Business · Economy · 1 hr ago
Rising rents and few listings push Seoul tenants to Gyeonggi
More Seoul tenants are being pushed to move to Gyeonggi as rental homes become scarce and prices rise.
One example is a 30-year-old who left an apartment in Gwangjin-gu after living there for four years.
The landlord offered to return 200 million won of the deposit and switch the lease to monthly rent two months before the contract ended.
In South Korea, a jeonse lease involves a large deposit and generally avoids monthly rent.
The tenant said accepting a mixed deposit-and-rent arrangement would add 2 million won in housing costs each year.
The tenant moved to Anyang, in Gyeonggi, instead; the account gives no further details about what happens next.
A Seoul tenant moved to Gyeonggi after the landlord proposed changing the lease terms and raising the tenant’s housing costs.
The 30-year-old tenant, identified only by the surname Park, left an apartment in Seoul’s Gwangjin district for Anyang.
Park had lived in the apartment for four years.
The landlord proposed returning 200 million won of the deposit and switching the lease to monthly rent.
The story headline says rising rents and a shortage of listings are pushing tenants from Seoul to Gyeonggi.
- Who
- Park, a 30-year-old tenant, and the landlord.
- What
- Park moved from Seoul to Gyeonggi after the landlord proposed changing the lease to monthly rent.
- When
- In July; the year is not stated in the article text.
- Where
- From Gwangjin district in Seoul to Anyang in Gyeonggi.
- Why
- The landlord proposed returning part of Park’s deposit and switching the lease to monthly rent, which would have added 2 million won a year in housing costs.
This story does not have two clearly opposing sides.
Park began living in an apartment in Seoul’s Gwangjin district.
The landlord proposed returning 200 million won of the deposit and switching the lease to monthly rent.
Park moved from Gwangjin district to Anyang in Gyeonggi.
- Tenant
- Park, age 30
- Previous home
- Gwangjin district, Seoul
- New home
- Anyang, Gyeonggi
- Time in apartment
- Four years
- Deposit proposed for return
- 200 million won
- Added annual housing cost
- 2 million won under the proposed rent change