Jeonse Shortage in Seoul... Surge in Tenant’s Registration Order Applications Due to Unreturned Deposits [Real Estate AtoZ]

Tenant’s Registration Order Applications Rise for Four Consecutive Months
Modest Increase in Multiplex Housing Deposits Drives Trend
Jeonse Loan Limit Reduction in Seoul Metropolitan Area Also a Factor

Apartment buildings in downtown Seoul. Photo by Yonhap News

The number of applications for tenant registration orders in Seoul has been gradually increasing. This system allows tenants who are unable to recover their deposit after the end of a monthly or yearly rental contract to secure their right of residence and preferential repayment through the court, enabling them to move freely. Analysts attribute this trend to a growing number of landlords, particularly in the multiplex housing market, who are unable to return the jeonse deposit to tenants. The reduction in the jeonse loan limit in the Seoul metropolitan area has also played a role.

According to the Court Registration Information Plaza on January 21, the number of applications for tenant registration orders for collective buildings in Seoul (including officetels, apartments, multiplex houses, and multi-family houses) reached 439 in December 2025. This represents a 9.2% increase compared to 402 cases in the previous month. The number of applications has risen for four consecutive months since reaching a yearly low of 332 cases in August last year. The cumulative increase over this period is 32.2%.

The surge in tenant registration order applications is largely attributed to the multiplex housing sector. In the case of apartments in Seoul, demand has outpaced supply, leading to a sharp rise in deposits, and there is even talk of a jeonse shortage. In contrast, the increase in deposits for multiplex houses has been relatively modest. According to data from the Korea Real Estate Board, the jeonse price index for Seoul apartments rose by 3.77% in 2023 and 5.23% in 2024, whereas for multiplex houses, the increase was only 2.05% and 0.63% during the same period. This indicates that it is much more difficult to find new tenants for multiplex houses.

Yoon Sumin, Real Estate Specialist at NH Nonghyup Bank, explained, "The atmosphere in multiplex houses such as villas is different from that of apartments," adding, "The rise in jeonse deposits has been limited, and it is difficult to say that prices have recovered to the levels seen before the reverse-jeonse period."

Additionally, the continued impact of the June 27, 2025 regulation, which reduced the jeonse loan limit in the Seoul metropolitan area, has also been felt. As jeonse loans have decreased, there are fewer tenants able to pay the amount of deposit required by landlords.

However, experts predict that applications for tenant registration orders will gradually decrease as the jeonse price gap between apartments and multiplex houses narrows. Yoon added, "The market for villas is gradually recovering, and as the gap closes, the number of tenant registration order applications is expected to decline over time."