The annual income of the top 0.1% of real estate rental operators in Seoul was reported to be an average of 1.3 billion won.
According to the comprehensive income tax declaration data submitted by the National Tax Service to Representative Park Sung-hoon of the People Power Party on the 17th, the top 0.1% of rental income in Seoul reported an average of 1.2998 billion won per person as of 2023. This is an increase of 1.0% compared to the previous year (1.2866 billion won).
This is about 600 million won more than the average of 718.42 million won for rental operators nationwide. Compared to other regions, it is 2.4 times that of Busan (534.49 million won) and more than four times that of Gyeongbuk, Gyeongnam, Daejeon, and Chungbuk. Gyeongnam is at 283.84 million won, Gyeongbuk is at 314.85 million won, Daejeon is at 319.68 million won, and Chungbuk is at 320.90 million won.
The total number of individuals declaring real estate rental income in Seoul is 360,370, with total rental income amounting to 8.8522 trillion won. The per capita average rental income for all rental operators in Seoul, not just the top 0.1%, is 24.56 million won, which is 2.0% more than the previous year (24.08 million won).
The average rental income for the other 16 cities and provinces, excluding Seoul, is all below 20 million won. The national average is 17.74 million won. The region with the lowest average rental income is Sejong, at 11.12 million won.
Considering the rise in house prices in Seoul last year, there is a strong possibility of significant regional polarization for the income attributable to 2024. The statistics for comprehensive income tax declarations for 2024 will be compiled at the end of this year.
Representative Park Sung-hoon noted that it is urgent to come up with system improvements, including strengthening tax credits for monthly rent, as well as the government's housing supply policies.