Canada Wood Today | The Canada Wood Group

Korea Housing Construction Update

Tai Jeong

By Tai Jeong

Technical Director, Canada Wood Korea

March 1, 2012

Korean Housing Starts Summary and Market Condition:

Korea’s housing starts in 2011 considerably increased 21.0% to 98,952 buildings from a year earlier 81,793 buildings owing to the continuous tax benefits to real estate investors and widened financial support for local builders, which are being extended by the Korean government as a way of shoring up the sluggish housing market.

Korean Wood Building Permits and Starts Summary:

The number of wood building permits and starts in 2011 also increased 4.2% and 6.3% to 11,382 buildings and 10,159 buildings respectively compared with the same period in 2010.

Source: Ministry of Land, Transportation and Maritime Affairs (as a percent compared to previous year same month and period)