Seoul Apartment Completions Down 48.7% YoY from January to July

[Economy 365]

From January to July of this year, the number of completed apartments in Seoul stood at 17,603 households, marking a 48.7% decrease compared to the same period last year.

On the other hand, apartment construction starts in Seoul, which serve a leading indicator for future supply, increased by 36.1% to 14,995 households.

In July, apartment transactions in Seoul totaled 6,564 cases, down 15.2% from the previous month and 22.6% from a year ago.

From January to July of this year, the proportion of monthly rent (wolse) transactions among all lease transactions in Seoul was 69.7% FIGURES.

Nationwide, completed unsold housing decreased to 29,152 households, but approximately 85% of them were concentrated in regional areas outside the capital region.

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