Tag: monthly rent

monthly rent

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Housing hikes

Advertisements for one-room apartments and boarding houses are posted on a board near Chung-Ang University in Heukseok-dong of Dongjak District, southern Seoul, on Wednesday. The monthly rent for one-room apartments near universities in Seoul...

2023.4.12

Notices of apartments for sale are posted on a window at a realtor's office in Seoul. The number of monthly rentals were more than half of the total lease contracts in the country in April for the first time, according to the Ministry of Land, Infrastructure and Transport. [YONHAP]

More monthly rental contracts signed than jeonse contracts

More than half of the residential rent contracts signed in April were monthly rentals instead of the long-term leases. It was first time since the data were first compiled that the 50-percent mark was broken.

2022.6.2

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View of apartments in Seoul on Tuesday from Lotte Tower in Jamsil. [YONHAP]

More people are renting than signing jeonse contracts in Seoul

From January to April, 51.6 percent of the contracts were monthly rent deals as opposed to jeonse — lump-sum long-term deposit leases — according to data from the Supreme Court of Korea compiled by Jikbang.

2022.5.17

Rents are posted at a real estate agency in downtown Seoul. Due to the skyrocketing property prices and jeonse prices, more people are turning to monthly rentals. [NEWS1]

More rental contracts signed as property prices increase

Rising property prices have led more people to rent by the month.

2021.11.23

Monthly rent prices are posted at a real estate agency in downtown Seoul on Sept. 12. [NEWS1]

Four in ten apartment contracts in August were monthly rentals

Four out of 10 apartment lease contracts made in Seoul in August were for monthly rent, as more landlords are shifting their jeonse long-term deposit units to monthly rent in an effort to make up for their high real estate taxes.

2021.9.13

A passerby walks by a banner in Myeong-dong, central Seoul, thanking the landlord for lowering rents during the coronavirus pandemic on Feb. 24. [NEWS1]

Billions of won of rent cut during pandemic by landlords

Last year, more than 100,000 landlords voluntarily cut rents to help their tenants who were suffering amid the pandemic, according to a report released by the office of Rep. Yang Kyung-sook of the ruling Democratic Party.

2021.8.4

A view of apartments in central Seoul on Nov. 3. [YONHAP]

High-end rentals becoming more expensive faster

As the government works to keep property price down, the prices keep rising, especially at the top end of the market.

2020.11.17

Postings on the window of a real estate agency in Seoul on Nov. 1 demonstrate the shortage of jeonse offerings in the local real estate market. [NEWS1]

Property quagmire leads to rental mania and combo deals

As real estate regulations have made it increasingly difficult for people to live in apartments by paying jeonse long-term deposits, monthly rent in Seoul is on the rise.

2020.11.10

Renters given the third degree as new laws protect them

Landlords are grilling tenants these days after the passage of three laws designed to protect renters, and they are asking for more money because of the higher costs and risks after the passage of the law.

2020.8.4

The duty-free store section located in Terminal 1 of Incheon International Airport is empty as the number of customers drops from the coronavirus pandemic. [NEWS1]

Duty-free operators seeking their own deals at the airport

Duty-free retailers are in final negotiations with the airport on what to do with their stores in Terminal 1 once leases expire on Aug. 31. Duty-free stores obtain business rights at the airport every five years through open bidding.

2020.7.8