60% → 55% drop in the first three months of new contracts
It was found that the number of tenants who renewed the contract after the end of the charter contract in the metropolitan area last month is increasing. It is analyzed that the rental price in the metropolitan area is stable, and concerns about reverse jeonse are partially resolved, and the number of tenants renewing existing contracts instead of costing money and moving to another house is increasing.
According to the result of analyzing the actual transaction price system of the Ministry of Land, Infrastructure and Transport by Real Estate R114 on the 10th, the proportion of new charter contracts in the metropolitan area (Seoul, Incheon, and Gyeonggi) in July was 54.7%. It has been steadily declining since April of this year (60.3%) when charter fraud and reverse charter issues arose. This means that the number of tenants extending existing contracts has increased.
In particular, the faster the jeonse price was recovered, the more the proportion of new contracts decreased. Compared to April, the proportion of new contracts last month decreased the most in Seoul (59.7% → 52.0%), followed by Gyeonggi (59.7% → 54.7%) and Incheon (66.1% → 64.3%). According to the Korea Real Estate Agency, the rental price of apartments in Seoul has been on the rise since the fourth week of May.
Real Estate R114 said, “In Gangdong-gu and Songpa-gu, Seoul, where the rental price has recently turned upward, the proportion of new contracts has fallen to less than half since April, but in some areas, such as the outskirts of the metropolitan area, more than 70% are new contracts.
Reporter Lee Buk-bok [email protected]
2023-08-10 18:00:00
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