Last month, the average monthly rent for Seoul's multi-family and multi-use studio apartments (with a usable area of 33 square meters or less) was recorded at 720,000 won.
The real estate information platform Dabang announced on the 26th its analysis of the monthly rent and lease levels by the 25 autonomous districts of Seoul's multi-family and multi-use studio apartments as of May this year, titled 'May Dabang Map.'
According to the Dabang Map, as of May this year, the average monthly rent for multi-family and multi-use studio apartments in Seoul, with a usable area of 33 square meters or less and a deposit of 10 million won, was 720,000 won, and the average jeonse deposit was 218.41 million won. This represents an increase of 40,000 won (6%) for average monthly rent and 5.87 million won (2.8%) for average jeonse deposit compared to the previous month in April. The increase in monthly rent was the largest recorded so far this year.
Yongsan District had the highest average monthly rent at 1.02 million won, which is 300,000 won more than the Seoul average of 720,000 won. Following were Gangnam District at 920,000 won, Seocho District and Seongdong District at 810,000 won, Dongjak District at 800,000 won, Jung-gu at 770,000 won, Gangseo District and Jungnang District at 760,000 won, Geumcheon District and Yeongdeungpo District at 760,000 won, and Gangdong District at 740,000 won, making a total of 11 regions with average monthly rents higher than the Seoul average.
For jeonse deposits of multi-family and multi-use studio apartments with a usable area of 33 square meters or less, Seocho District was identified as having the highest average jeonse deposit at 272.58 million won for five consecutive months. This amount is 54.17 million won higher than the Seoul average, which is equivalent to 125% of the average market price in Seoul. Following were Gangnam District at 259.27 million won, Gwangjin District and Yongsan District at 237.28 million won, Jung-gu at 226.68 million won, Seongdong District and Songpa District at 223.32 million won, and Mapo District at 221.62 million won, making a total of 8 regions with average jeonse deposits higher than the Seoul average.
Dabang produced the Dabang Map by calculating average monthly rent and average jeonse deposits based on a deposit of 10 million won, reflecting the conversion rates between monthly rent and lease. The average monthly rent represents transactions with a rental deposit of less than 100 million won, while the average jeonse deposit includes all jeonse transactions aggregated for analysis.