Half of Prospective Newlyweds Prefer 'Jeonse'... "We Lack Funds"

9 out of 10 People Want Jeonse Under 400 Million Won

[Asia Economy Reporter Onyu Lim] Among 10 prospective newlyweds, 5 prefer renting with a key money deposit (jeonse) over purchasing due to lack of funds and subscription plans.

According to a survey conducted by Dabang on 2,743 prospective newlyweds on the 27th, more than half of the respondents, 52.9% (1,450 people), answered that they want 'jeonse' as the transaction method for their newlywed home.

Among those planning jeonse, 88.8% (1,285 people) preferred a newlywed home priced under 400 million KRW. Specifically, 47.3% (684 people) chose the 200 million to under 400 million KRW range, and 41.5% (601 people) chose under 200 million KRW.

The main reason for planning jeonse was lack of funds at 63.6% (1,130 people). Plans for subscription such as special supply for newlyweds followed at 21.9% (390 people). Expectations of a housing price decline were at 7.5% (134 people).

Prospective newlyweds who want to purchase accounted for 34.9% (956 people). The most preferred type of purchased home was apartments at 85.1% (810 people), followed by ▲villas 9.6% (91 people) ▲officetels 2.7% (26 people) ▲country houses 2.2% (21 people).

The preferred regions for purchasing homes were the metropolitan area including Gyeonggi and Incheon at 44.0% (421 people), followed by ▲Seoul 22.4% (214 people) ▲southeastern region including Busan and Ulsan 11.5% (110 people) ▲Daegu and Gyeongbuk region 8.3% (79 people) ▲Chungcheong region including Daejeon and Sejong 7.2% (69 people).

Regarding the price of homes to be purchased, 41.4% (395 people) preferred the 300 million to under 500 million KRW range, followed by ▲under 300 million KRW 26.3% (251 people) ▲500 million to under 700 million KRW 19.4% (185 people) ▲700 million to under 900 million KRW 6.6% (63 people) ▲900 million KRW and above 6.2% (59 people).

For financing home purchases, bank loans ranked first at 61.2% (584 people). Expected loan amounts were ▲100 million to under 200 million KRW 41.2% (394 people) ▲200 million to under 300 million KRW 24.3% (232 people) ▲under 100 million KRW 17.1% (163 people) ▲300 million KRW and above 11.5% (110 people).

Among prospective newlyweds, 54.0% (1,476 people) cited expanding housing supply as the most necessary measure for housing stability. Next were ▲strengthening taxes on multi-homeowners 28.1% (768 people) ▲tightening housing loan regulations 10.9% (299 people) ▲raising the base interest rate 3.9% (108 people). Additionally, 42.1% (1,153 people) considered commuting time as a minimum residential requirement for a stable life, followed by ▲two-room or larger living space 26.7% (732 people) ▲educational facilities 16.3% (445 people) ▲safety facilities 7.7% (212 people).