According to the data submitted by the Korea Real Estate Agency to Rep. Lee Jong-bae, the People’s Strength, the monthly rent supply and demand index for apartments in Seoul was 100.1 in August, exceeding 100 for the first time this year.
In the cheonsei ratio, if it is lower than 100, it means that more landlords want to rent a house than tenants who want to buy a house, and if it is higher than 100, it means that there are more tenants than landlords.
The Seoul apartment jeonse supply and demand index is on a downward trend to 94.2 in June, 91.3 in July, and 87.7 in August.
Jeonse prices for apartments in Seoul fell 0.25% in August, the biggest drop in 41 months since April 2019.
The monthly rent for apartments in Seoul rose 0.12% in August, the 38th consecutive month of increase since July 2019.