Number of unsold houses declines in April

SEOUL, June 5 (Yonhap) -- The number of unsold houses in South Korea declined in
April after hitting a record high the previous month as efforts to ease the
current slump in the construction sector began to take effect, a government
report showed Friday.
According to the report by the Ministry of Land, Transport and Maritime Affairs,
the number of newly-built unsold houses came to 163,856 units at the end of
April, down 1,785 from a month earlier.
In March, the figure stood at 165,641 units, the highest since 1993, when related
data started to be compiled, amid a protracted economic slump.
The decline comes mainly due to the government purchase of unsold houses as part
of industry-boosting efforts and measures implemented to reduce related taxes
aimed at bolstering transactions, the ministry said.
kokobj@yna.co.kr
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