On May 5, the average jeonse deposit for studio units in row houses and multi-family homes in Seoul rose by 5.99 million won in a month.
On the 30th, real estate information platform Dabang released the May Dabang Neighborhood Map, which analyzed monthly rent and jeonse levels by 25 autonomous districts for studio units (exclusive area of 33 square meters or less) in row houses and multi-family homes in Seoul as of May.
The Dabang Neighborhood Map is a map designed to let readers see at a glance each district's average monthly rent and average jeonse deposit, extracted based on actual transaction prices from the Ministry of Land, Infrastructure and Transport and compared with the Seoul average. Using the Seoul average price as the baseline (100%), a figure higher than 100% means studio prices in that district are above the average.
According to the May Dabang Neighborhood Map, the average jeonse deposit for studio units in row houses and multi-family homes in Seoul in May was 222.84 million won, up 5.99 million won (2.8%) from the previous month. During the same period, the average monthly rent based on a 10 million won deposit was 700,000 won, up 0.8% from the previous month.
This trend appears to reflect jeonse demand pressure from a decrease in apartment jeonse listings spilling over into non-apartment segments such as row houses and multi-family homes. In fact, 21 out of the 25 districts saw jeonse deposits rise from the previous month.
By district, Seocho ranked highest for average jeonse deposits at 125% of the Seoul average, marking the 10th straight month as the most expensive area for jeonse deposits in Seoul. It was followed by Gangnam at 120%, Jung at 117%, Seongdong at 110%, Yongsan at 108%, Gwangjin at 107%, Yeongdeungpo at 106%, Dongdaemun at 105%, Gangdong and Dongjak at 102%, and Mapo at 101%, for a total of 11 districts with average jeonse deposits above the Seoul average.
For average monthly rent, Gangnam was highest at 970,000 won, or 138% of the Seoul average. Gangnam has ranked No. 1 in average studio monthly rent in Seoul for 12 consecutive months since June last year. It was followed by Yongsan at 118%, Jung at 115%, Yeongdeungpo and Jungnang at 108%, Seocho at 107%, Yangcheon at 106%, Gwanak and Mapo at 105%, Gangseo at 103%, Songpa at 102%, and Geumcheon at 101%, for a total of 12 districts with average monthly rents above the Seoul average.
Meanwhile, the May Dabang Neighborhood Map released by Dabang covered studio units in row houses and multi-family homes with an exclusive area of 33 square meters or less that had a transaction in Seoul in May. It calculated the average monthly rent and average jeonse deposit based on a 10 million won deposit reflecting the jeonse-to-monthly rent conversion rate. The average monthly rent was compiled from transactions with monthly rent deposits under 100 million won, and the average jeonse deposit was compiled from all jeonse transactions.