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Population mobility hits 48-year low in April

All News 12:00 May 25, 2022

SEOUL, May 25 (Yonhap) -- The number of South Koreans who moved to different residences in the country sank to a 48-year low in April amid population aging and fewer housing transactions, data showed Wednesday.

The number of people who changed their residences came to 483,000 last month, down 18.7 percent from a year earlier, according to the data compiled by Statistics Korea.

The tally marked the lowest for any April since 1974, when it came to 480,000. It was also the first time that the number had fallen below the 500,000 level.

Population mobility thus slid for the 16th consecutive month in April.

The drop resulted mainly from the decreasing number of people in their 10s, 20s, 30s and 40s, who tend to vibrantly change their residences, amid low birthrates and rapid aging.

In addition, home transactions dipped amid a downturn in housing prices stemming from rising interest rates and tighter lending rules. In February and March alone, home transactions nose-dived nearly 49 percent on-year to 97,000.

The population mobility rate -- the percentage of those relocating per 100 people -- amounted to 11.4 percent in April, down 2.6 percentage points from a year earlier and the lowest tally since related data tracking began in 2000.

The South Korean capital of Seoul and seven other cities and provinces recorded a net population outflow, while Incheon, west of Seoul, and eight other cities and provinces posted a net inflow.

Seoul chalked up the biggest net outflow of 4,166 in April, while Gyeonggi Province, the most populous province that surrounds Seoul, registered the largest net inflow of 3,588.

The contrasting figures come as a growing number of Seoulites move to the adjacent province in search of cheaper houses.

This undated file photo shows apartment buildings in Seoul. (Yonhap)

This undated file photo shows apartment buildings in Seoul. (Yonhap)


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