Regional Apartment Sales Hit Five-Year High as Subscription Demand Revives

Regional apartment sales in South Korea reached 80,103 transactions in the first quarter, rising 23.8% from a year earlier. The increase signals a warmer mood in local property markets that had been frozen by a prolonged backlog of unsold homes. Subscription markets are also showing signs of recovery, with Daegu, Changwon and other areas drawing stronger demand and cases around the 100-to-1 competition level being mentioned more often. The first-quarter transaction volume was the highest in five years. While regional apartment markets had remained sluggish due to unsold inventory, both stronger sales and recovering subscription interest are now changing sentiment. Future momentum will depend on whether transactions and demand continue. Source: mk.co.kr