[시사저널e=엄민우 기자] Last month, the rental price of apartments in Seoul was found to have recovered to the 23 million won per pyeong (approximately 3.3㎡) level. This is the first time since last February (23.294 million won) that the rental price of an apartment in Seoul exceeded 23 million won per pyeong.
According to KB Real Estate’s housing price statistics on the 10th, the average rental price per pyeong of apartments in Seoul in November was 23,085,000 won. The price is a 0.88% increase compared to the previous month in October (22.883 million won).
The rental price of apartments in Seoul, which was around 23,983,000 won per pyeong in January of this year, has continued to decline since then. The jeonse price, which fell to 22,451,000 won in July, rose again from August and re-entered the 2,300 won range last month.
By region, the rate of increase in rental prices for apartments per pyeong in Seoul in 11 districts south of the Han River averaged 0.95%, slightly higher than in the 14 districts north of the Han River (0.82%).
In the area south of the Han River, there was a noticeable increase in Gangseo (1.48%), Yeongdeungpo (1.45%), Gangdong (1.18%), and Songpa (1.13%).
In the Gangbuk region, Yongsan showed an increase rate of 2.98% compared to last month, the highest among all regions, and Seongbuk region (2.13%) also showed a high increase rate in the 2% range.
However, the Gwanak area (-0.18%) was the only area in Seoul where rental prices fell.
Apartment rental prices not only in Seoul but across the country showed an upward trend last month. In November, the national apartment rental price was 11,819,000 won per pyeong, up 0.64% from the previous month.
The metropolitan area recorded an increase rate of 0.85%, exceeding the national average. Among the metropolitan areas, the Incheon area was below the national average at 0.36%, but the rate of increase in rent prices for apartments in the Gyeonggi area recorded 0.95%, higher than in Seoul, exceeding the national average.
In the five metropolitan cities, the average increase was only 0.16%. Daejeon (1.06%) and Gwangju (0.52%) rose somewhat, while Busan (-0.07%), Daegu (-0.18%), and Ulsan (-0.20%) fell.
In the aftermath of the introduction of the three lease laws in 2020 during the Moon Jae-in administration, the number of jeonse properties plummeted and soaring jeonse prices plummeted in the first half of this year, resulting in a side effect called a ‘reverse jeonse crisis’ in which landlords were unable to return existing tenants’ jeonse deposits.
Accordingly, at the end of July, the government relaxed loan regulations only for the purpose of returning the deposit for rent to resolve reverse rents, and as a result, the liquidity of landlords improved, and it is analyzed that rent prices rebounded.
In addition, as monthly rent continues to rise, demand for existing monthly rent is shifted to jeonse, and as loans are difficult to obtain due to high interest rates, demand for sales also shifts to jeonse, which is interpreted to have given more strength to the upward trend in jeonse prices.
Meanwhile, the market expects that the rise in rental prices will continue until next year. At the ‘2024 Construction and Real Estate Economic Outlook Seminar’ early last month, the Construction Industry Research Institute predicted that nationwide housing rental prices will rise by 2.0% next year. In addition, the fact that the number of occupancies in the metropolitan area will decrease sharply starting next year is expected to have an impact on the increase in rent prices.
2023-12-10 06:07:37
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