Business · Economy · 40 mins ago
Monthly Rent Tops Half of Seoul Apartment Rentals for First Time
From January to September, monthly rent made up 51% of Seoul apartment rental deals, passing half for the first time.
The figures cover apartment rentals across Seoul, South Korea, and include both monthly rent and jeonse, a system where tenants pay a large deposit instead of monthly rent.
There were 87,740 monthly rental deals and 84,287 jeonse deals during the period.
The shift came mainly because jeonse deals fell 27.5% in a year, while monthly rental deals declined by only 2.8%.
Monthly rentals outnumbered jeonse in 13 of Seoul's 25 districts, compared with four districts in the same period last year.
Average Seoul apartment rent reached 1.661 million won in September, up 218,000 won from a year earlier, adding to tenants' costs.
If the trend continues, monthly rentals could exceed jeonse for the first time over a full year, though the transaction figures may change as records are updated.
Monthly rentals made up 51.0% of Seoul apartment rental transactions from January to September 2026, the first time the share exceeded half for that period.
The rise came as jeonse transactions fell much faster than monthly rentals.
Monthly rentals accounted for 8.7 percentage points more of transactions than in the same period a year earlier.
Monthly rentals exceeded jeonse transactions in 13 of Seoul’s 25 districts, up from four a year earlier.
The average Seoul apartment monthly rent in September was 1,661,000 won, 218,000 won higher than a year earlier.
- Who
- Seoul apartment renters and the rental market.
- What
- Monthly rentals made up 51.0% of apartment rental transactions from January to September, surpassing half for the first time.
- When
- January to September 2026; the figures were reported on October 20, 2026.
- Where
- Seoul, South Korea.
- Why
- Jeonse transactions dropped sharply, while monthly rental transactions declined much less.
This story does not have two clearly opposing sides.
Monthly rentals made up 43.7% of Seoul apartment rental transactions, and they exceeded jeonse transactions in four districts.
Monthly rentals made up 51.0% of transactions, and they exceeded jeonse transactions in 13 districts.
The average monthly rent for a Seoul apartment was 1,661,000 won.
News reports published the figures and said the monthly rental share had exceeded half for the first time.
- Monthly rental share
- 51.0% of Seoul apartment rental transactions, January–September 2026
- Year-on-year change
- Up 7.3 percentage points from the same period in 2025
- Districts where monthly rentals exceeded jeonse
- 13 of Seoul’s 25 districts, compared with 4 a year earlier
- Average monthly rent
- 1,661,000 won in September 2026, up 218,000 won year on year
- Transaction-count discrepancy
- Reports gave monthly rental totals of 87,740 and 87,870; total rental counts of 172,027 and 172,227
What people are saying
The effects of designating all of Seoul as a land transaction permit zone and strengthening taxes on non-resident owners of one home will continue to reduce jeonse listings, so the shift from jeonse to monthly rentals and the burden of monthly rent costs will continue.