16,289 Unsold Houses in June... 4.0% Increase from Previous Month

[Asia Economy Reporter Kangwook Cho] The Ministry of Land, Infrastructure and Transport announced on the 5th that as of the end of June, the total number of unsold houses nationwide was 16,289 units, an increase of 4.0% compared to 15,660 units in the previous month.

The volume of unsold houses had rapidly decreased in recent months due to a surge in housing demand, dropping to 15,270 units in March this year, but has since fluctuated.

The volume of unsold houses showed a declining trend from 33,894 units in May last year, to 26,703 units in October of the same year due to the surge in housing demand, and further down to 15,270 units in March this year.

In April, the number increased by 3.5% from the previous month to 15,798 units, then decreased again in May (15,660 units), but turned to an increase this month, showing fluctuations.

Unsold houses in the metropolitan area were 1,666 units, up 27.9% from 1,303 units in the previous month, while in the provinces, it was 14,623 units, an increase of 1.9% compared to 14,357 units in the previous month.

By size, unsold medium to large houses over 85㎡ were 523 units, down 8.7% from 573 units in the previous month, while those 85㎡ or less increased by 4.5% to 15,766 units from 15,087 units in the previous month.

The number of 'post-completion unsold houses,' which remain vacant even after the building is completed, was 9,008 units nationwide, a decrease of 2.5% compared to 9,235 units in the previous month.