January housing starts down 3.1% year-on-year for 19 consecutive months

According to the Ministry of Land, Infrastructure, Transport and Tourism, the number of newly constructed houses nationwide in January was 58,448, a decrease of 3.1% from the same month last year.

Due to the influence of the new coronavirus, the number of “rental houses”, which indicate rental housing such as apartments, continues to decrease, and the number of housing starts has fallen below the previous year for the 19th consecutive month.