2025 Housing Completions Finalized at 300,000 Units, Down 12% From Provisional Figure

[Financial News] Last year's nationwide housing completion figure was finalized at 300,000 units. This was 42,000 units, or 12.3%, lower than the provisional figure. While the finalized number of housing permits exceeded the provisional figure and housing starts showed little difference, the completion figure was revised downward by a relatively wide margin during the finalization process.
According to the finalized housing construction figures first released by the Ministry of Land, Infrastructure and Transport (MOLIT) on the 30th, the nationwide housing completion figure for 2025 fell by 42,000 units, from the provisional 342,000 units to 300,000 units.
The Capital Metropolitan Area's completion figure was finalized at 144,000 units, down 22,200 units from the provisional 166,000. In areas outside the Capital Metropolitan Area, the figure fell by 19,800 units, from 177,000 provisionally to 157,000 units.
The finalized housing permit figure increased from the provisional figure. Nationwide permits were finalized at 388,000 units, 8,500 more than the provisional 380,000. The figures were finalized at 229,000 units in the Capital Metropolitan Area and 160,000 units outside the area.
Housing starts totaled 272,000 units nationwide, including 167,000 units in the Capital Metropolitan Area and 105,000 units elsewhere. The differences between the provisional and finalized figures were less than 1,000 units nationwide and in both the Capital Metropolitan Area and other regions.
MOLIT attributed the larger adjustment in completion figures, compared with permits and starts, to the nature of the completion-counting process. Completion figures can vary as projects go through temporary-use approval and final approval. MOLIT also explained that some units had been counted twice when units granted temporary approval were incorporated into completion figures, partly because of changes in the officials responsible for the process.
Jang Woo-cheol, MOLIT's Director General for Housing Policy, said, "Completion figures showed a somewhat larger discrepancy because there are factors that can increase or decrease the total. In some years, these factors offset one another to a certain extent, while in other years, the factors driving a decrease have a greater impact."
Until now, housing construction figures had been released provisionally at the end of each month for the previous month's performance. As a result, subsequent entries by local government officials, changes in the number of housing units, and canceled approvals made after the statistics were released were not reflected in the previously published figures.
To improve the accuracy and reliability of the statistics, MOLIT changed the system after receiving approval from the Ministry of Data and Statistics in September 2025. Under the new system, finalized figures are released in September of the following year. The previous year's performance is finalized after delayed entries and changes or corrections are reflected in the provisional figures.
Director General Jang said, "These issues have been resolved in the statistics released from October 2025 onward," adding, "Their accuracy and reliability have improved, so you can use them with confidence."

[email protected] Choi Ga-young Reporter