In October, Nationwide Housing 'Permits and Construction Starts' Increase While 'Sales and Move-ins' Decrease

In October this year, nationwide housing permits and construction starts increased compared to the same period last year, while sales and move-in (completion) performance decreased.

According to housing statistics announced by the Ministry of Land, Infrastructure and Transport on the 3rd, the cumulative housing permit performance nationwide in October was 405,704 units, a 24.4% increase compared to the same period last year (326,237 units).

In the metropolitan area, it increased by 18.8% to 203,823 units, and in the provinces, it increased by 30.6% to 201,881 units. By type, nationwide apartments increased by 28.7% to 306,543 units, and non-apartment housing increased by 12.6% to 99,161 units.

Construction starts also increased. The cumulative housing construction start performance in October was 451,134 units nationwide, a 17.8% increase compared to the same period last year (382,888 units).

Both the metropolitan area (226,220 units) and the provinces (224,914 units) increased by 13.9% and 22.1%, respectively. Nationwide, apartments increased by 15.5% to 344,048 units, and non-apartment housing (107,086 units) increased by 25.9%.

On the other hand, sales and move-in performance showed a slowdown. The sales performance of multi-family housing was recorded at 254,779 units nationwide, a 2.2% decrease compared to the same period last year (260,592 units). While the metropolitan area decreased by 14.2% to 116,301 units, the provinces increased by 10.8% to 138,478 units.

General sales (191,696 units) slightly increased by 5.3%, and rental housing surged by 39.3% to 33,696 units compared to the same period last year. Cooperative member sales sharply decreased by 45.9% to 29,387 units.

The cumulative housing move-in performance nationwide was 323,229 units, a 17.1% decrease. Both the metropolitan area (190,841 units) and the provinces (132,388 units) decreased by 7.7% and 27.8%, respectively. Nationwide apartment move-ins decreased by 21.7% to 243,629 units, while non-apartment housing increased slightly by 0.6% to 79,600 units.