Business · South Korea · 1 hr ago
More than half of Seoul apartment leases were renewals in the second half of 2026
In the second half of 2026, 55.4% of Seoul apartment leases were renewals, up from 44.3% a year earlier.
The figures cover 27,203 lease contracts, and the renewal share passed half for the first time in a half-year period.
Tenants in Seoul are renewing rather than moving as rental listings become harder to find and deposits rise.
The number of Seoul apartment lease listings fell 10.3% from the start of the year, with steeper drops in several outer districts.
Average Seoul apartment deposits rose 8.21% from January to September, according to the Korea Real Estate Board.
Some tenants who have used their right to request a renewal may have to move to smaller homes or different areas because similar housing costs more.
The source says expanding land transaction permit zones has coincided with a sharp fall in rental supply, but it gives no specific next policy step.
More than half of apartment lease contracts in Seoul in the second half of 2026 were renewals.
Renewals made up 55.4% of 27,203 contracts, up 11.1 percentage points from the same period last year.
The share was highest in Gangseo and Jungnang districts, where renewals accounted for 67.2% and 66.6% of contracts.
The article links the rise in renewals to fewer available lease listings and rising deposits, which are making it harder for tenants to move.
Seoul apartment lease listings fell by 10.3% from January 1 to October 20, while average deposits rose 8.21% from January to September.
- Who
- Seoul apartment tenants and landlords.
- What
- Renewals accounted for 55.4% of apartment lease contracts in the second half of 2026.
- When
- The second half of 2026; the figures were reported on October 21.
- Where
- Seoul, South Korea.
- Why
- Fewer available listings and rising lease deposits are leading tenants to renew rather than move.
This story does not have two clearly opposing sides.
Seoul had 23,060 apartment lease listings.
Renewals accounted for 55.4% of Seoul apartment lease contracts.
Seoul had 20,680 apartment lease listings, down 10.3% from January 1.
The renewal figures were reported.
- Renewal share
- 55.4% of 27,203 contracts
- Year-on-year change
- Up 11.1 percentage points from the second half of 2025
- Gangseo District
- 67.2% of contracts were renewals
- Jungnang District
- 66.6% of contracts were renewals
- Lease listings
- 20,680 on October 20, down 2,380 from January 1
- Average lease-price rise
- 8.21% in Seoul from January to September 2026
1 source
What people are saying
The trend of sharply reduced jeonse supply has continued since the expansion of land transaction permit zones
Concerns about increased tax burdens are putting upward pressure on monthly rents