% this year.
The metropolitan area recorded 116,684 transactions, down 3.8% from the previous month and up 2.4% compared to the same month last year, while the provinces (62,853 transactions) increased by 1.4% from the previous month and 5.4% compared to the same month last year.
Apartments recorded 84,902 transactions, down 4.0% from the previous month and down 0.9% compared to the same month last year, while non-apartment types (94,635 transactions) decreased by 0.2% from the previous month and increased by 7.6% compared to the same month last year.
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