66% Intracity Movement, 34% Intercity Movement Recorded
Gyeonggi, Sejong, and Chungnam Show Net Inflow
[Asia Economy Reporter Jang Sehee] Domestic population movement has decreased for seven consecutive months as the supply of apartments scheduled for occupancy in June and July dropped by 39% compared to the same period last year.
According to the July domestic population movement statistics from Statistics Korea on the 25th, the number of movers last month was 563,000, a 3.4% decrease from one year ago. The number of movers has been declining for half a year since January this year.
Movements within provinces decreased by 5.7%, while movements between provinces increased by 1.3%.
An official from Statistics Korea explained, "The significant factor was the 39% decrease in apartments scheduled for occupancy in June and July compared to a year ago," adding, "As housing market indicators slowed down, the number of movers decreased."
The population movement rate, which refers to the number of movers per 100 people, was 12.9%, down 0.5 percentage points from a year ago.
Looking at the movement situation by province, 10 provinces including Seoul (-8,429), Busan (-2,096), and Daegu (-1,749) experienced net population outflow.
Seoul has seen net population outflow for 17 consecutive months since March last year. Statistics Korea explained that in Seoul, population inflow occurs only when a large volume of apartment occupancy is released.
Seven provinces including Gyeonggi (10,591), Sejong (1,137), and Chungnam (1,034) experienced net population inflow.
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