January Nationwide 'Permits, Groundbreaking, Sales, and Completion' Performance All Increase Year-on-Year

[Asia Economy Reporter Moon Jiwon] In January, nationwide housing permits, construction starts, sales, and completions all increased compared to the same month last year.

According to the Ministry of Land, Infrastructure and Transport's nationwide housing construction performance on the 28th, last month's housing permit performance nationwide was 26,183 units, a 9.2% increase compared to the same month last year (23,978 units).

Permits were concentrated more in the provinces than in the metropolitan area. Seoul recorded 2,695 units, a 21.1% increase compared to the same month last year, while the metropolitan area had 12,163 units, a 0.4% decrease. In contrast, the provinces had 14,020 units, a 19.2% increase compared to last year.

Nationwide apartment permits were 19,541 units, a 12.8% increase compared to last year, while non-apartment housing permits were 6,642 units, a 0.2% decrease.

Housing construction starts in January nationwide were 27,982 units, a 69.5% increase compared to the same month last year (16,512 units).

The metropolitan area recorded 17,256 units, a remarkable 100.3% increase compared to last year, and the provinces had 10,726 units, a 35.8% increase.

Nationwide sales performance was 13,454 units, an increase of 13,414 units compared to the same month last year (40 units), with both the metropolitan area and provinces showing large increases.

General sales were 11,556 units, an increase of 11,516 units compared to last year, and rental housing (630 units) and cooperative member sales (1,268 units) also showed net increases.

Housing completions nationwide totaled 33,512 units, a 6.2% increase compared to the same month last year (31,544 units).

The metropolitan area (22,829 units) increased by 35.7% compared to last year, while the provinces (10,683 units) decreased by 27.4%.

Nationwide apartment completions were 24,363 units, a 5.8% increase compared to last year, and non-apartment housing completions were 9,149 units, a 7.5% increase.