"Top 0.1% Average 800 Million KRW"… Annual Rental Income Exceeds 22 Trillion KRW

The Top 0.1% Threshold is an Average of 442 Million KRW
"Government Real Estate Policy Guarantees More Unearned Income"

Real estate rental income exceeded 22 trillion won in 2022. In particular, the top 0.1% of rental income earners had an average income of over 800 million won per person.

According to the "Real Estate Rental Income Percentile Data" submitted by the National Tax Service to the office of Yang Kyung-sook, a member of the Democratic Party on the National Assembly's Planning and Finance Committee, among comprehensive income filers in 2022, 1,246,714 people reported real estate rental income.

The total rental income they received was 22.039 trillion won. This amount represents a 2.5% (541.8 billion won) increase compared to the previous year (21.4971 trillion won).

However, the average rental income per person was 17.7 million won, a 0.6% (100,000 won) decrease from 2021 (17.8 million won). Although total rental income increased, the number of rental income earners also rose, resulting in a decrease in the average amount per person. The number of real estate rental income earners increased by 3.0% (36,853 people) from 1,209,861 in 2021 to 1,246,714 in 2022, growing at a higher rate than income.

The average rental income per person for the top 0.1% in 2022 was 814 million won. The threshold for the top 0.1% was 442 million won, meaning that earning around 440 million won in rental income places one in the top 0.1% of rental income earners.

The average rental income for the top 1% was 271 million won. Their total rental income amounted to 3.3795 trillion won, accounting for 15.3% of the total rental income. The average rental income for the top 10% was 38 million won, with a total of 10.2448 trillion won, representing 46.5% of the total income.

Representative Yang expressed concern, stating, “As real estate rental income and the number of rental income filers increase every year, the various real estate tax reduction policies promoted by the Yoon Suk-yeol administration may guarantee more unearned income to homeowners and multiple property owners in the future.”