Seoul One-Room Monthly and Jeonse Rent Both Decline... Jeonse Deposit Falls Below 200 Million Won for the First Time in 8 Months

Seoul average price compared to the monthly rent level of row houses and multi-family houses. Provided by Dabang

The jeonse deposit and monthly rent for row houses and multi-family studio apartments in Seoul both declined.

According to Dabang, a real estate information platform, the average jeonse deposit for row houses and multi-family studio apartments with an exclusive area of 33㎡ or less in Seoul's autonomous districts was 199.77 million KRW in December last year, down 2.7% (5.47 million KRW) from the previous month. The monthly rent, based on a deposit of 10 million KRW, averaged 730,000 KRW, down 4.4% (30,000 KRW) from the previous month.

The jeonse deposit fell below 200 million KRW for the first time in eight months since Dabang began compiling related statistics in May last year.

Looking at the jeonse deposits by district, Gangnam-gu was the highest at 126% compared to the Seoul average price set at 100%. It was followed by Seocho-gu (125%), Yongsan-gu (112%), Gwangjin-gu (109%), Gangdong-gu (104%), Yeongdeungpo-gu and Dongjak-gu (each 102%), and Gwanak-gu (101%).

On the other hand, the highest average monthly rent was in Jungnang-gu (127%). It was followed by Yeongdeungpo-gu (126%), Gangnam-gu (123%), Yangcheon-gu (113%), and Jung-gu (112%). Including these districts, the average monthly rent in a total of 11 autonomous districts including Seocho-gu, Gangseo-gu, Yongsan-gu, Gwanak-gu, Songpa-gu, and Seongdong-gu was higher than the Seoul average.