Politics · South Korea · 2 hrs ago
Rental homes remain scarce across South Korea’s capital region
South Korea’s government is speeding up housing supply, but rental-home demand still exceeds supply across the capital region.
In the second week of November, Gyeonggi Province’s rental supply-demand index reached 110.7, its highest level since August 2021.
The index uses 100 as a balance point, and a score above 100 means more people want homes than landlords are offering.
Seoul’s index was 120.2, while Incheon’s was 110.4, showing that the imbalance also affects those areas.
Tenants with limited money may be pushed to nearby areas when homes are scarce and rents face upward pressure, according to a property researcher.
The government says 44,000 homes are due to be occupied in Seoul and the wider capital region by the end of the first quarter of next year.
It also plans about 100,000 public housing units in the region by next year and says it will continue measures to stabilize rents.
Rental housing supply remains tight across South Korea’s capital region, with demand exceeding supply in Seoul, Gyeonggi Province and Incheon.
In the second week of November, the rental supply-demand index was 110.7 in Gyeonggi, 110.4 in Incheon and 120.2 in Seoul.
The index is based on 100 as the balance point, with higher scores indicating more people seeking homes than offering them.
A housing researcher said limited new rental listings were putting upward pressure on rents and pushing some tenants to nearby areas.
The government has pointed to more listings and planned housing completions as signs of market stability, while acknowledging that rental listings remain limited.
- Who
- Renters and prospective tenants across the capital region are facing tight supply. The government and a housing researcher offered views on the market.
- What
- Rental demand is exceeding supply in Seoul, Gyeonggi Province and Incheon.
- When
- The reported figures are for the second week of November 2026. The article was published on November 14, 2026.
- Where
- Seoul, Gyeonggi Province and Incheon, in South Korea’s capital region.
- Why
- The article says few new rental homes are entering the market, leaving existing listings to meet demand.
South Korean government
Nam Hyuk-woo, Woori Bank real estate researcher
Market conditions
South Korean government
The government cited more apartment sale and rental listings, slower price increases and planned housing supply as signs of market stability.
Nam Hyuk-woo, Woori Bank real estate researcher
New rental supply is limited, and existing listings are insufficient to meet demand.
Effect on renters
South Korean government
The government said it would proceed with rental-market measures in its housing stability plan.
Nam Hyuk-woo, Woori Bank real estate researcher
Tenants with the means may switch to buying, while others are being pushed to nearby areas.
The rental supply-demand index in Gyeonggi’s Gyeongui region was 91.1, indicating supply exceeded demand.
Seoul’s rental supply-demand index reached 128.1.
The government cited market indicators and planned housing supply at a regular housing-supply briefing.
The rental supply-demand index stood at 110.7 in Gyeonggi, 110.4 in Incheon and 120.2 in Seoul.
- Gyeonggi index
- 110.7 in the second week of November
- Incheon index
- 110.4 in the second week of November
- Seoul index
- 120.2 in the second week of November
- Seoul’s highest reported index
- 128.1 in the fourth week of July
- Planned move-ins
- 44,000 homes in Seoul and the capital region by the end of the first quarter of 2027
- Public housing plan
- About 100,000 public homes in the capital region by 2027
1 source
What people are saying
Because there is little new rental supply and the market is being served only by existing listings, listings are scarce in outer areas and pressure for rent increases is strong.
Rental listings have increased to some extent, but they are not at a particularly high level compared with the past.