The monthly rent for one-room apartments near major universities in Seoul decreased compared to last year, but management fees have increased.
On the 12th, real estate information platform Dabang analyzed the average monthly rent and management fees for one-room apartments (with a dedicated area of 33 square meters or less) near 10 major universities in Seoul, finding that the monthly rent based on a deposit of 10 million won is 581,000 won, and the management fee is 75,000 won.
The monthly rent decreased by 4.5% compared to the same period last year (608,000 won). However, the management fee rose by 3.3% compared to last year (73,000 won).
By region, the area near Seoul National University saw the largest drop, going from 500,000 won last year to 423,000 won this year, a decrease of 15.4%. Following that, the area near Chung-Ang University fell from 550,000 won to 477,000 won, a decrease of 13.3%; the area near Hankuk University of Foreign Studies decreased from 650,000 won to 582,000 won, a drop of 10.5%; the area near Sungkyunkwan University decreased from 610,000 won to 576,000 won, a decline of 5.6%; the area near Ewha Womans University fell from 740,000 won to 709,000 won, a decrease of 4.2%; the area near Sogang University decreased from 640,000 won to 617,000 won, a drop of 3.6%; and the area near Yonsei University fell from 630,000 won to 614,000 won, a decrease of 2.5%.
In contrast, one-room apartments near Hanyang University increased from 550,000 won last year to 575,000 won this year, which is a 4.5% rise, while Korea University saw an increase from 580,000 won to 589,000 won, a 3.3% rise, and Kyunghee University went up from 630,000 won to 634,000 won, a 0.6% rise.
The area with the highest average increase in management fees is near Korea University, which rose from 70,000 won last year to 83,000 won this year, indicating an increase of 18.6% compared to a year ago. The area near Hanyang University increased from 60,000 won to 70,000 won, a rise of 16.7%; the area near Ewha Womans University increased from 90,000 won to 101,000 won, a rise of 12.2%; and the area near Sogang University increased from 60,000 won to 64,000 won, a rise of 6.7%.
The average management fees for areas near Kyunghee University and Yonsei University remained unchanged from 80,000 won and 70,000 won, respectively. The areas where average management fees decreased include the area near Sungkyunkwan University, which fell from 60,000 won to 55,000 won, a decrease of 8.3%; the area near Chung-Ang University dropped from 80,000 won to 76,000 won, a decrease of 5%; the area near Hankuk University of Foreign Studies fell from 80,000 won to 77,000 won, a decrease of 3.8%; and the area near Seoul National University decreased from 80,000 won to 78,000 won, a decrease of 2.5%.
Among major university areas, the region with the highest average monthly rent and average management fees is near Ewha Womans University. Last month's average monthly rent for one-room apartments in this area was 709,000 won, with a management fee of 101,000 won, which is 22.1% higher in rent and 34.0% higher in management fees compared to the average for major universities in Seoul.
A Dabang official noted, "Recently, we observed that the average monthly rent for one-room apartments near major universities in Seoul has decreased, but the average management fees have increased. The young population and single-person households, who primarily reside in university areas, have fixed expenses for both rent and management fees, so even if the rent has decreased, the actual housing burden is likely to remain significant."