The average jeonse deposit for studio apartments in Seoul increased in August, while the average monthly rent decreased.
On September 29, the real estate platform Dabang released its "August Dabang Map," analyzing the rental prices of studio apartments with a floor area of 33 square meters or less across 25 districts in Seoul, based on actual transaction data from the Ministry of Land, Infrastructure and Transport.
The analysis revealed that the average jeonse deposit for studio apartments in Seoul was 222.28 million won, an increase of 2.93 million won (1.3%) from the previous month. In contrast, the average monthly rent fell to 670,000 won, down 20,000 won (2.4%) during the same period.
By district, Seocho-gu had the highest average jeonse deposit at 286.32 million won, which is 129% of the Seoul average. It was followed by Gangnam-gu (120%), Jung-gu (119%), Gwangjin-gu (107%), Yongsan-gu (106%), Songpa-gu (105%), Seongdong-gu and Yeongdeungpo-gu (103%), and Mapo-gu (100%), all showing similar or higher levels compared to the Seoul average.
Yongsan-gu recorded the highest average monthly rent at 1.16 million won, which is 173% of the Seoul average and a 32.5% increase from the previous month's 870,000 won. Dabang attributed the rise in average monthly rent in Yongsan to transactions of high-priced newly built studio apartments.
Areas with monthly rents above the Seoul average included Gangnam-gu (131%), Seongdong-gu (118%), Seocho-gu (114%), Gangseo-gu (111%), Jungnang-gu (109%), Mapo-gu (106%), Gwangjin-gu and Seongbuk-gu (105%), Yeongdeungpo-gu (104%), and Dongdaemun-gu (101%).
In Seongbuk-gu, the average monthly rent was 700,000 won, a significant increase of 35.1% from the previous month. Dabang explained that this surge was influenced by a base effect, as the average monthly rent in July was 520,000 won, which had temporarily dropped from 650,000 won in June.
This survey focused on studio apartments with a floor area of 33 square meters or less that were transacted in August in Seoul, with monthly rent calculated based on a deposit of 10 million won and jeonse based on all transactions.
Previously, Dabang reported that in July, the average jeonse deposit for studio apartments in Seoul had slightly decreased, while the average monthly rent rose by over 6%, indicating a divergent trend between jeonse and monthly rent.
* This article has been translated by AI.
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