Seoul housing costs rise as apartment jeonse tops 700 million won

  • Gangnam’s July one-room rent reached 970,000 won, while Seoul’s average apartment jeonse deposit rose to 711.78 million won.
  • Seoul’s average apartment monthly rent hit a record 1.62 million won in July, and 21 metropolitan districts recorded 84-square-meter sales above 2 billion won this year.
  • Tightening listings and declining new-apartment supply fueled no-look contracts; a separate budget plan would pay eligible newly married couples 1 million won.

Seoul housing costs continued to rise across rental segments, with Gangnam’s average July one-room rent reaching 970,000 won, the highest among the capital’s 25 districts for a 14th consecutive month, while Seoul’s average apartment jeonse deposit reached an all-time high of 711.78 million won last month. Dabang’s one-room analysis covered low-rise multi-unit housing of 33 square meters or less with a 10 million won deposit; its Seoul average rent was 690,000 won and average jeonse deposit was 219.36 million won, while Seocho led jeonse deposits at 272.35 million won. Separately, Seoul’s average apartment monthly rent reached a record 1.62 million won in July, and limited listings, declining new-apartment completions and owner-occupancy policies contributed to rushed no-look contracts. Record sales above 2 billion won for 84-square-meter apartments expanded to 21 metropolitan districts, while next year’s approved government budget separately includes a one-time 1 million won marriage subsidy pending National Assembly review.

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