Unsold flats, on the rise for 9 consecutive months

In February, the number of unsold homes across the country exceeded 75,000 for the second consecutive month following the previous month. Although the increase in unsold units has slowed somewhat, the number of unsold units after completion of construction, known as ‘unsold malignant units’, has increased significantly.

According to ‘February Housing Statistics’ released by the Ministry of Land, Infrastructure and Transport on the 30th, the number of unsold flats across the country was 75,438, up 0.1% (79 households) from the previous month (75,359 of households). Unlike in the past, when the number of unsold units temporarily increased after a certain period of time, the number of unsold units has been on the rise for 9 consecutive months since May last year (27,000 households) . Although the number of unsold units in the states has decreased slightly, 83.3% of the unsold units are still concentrated in the states. In particular, Daegu still has the most unsold units in the province with 13,987 households.

The number of unsold units in the metropolitan area was 12,541, up 13.4% (1,008 units) from the previous month (12,257 units), and the number of unsold units in the states was 62,897 units, down 0.3% (205 units) from the previous month (63,102 units). However, states are still crossing the risk line of unsold units (62,000 households).

In the metropolitan area, especially in Seoul, the number of unsold homes increased by 110.7% (1103 households) to 2099 from the previous month (996 households). However, this includes February unsold stocks such as Dunchon Jugong Reconstruction (Olympic Park Foreon) in Gangdong-gu, Seoul, and Jangwizai in Seongbuk-gu, which have ‘sold out’ even their small equilibrium stocks. size recently. In Incheon (3209 → 3154 households) and Gyeonggi (8052 → 7288 households), unsold units decreased by 1.7% and 9.5%, respectively.

There is a possibility that the financial difficulties of small and medium-sized local construction companies will become more serious in the future as the unsold pre-construction pre-completions transfer to the unsold post-completions.

The government is in a position where it is not “at the level of intervention”. Even when the number of unsold units in December last year recorded 68,148 cases, an increase of more than five times compared to the previous month (17,710 households), Minister of Land, Infrastructure and Transport Won Hee-ryong, “The unsold present. units can be largely resolved with self-saving efforts such as price reductions by construction companies.” was also proposed.

The number of unsold units after completion, known as ‘unsold malignant units’, also increased significantly. The number of malignant unsold units appears to have increased as the units classified as unsold until completion of construction are not sold until the time of completion. Following the completion of construction in February, the number of unsold units was 8554, an increase of 13.4% (1008 units) compared to the previous month (7546 units).