June Seoul Apartment Sales Surge by 49.8%... Slight Decrease in Unsold Units

[Financial News] Last month's housing sales volume increased by 17.8% compared to the previous month. In particular, Seoul surged by 49.8% compared to the previous month.
On the 31st, according to the June housing statistics released by the Ministry of Land, Infrastructure and Transport, June housing sales transactions were 73,838, an increase of 17.8% compared to the previous month (62,703). Metropolitan area sales transactions were 42,967, a 32.8% increase compared to the previous month, while non-metropolitan areas recorded 30,871, a 1.7% increase compared to the previous month.
In particular, the transaction volume in Seoul increased noticeably. June Seoul apartment sales were 10,814, a 49.8% increase compared to the previous month. Seoul housing sales transactions by region were 7,935 in Gangbuk, a 50.2% increase, and 7,507 in Gangnam, a 34.5% increase.
Jeonse and monthly rent transactions were 242,305, a 4.1% decrease compared to the previous month. The metropolitan area recorded 163,503, a 3.9% decrease compared to the previous month, while non-metropolitan areas recorded 78,802, a 4.4% decrease.
All three major indicators of housing supply, permits, starts, and completions, increased compared to the previous month.
June housing permits were 28,018 units, a 37.2% increase compared to the previous month. However, cumulative permits for June were 138,456 units, a 7.6% decrease compared to the same period last year. By region, the metropolitan area recorded 13,792 units, a 59.8% increase compared to the previous month, while non-metropolitan areas recorded 14,226 units, a 20.6% increase.
Housing starts were 28,871 units, an 89.8% increase compared to the previous month. In particular, the metropolitan area recorded 20,416 units, a 123.0% significant increase compared to the previous month, while non-metropolitan areas recorded 8,455 units, a 39.7% increase.
Last month's completions were 40,115 units, a 52.2% increase compared to the previous month. The metropolitan area recorded 22,121 units, a 37.8% increase compared to the previous month, while non-metropolitan areas recorded 17,994 units, a 74.4% increase.
Nationwide pre-sales were 14,983 units, a 32.6% increase compared to the previous month. Metropolitan area pre-sales were 8,832 units, a 30.8% decrease compared to the same month last year, but non-metropolitan areas recorded 6,151 units, a 252.9% increase compared to the previous month.
At the end of June, unsold housing units were 63,734, a 4.4% decrease compared to the previous month. Among these, unsold units after completion, referred to as malignant unsold units, were 26,716, a 1.1% decrease compared to the previous month. In non-metropolitan areas, malignant unsold units decreased by only 77 units.

act@fnnews.com Choi Ah-yeong Reporter