Average Monthly Rent for Seoul Studio Apartments Rises 4.6% in March... Highest in Gangnam at 900,000 Won

Average Jeonse Deposit Rises by 3.67 Million Won (1.8%)
Highest Monthly Rent in Gangnam-gu, Highest Jeonse Deposit in Seocho-gu

In March of this year, the rents for studio apartments in multi-family and row houses in Seoul showed an upward trend. Gangnam-gu was identified as the area with the highest monthly rent.

According to real estate information platform Dabang on April 24, the average monthly rent for studio apartments in multi-family and row houses in Seoul with a deposit of 10 million won and a size of 33 square meters or less was 700,000 won last month. The average jeonse deposit was 209.02 million won. Compared to the previous month, the average monthly rent increased by 30,000 won (4.6%), and the average jeonse deposit rose by 3.67 million won (1.8%).

By district, when the Seoul average rent is set at 100%, Gangnam-gu recorded the highest rate at 129%. The average monthly rent in Gangnam-gu was 900,000 won, which is 200,000 won higher than the Seoul average of 700,000 won.

This was followed by Seocho-gu, Seongdong-gu, and Yongsan-gu at 118%; Geumcheon-gu and Jungnang-gu at 111%; Mapo-gu at 105%; Eunpyeong-gu at 103%; Yeongdeungpo-gu at 102%; and Dongdaemun-gu at 101%. In total, the average monthly rent in these 10 districts was higher than the Seoul average.

For average jeonse deposits, Seocho-gu recorded 130%, maintaining the highest level for three consecutive months. The average jeonse deposit in Seocho-gu was 271.55 million won, which is 62.53 million won higher than the Seoul average of 209.02 million won.

Gangnam-gu was at 123%, Yongsan-gu at 115%, Dongjak-gu at 108%, Gwangjin-gu at 107%, Jung-gu at 103%, and Seongdong-gu and Yeongdeungpo-gu at 101%. In total, the average jeonse deposit in these eight districts was higher than the Seoul average.

Additionally, Dobong-gu saw the largest increase in average monthly rent, rising by 560,000 won (30.5%) compared to the previous month. Dongdaemun-gu experienced the largest increase in jeonse deposit, which rose by 20.788 million won (23.2%).