Seoul apartment jeonse (lump-sum deposit leasing) prices have risen 8% so far this year through the third week of September, intensifying pressure on long-term public rental tenants whose contracts begin expiring in 2027. The Korea Real Estate Board said on the 27th that the average Seoul apartment jeonse price reached 636.63 million won, above the previous peak of 634.24 million won recorded in January 2022 under the Moon Jae-in administration. Available listings have fallen more than 60% in three years, and rushed no-look contracts have become common. Residents of long-term public rental units in Gangil-dong, who entered homes with deposits set at 23% of market value, want non-homeowners to receive renewal opportunities at 80% of market value and 20-year residents to be allowed to buy at appraised value. Seoul says it will proceed with move-outs when contracts mature and will make no exceptions, arguing that renewals or sales would limit opportunities for other non-homeowners waiting for public housing. A city survey found that 73.9% of 1,000 respondents supported moving out after the 20-year term.