,
, ‘In April, the proportion of rising transactions in the Seoul apartment lease market increased by 4 percentage points compared to a year ago.’,
,
, ‘According to a report by Zigbang on the analysis of apartment lease transactions in Seoul in April publicized on the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system, it was revealed that 48% of transactions saw an increase in price compared to the previous year, Zigbang stated on the 20th.’,
,
, ‘This is a 4-percentage-point increase from the rising transaction share in Seoul in April last year (44%) when lease prices were on a decline.’,
,
, ‘Conversely, the share of declining transactions decreased by 2 percentage points to 41% from a year ago (46%).’,
,
, ‘By borough, Jung District had the highest proportion of rising transactions at 63%.’,
,
, ‘With good residential conditions and steady demand, it appears that many new lease contracts are being signed, leading to an increase in lease prices.’,
,
, ‘Eunpyeong-gu had 61% of lease transactions as rising transactions, fueled by demand for new apartments within 5 years of occupancy.’,
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, ‘Jongno-gu (56%), Yongsan-gu (54%), Geumcheon-gu (52%), Dongdaemun-gu (52%), Gangbuk-gu (51%), Seongbuk-gu (51%), Gangseo-gu (51%), Seongdong-gu (51%), Seocho-gu (51%), Mapo-gu (50%) and others also saw over half of transactions being made at higher prices than the previous year.’,
,
, ‘Zigbang stated, “Analysis shows that demand is concentrated on districts with good urban accessibility and relatively affordable lease prices,” and they noted, “Policy funds such as the special loans for newborns are also believed to have influenced lease demand.”‘,
,
, ‘On the other hand, Gangdong-gu had a 52% share of declining transactions.’,
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, ‘Zigbang forecasted that the upward trend in Seoul’s lease market is likely to continue due to factors such as a shortage of lease properties.’,
,
, ‘The supply of new apartments this year is around 24,139 units, similar to the average for 2021-2023 (26,124 units), but Zigbang diagnosed that it will be difficult to resolve the supply-demand imbalance as around 70% of the supply is concentrated in Gangdong-gu.’,
,
, ‘Kim Eun-sun, lead of Zigbang’s Big Data Lab, said, “As the expiration of the rental contract renewal request rights (2+2 years) set in 2020 approaches in August, expired listings may enter the market, reflecting previous prices and potentially leading to an increase in lease prices.”‘,
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