Number of unsold houses down for 3rd straight month in June

SEOUL, Aug. 4 (Yonhap) -- The number of unsold housing units in South Korea fell
for a third straight month in June amid growing signs that the worst of the
economic slump might be nearing an end, a government report showed Tuesday.
According to the report by the Ministry of Land, Transport and Maritime Affairs,
a total of 145,585 new housing units, mostly apartments, remained unsold at the
end of June, down 4.2 percent or 6,353 from a month earlier.
This marked three consecutive months of decline and it was also the lowest level
in 13 months since May last year when the number of unsold houses totaled 128,170
units, the ministry said.
The ministry attributed the decline to government efforts aimed at bolstering
property transactions and growing signs of an economic recovery.
In a bid to bolster the frozen real estate market, the government announced
earlier this year that it would cut capital gains taxes over the next five years
for people who buy new flats this year in all areas except in Seoul.
kokobj@yna.co.kr
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