As the supply of jeonse (long-term lease) apartments in Seoul decreases and both monthly rents and purchase prices rise, housing instability among the 2030 age group is intensifying.
MBC's 'PD Notebook' will air an episode titled 'The Era of Jeonse Extinction - 2030 on the Edge' on August 25, shedding light on the realities faced by young people trying to secure homes amid declining jeonse availability, rising monthly rents, and tightening loan regulations.
In July 2026, the average jeonse price for apartments in Seoul surpassed 700 million won, while the average monthly rent reached a record high of 1.62 million won. The aftermath of jeonse fraud has heightened concerns about renting villas, and stricter regulations on jeonse loans aimed at curbing speculative investments have further narrowed housing options for young people.
According to the real estate big data platform Asil, as of April 21, 2026, the number of jeonse listings for apartments in Seoul was 15,105, the lowest level recorded in the past three years. The average monthly rent for Seoul apartments has also been steadily increasing since June of last year, reaching its highest point in July 2026.
'PD Notebook' will feature stories from young people who have directly experienced the shortage of jeonse listings.
Um Da-in, who is set to marry in December, faced a dilemma between buying and renting an apartment. While in the elevator heading to view a property, she learned that another prospective tenant had just signed a contract for the only remaining jeonse listing. Although she was aware of the scarcity of jeonse options, witnessing the opportunity slip away in front of her heightened her anxiety.
The villa market continues to feel the aftereffects of jeonse fraud.
Jung Min-chae, a groom-to-be in his 30s, fell victim to jeonse fraud twice while renting villas with deposits of 163 million won and 250 million won. The landlord forged official documents related to rental insurance, deceiving approximately 160 tenants, including Jung. After losing his life savings, Jung's future housing plans have become uncertain.
Young people attempting to purchase homes are also facing obstacles due to loan regulations.
Kang Ji-han, in his 30s, who won a lottery for an apartment in Guri, Gyeonggi Province, is struggling to secure the remaining funds after his expected loan was denied. Due to the exhaustion of household loan limits in the banking sector, the amount he can borrow has decreased regardless of his income level. If he cannot secure the funds by the payment deadline, he risks losing his deposit.
The combination of declining jeonse listings, rising monthly rents, and increasing home prices has led to the emergence of terms like 'survival purchase' among young people, surpassing the previous trend of 'young-geul' (a term for extreme financial effort to buy a home).
'PD Notebook' has selected an apartment with the highest transaction volume in Seoul during the first half of this year and conducted a comprehensive investigation of 3,830 property registration documents. The production team will examine the scale of loans and funding methods that 2030s have undertaken to purchase homes.
The program will also address the frustrations of young people regarding government real estate regulations.
As regulations aimed at controlling housing prices and speculation continue to be implemented, concerns have been raised that the housing ladder for young people without homes is becoming weaker. Recently, a lawmaker proposed using decommissioned buses as housing solutions for young people, sparking controversy.
While the government has since announced measures to ease loan regulations and expand public housing supply, many young people still express that their housing burdens remain significant.
The episode of 'PD Notebook' titled 'The Era of Jeonse Extinction - 2030 on the Edge,' which explores the precarious housing reality of young people in their 2030s amid declining jeonse availability, rising monthly rents, and loan regulations, will air today at 10:20 PM.
* This article has been translated by AI.
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