Seoul Rental Deposit Prices See Steepest Rise in 12 Years and 8 Months

Seoul apartment rental deposit prices have risen by the largest margin in 12 years and 8 months. This week's weekly increase was 0.35%, the highest figure since October 2013. The cumulative year-to-date increase stands at 4.79%, more than five times higher than in the same period last year.

This week, the rental deposit price increase in the Gangbuk area (0.42%) was 0.13 percentage points higher than in the Gangnam area (0.29%). Seongdong-gu and Seongbuk-gu recorded the highest increase rates among Seoul's 25 districts, each rising by 0.55%. In Seongdong-gu, an 84㎡ unit at 'Oksu Park Hills' in Oksu-dong saw a new contract signed this month at 1.3 billion won, an increase of 200 million won from 1.1 billion won in March. In Hawangsimni-dong, an 84㎡ unit at 'Ten's Hill 1 Complex' increased by 255 million won in just five months.

Seoul apartment sale prices continued their upward trend for the 72nd consecutive week. This week's increase of 0.30% widened the margin compared to the previous week's 0.27%.