1/3 of Seoulites Live in Monthly Rentals

  • By Jang Hyeong-tae

    June 09, 2017 13:00

    Nearly one-third of Seoul citizens live in homes for monthly rent rather than jeonse or Korean-style deposit lease.

    Among people in their 30s, the proportion who live in rental homes rose from 19.4 percent in 2005 to 45.6 percent last year, according to the Seoul Metropolitan Government on Thursday.

    The figures are based on a survey on 20,000 Seoul residents and 2,500 foreigners and show that 31.3 percent of Seoulites live in monthly rentals, up from 20.4 percent in 2005.

    The proportion who paid jeonse fell apace by seven points to 26.2 percent over the 10 year period. And the ratio of owner-occupied homes stood at 42.1 percent, roughly the same since 2003, when the city started compiling such data.

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