Average Deposit Lease found in Seoul Place Surpasses W400 Million
03 February, 2021
The cost of jeonse or Korean-style deposit lease on apartments in the higher Seoul area surpassed W400 million for the very first time ever (US$1=W1,117)
According to Kookmin Bank upon Tuesday, product sales prices of flats across the country increased 1.52 percent on average in January, up several percent for the third straight month.
Jeonse prices also increased 1.01 percent in January. The common in the Seoul metropolitan location stood at W400 million, the best on record. It required 3 years and 10 months for the average jeonse to go up from W300 million to W350 million, but just four a few months to hop to W400 million.
In Seoul right, the average jeonse was W588.3 million keep going month, up 17.8 percent compared to July 2020, when laws were strengthened to protect tenants' rights.
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