S. Korea's August domestic migration hits 53-year low amid housing slowdown

SEOUL, Sept. 23 (Xinhua) -- South Korea's August domestic migration hit a 53-year low amid a long-term population decline and a housing market slowdown, statistical ministry data showed Wednesday.

A woman enjoys the downtown scenery in Seoul, South Korea, Sept. 6, 2026. (Photo: Xinhua)

The number of those relocating to new homes shrank 4.5 percent from a year earlier to 471,000 in August, marking the lowest for August since 1973, according to the Ministry of Data and Statistics.

The population mobility rate, or the number of movers per 100 people, sank 0.5 percentage points to 10.9 percent in August.

The sluggish migration was driven by structural demographic changes combined with a slowdown in both housing transactions and supply.

The number of housing transactions in June and July fell 4.4 percent year-on-year to 132,000, while the number of completed apartments, a key indicator of housing supply, plunged 29.1 percent to 43,000 in the two months.

Six provinces and cities recorded a net influx of residents, led by Gyeonggi province with 4,486, Incheon with 2,270 and North Chungcheong province with 562.

Ten municipalities saw a net outflow as Seoul posted the largest fall of 2,901, trailed by South Gyeongsang province with 1,230.