Business · Economy · 3 hrs ago
Seoul tenants pay more rent while keeping the same deposit
Tenants renewing Seoul apartment leases are paying extra monthly rent while keeping their deposits at the same level.
The average increase was 287,000 won a month, according to an analysis of renewal contracts reported from the start of the year through October 27.
In this type of lease, tenants pay a large deposit to the landlord, and the deposit can remain in place when a lease is renewed.
The added rent means about 3.44 million won more each year for the same home and deposit.
Tenants have not received their deposit back to use for other costs; the money remains with the landlord.
The figures draw attention to tenants' rising household costs, which can be obscured by attention to home prices.
Tenants in Seoul renewed apartment leases with unchanged deposits but began paying an average of 287,000 won more in monthly rent.
The increase amounts to about 3.44 million won over a year for the same home and deposit.
The deposit was not returned to tenants to repay loans and remained with landlords.
The figures come from an analysis of Seoul apartment renewal contracts reported this year through October 27.
- Who
- Seoul apartment tenants renewing leases.
- What
- They began paying an average of 287,000 won more in monthly rent while keeping the same deposit.
- When
- In contracts reported this year through October 27.
- Where
- Seoul, South Korea.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Seoul apartment renewal contracts reported this year were included in the analysis.
Chosun Ilbo published the column reporting the analysis.
- Average added monthly rent
- 287,000 won
- Estimated added rent over a year
- About 3.44 million won
- Location
- Seoul
- Contract type
- Apartment renewal contracts
- Data cutoff
- October 27, 2026
1 source
What people are saying
287,000 won. This is the average monthly rent tenants newly began paying while leaving their jeonse deposit unchanged.