Seoul apartment rental prices rose for 77 weeks in a row. It was found that the rise of jeonse prices in regions such as Busan and Ulsan, including Sejong, which ranked first in the country for 28 weeks in a row, was steep.
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The Korea Real Estate Agency announced on the 17th that the second week of this month (as of the 14th), the rent for apartments in Seoul rose 0.14% from the previous week. The Real Estate Agency explained, “Amid the continuing supply-demand imbalance due to the reinforcement of the real-life requirements for landlords and the right to apply for contract renewal, the rise of mid- to low-priced complexes in the Gangbuk area of Seoul expanded.
Of the 25 autonomous districts in Seoul, Songpa-gu rose the most at 0.22%. Then, Gangdong-gu (0.21%), Seocho and Mapo-gu (0.20%), and Yongsan and Dongjak-gu (0.19%), followed by a higher rate of increase.
Sejong ran the nation’s first place in the nationwide rate of increase for 28 consecutive weeks. This week’s Sejong apartment jeonse price rose 1.88%, up from last week (1.57%). As of this year, the total price of Sejong apartments has risen 56.01%. The rate of increase in Ulsan (0.80%) and Busan (0.52%) was also high. In Busan, the rental price increased a lot, mainly in Gijang-gun (1.13%), Gangseo-gu (1.06%), Nam-gu (0.71%), and in Ulsan, Nam-gu (1.00%), Dong-gu (0.84%), and Buk-gu (0.73%).
Reporter Shin Yeon-soo [email protected]
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