Two out of Three Residents in the Seoul Metropolitan Area Say "Jeonse Crisis is Severe"

[Asia Economy Reporter Kang Nahum] A survey revealed that two out of three residents in the Seoul metropolitan area perceive the Jeonse housing shortage as a serious issue.

According to a survey conducted by Realmeter on behalf of Jeong Il-young, a member of the Democratic Party of Korea, from the 17th to 18th among 1,000 residents aged 18 and older living in Seoul, Gyeonggi, and Incheon, 66.0% of respondents answered that the Jeonse shortage is "serious." Meanwhile, 25.7% said it is "not serious," and 8.3% responded "don't know."

When asked about the cause of the Jeonse shortage, 57.6% of respondents answered "lack of new Jeonse supply due to system changes."

Regarding solutions to alleviate the Jeonse shortage, 33.1% of respondents chose "activation of private supply such as urban redevelopment," and 24.9% selected "rapid supply of public rental housing." For measures to stabilize housing for actual users, 27.4% answered "easing loan regulations such as loan-to-value ratio (LTV)," and 24.7% said "strengthening regulations on multiple homeowners."

As for measures to stabilize housing sales prices, 25.2% of respondents answered "mass supply of public rental housing in the metropolitan area." 22.4% chose "activation of private housing supply." 18.9% said that the establishment of a wide-area transportation network such as the Greater Train Express (GTX) is necessary.

Regarding measures to overcome low birth rates, 30.3% selected "quality jobs," 21.3% chose "housing stability for newlyweds," and 19.3% picked "support for establishing a culture of joint parenting by couples."

Rep. Jeong stated, "This result shows the need to promptly prepare comprehensive measures through policy effect analysis of new systems such as the Jeonse rent cap and the right to request contract renewal," adding, "To stabilize the real estate market, it is necessary to expand housing supply and swiftly promote the GTX."

This survey contacted 32,803 adults aged 18 and older nationwide, with a final 1,000 respondents completing the survey, recording a response rate of 3.1%. The sampling error is ±3.1 percentage points at a 95% confidence level.