A recent report by the Construction Economy Research Institute of Korea reveals a deepening vacant housing crisis in South Korea. As of the end of 2023, the number of vacant homes nationwide reached 1.534 million, accounting for 7.9% of all residences. This figure marks a significant increase from 2015, highlighting a persistent upward trend in vacant properties.

Key Findings:

National Vacancy Status:1.534 million vacant homes as of late 2023, a 5.7% increase from the previous year and a 43.6% rise since 2015.
The proportion of vacant homes to total housing stands at 7.9%, steadily climbing from 6.5% in 2015.
Regional Vacancy Distribution:Gyeonggi Province accounts for the largest share of vacant homes at 18.6%.
Within Gyeonggi, Pyeongtaek City exhibits the highest vacancy rate at 11.2%.
The number of vacant homes per capita nationwide is 29.9 units per 1,000 people, up from 20.7 units in 2015.
Challenges and Solutions:Long-term abandoned vacant homes contribute to the "vacant home effect" on surrounding properties, leading to urban decay and safety concerns.
Local governments should consider incorporating vacant homes into public assets, repurposing them as low-income and youth rental housing or converting them for commercial use.
This growing issue poses substantial challenges to urban planning and social stability, necessitating proactive measures from local authorities.

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