▲Apartment sales prices fall… Rent prices in Seoul are rising Photo: Yonhap News It was found that at the beginning of the year, the volume of apartment rental transactions in the metropolitan area decreased in Seoul, while it increased in Gyeonggi and Incheon.
As a result of Real Estate R114’s analysis of the rental transaction volume of the Ministry of Land, Infrastructure and Transport’s actual transaction price system, the number of apartment rental transactions in Seoul in January was 11,699, an 11.6% decrease from the previous month (13,239).
On the other hand, Gyeonggi-do’s jeonse transaction volume in January was 17,467, a 2.4% increase from the previous month in December last year (17,057).
Incheon also recorded 3,135 lease transactions in January, a 6.7% increase from last December (2,937).
In the case of Seoul, the monthly rent transaction volume also decreased by 16.1% from 9,219 in December last year to 7,736 in January this year, while the monthly rent for apartments in Incheon increased by about 20% to 2,374 in January of this year from December of last year (1,981).
Real Estate R114 Senior Researcher Yeo Kyung-hee said, “As apartment prices have recently weakened, demand for renting a house instead of buying a house has increased, and rent prices are showing strength,” adding, “Rental demand is mainly flowing into low- and mid-priced areas rather than high-priced areas such as Seoul, where the burden of rent prices is high.” “It seems to have happened,” he analyzed.
According to a survey by the Korea Real Estate Board, the rental price of apartments in Seoul has risen for 41 consecutive weeks until last week, and has risen 0.30% in January of this year, exceeding the increase rate of Gyeonggi-do (0.20%) and Incheon (0.08%).
As of January, the average rental price for apartments in Seoul was 534.69 million won, which is more than 200 to 300 million won more expensive than Gyeonggi-do (314.11 million won) or Incheon (224.46 million won). ▲ Dunchonjugong complex in Gangdong-gu, Seoul Photo: Yonhap News
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2024-03-03 12:59:08
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