Population mobility down 10 pct in Sept. to lowest level in 53 yrs
SEOUL, Oct. 28 (Yonhap) -- The number of South Koreans who moved to new residenc...
In September, the number of Koreans who moved to new residences declined by 10% compared to the previous year, reaching the lowest level in 53 years, according to data released by the Ministry of Data and Statistics. Around 444,000 people changed their residences in September, down from 494,000 a year earlier. This marked the lowest September figure since 1973, when 378,000 people moved. The population mobility rate, which represents the number of people relocating per 100 residents, fell by 1.2 percentage points to 10.6%.
The decrease in population mobility was influenced by a decline in housing transactions and the limited supply of new homes. Additionally, the country's aging population played a role in the trend. A separate report from the finance ministry revealed that the total number of houses traded in August decreased by 23.5% compared to the previous month.
While average housing prices saw a slight increase of 0.32% on a month-over-month basis, jeonse prices, which involve tenants providing landlords with a large lump-sum deposit, rose by 0.35% over the same period.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Population mobility down 10% in Sept. to lowest level in 53 years koreatimes.co.kr
