Malicious unsold property is the highest in 3 years and 11 months...Housing transactions in Seoul snap Aug.

The number of so-called "malicious unsold" homes, which were not sold even after they were built, reached the highest level in three years and 11 months.

According to the August Housing Statistics released by the Ministry of Land, Infrastructure and Transport today (30th), the number of unsold homes after completion, called "malicious unsold," was 16,461 last month, up 2.6% from July, showing a 13th consecutive month of increase.

The number of malicious unsold homes in the Seoul metropolitan area was 2,821 households, down 2.7% from July, but in the provinces, it was 13,640 households, up 3.8%.

Meanwhile, as of the reporting date, Seoul's home sales transaction volume exceeded 10,000 for the second consecutive month to 19,922 cases in August, down 14% from 12,783 households in July, turning downward for the first time in eight months since December last year.

In particular, there were 7,669 apartment transactions among housing transactions in Seoul last month, down 20.1% from 9,518 in July.Construction, sales and completion of

housing supply indicators continued to increase, but licensing, a leading indicator, was sluggish, with the nationwide housing licensing volume reaching 28,478 in August, down 12.3% from the same period last year.

Construction began in August this year with a cumulative total of 173,24 households, up 36.6% from the same period last year, and cumulative sales from January to August were 141,553, up 49.9% from the same period last year.

In addition, completion increased 3.5% to 287,449 households during the same period.