Seoul Metro Jeonse Rents Rise 2.20%, Outpacing Apartment Sale Prices

Apartment jeonse prices in the Seoul metropolitan area have risen faster than sale prices so far this year. While apartment sale prices climbed 1.79%, jeonse prices increased 2.20%, highlighting a heavier burden on tenants. The original report cited regulations on multiple-home owners and a decline in newly built apartments as factors affecting the rise in jeonse prices. It also raised concerns that higher property holding taxes could be passed on to tenants. Even if policies aimed at stabilizing home prices affect the sales market, they may create different pressure in the rental market, making future jeonse price trends important to watch. Source: mk.co.kr