Jeonse prices (large lump-sum rental deposits) are rising faster than sales prices across South Korea’s Seoul metropolitan area, increasing housing costs for end-users as rental supply contracts. Seoul apartment jeonse prices rose 0.17% in the week ending September 14, with Nowon-gu leading the capital’s 25 districts at 0.45%. Record-high transactions were reported in Nowon-gu and Jungnang-gu. From January through August, metropolitan-area jeonse prices rose 4.30%, compared with a 4.06% increase in sales prices, marking the fifth straight month in which rental-deposit growth exceeded sales-price gains. Seoul itself still recorded faster sales-price growth than jeonse growth, at 6.68% versus 5.91%, while Gyeonggi Province and Incheon saw jeonse gains exceed sales increases. Falling move-in supply, fewer rental listings and demand from households unable to buy are intensifying competition. Relocation linked to reconstruction and redevelopment projects could add pressure, with about 30,000 Seoul households facing relocation by the first half of next year. Experts warn that the imbalance may spread from the rental market to sales and neighboring areas such as Gyeonggi Province.