Seoul apartment sales transactions in July fall 15% as starts jump ninefold

[Financial News] Seoul apartment sales transactions fell 15% from the previous month in July, while housing permits and starts rose sharply from a year earlier. However, cumulative completions so far this year dropped by more than 40%.
According to the "July 2026 Housing Statistics" released by the Ministry of Land, Infrastructure and Transport on the 31st, Seoul apartment sales transactions last month totaled 6,564, down 15.2% from 7,742 in the previous month. Total housing sales in the Capital Region also fell 11.1% month on month to 34,749.
Nationwide housing sales transactions came to 63,185, down 8.2% from the previous month. Transaction volume in Non-metropolitan areas fell 4.4% to 28,436, a smaller decline than in the Capital Region.
Jeonse and monthly rent transactions also declined. Nationwide jeonse and monthly rent transactions in July totaled 210,985, down 3.5% from the previous month. The Capital Region recorded 143,501 transactions, down 2.3%, while Non-metropolitan areas saw 67,484, down 6.0%.
While the transaction market weakened, leading indicators for housing supply in Seoul improved. Housing permits in Seoul in July reached 7,979 units, up 95.1% from 4,089 a year earlier. Cumulative permits for January through July also rose 6.1% year on year to 28,634 units.
The increase in housing starts in Seoul was even steeper. July starts surged 894.7% to 6,386 units from 642 in the same month last year. Cumulative starts also rose 44.4% year on year to 19,507 units.
In the Capital Region, permits in July rose 27.9% year on year to 12,640 units, while starts increased 18.5% to 12,690 units. However, cumulative permits for January through July fell 3.9% to 80,586 units, and cumulative starts rose only 2.0% to 77,894 units.
Housing supply results varied by region and time frame. Seoul's July supply volume rose 104.0% year on year to 716 units, and cumulative supply increased 109.7% to 14,489 units. In the Capital Region, July supply fell 12.8% to 10,405 units, but cumulative supply reached 73,991 units, up 39.8%.
In Non-metropolitan areas, July permits jumped 109.7% year on year to 13,077 units. By contrast, starts fell 28.1% to 7,688 units and supply dropped 22.1% to 8,428 units. On a cumulative basis, permits fell 12.7%, while starts and supply rose 25.5% and 43.0%, respectively.
Seoul completions in July rose 8.9% year on year to 5,756 units, but cumulative completions for this year fell 43.3% to 20,916 units.
Completions in the Capital Region also rose 20.9% in July to 18,279 units, but cumulative completions fell 38.7% to 71,204 units. In Non-metropolitan areas, July completions increased 29.2% to 13,499 units, while cumulative volume dropped 44.1% to 64,309 units.
Unsold homes rose again. As of the end of July, nationwide unsold housing units stood at 68,217, up 1.1% from the previous month. By region, the Capital Region had 19,459 units, while Non-metropolitan areas had 48,758.
Completed unsold homes, often referred to as problematic unsold units, fell 2.1% from a month earlier to 29,152. Of these, 4,444 units remained in the Capital Region and 24,708 in Non-metropolitan areas.

[email protected] Choi Ga-young Reporter