One-room housing costs in major university districts in Seoul are rising quickly. The average monthly rent has surpassed 600,000 won, and the average maintenance fee has also broken through 80,000 won. That is about 7% to 10% higher than the same period last year.
On the 11th, real estate platform Dabang analyzed the average monthly rent and maintenance fees for one-room units near 10 major universities in Seoul listed on Dabang in July and found that, based on a 10 million won deposit, the average monthly rent for a one-room (exclusive area of 33 square meters or less) was 625,000 won. That is 7.7% higher than 581,000 won a year earlier. Over the same period, the average maintenance fee rose 10.9% from 75,000 won to 84,000 won.
Looking at increases by area, the average monthly rent near Seoul National University rose 26.0% from 423,000 won last year to 533,000 won this year, the biggest jump in a year. Next were areas near Hankuk University of Foreign Studies, up 15.1% from 582,000 won to 670,000 won; near Yonsei University, up 10.4% from 614,000 won to 678,000 won; near Chung-Ang University, up 9.4% from 477,000 won to 522,000 won; and near Hanyang University, up 9.2% from 575,000 won to 628,000 won. In contrast, the area near Sungkyunkwan University fell 4.5% from 576,000 won last year to 550,000 won this year, the only decline among the 10 major universities.
The area with the biggest increase in average maintenance fees was near Chung-Ang University, which rose 34.2% from 76,000 won last year to 102,000 won this year. Next were areas near Seoul National University, up 16.7% from 78,000 won to 91,000 won; near Hanyang University, up 15.7% from 70,000 won to 81,000 won; near Yonsei University, up 14.3% from 70,000 won to 80,000 won; and near Hankuk University of Foreign Studies, up 10.4% from 77,000 won to 85,000 won. Contrary to the overall upward trend, only the area near Sogang University fell 3.1% from 64,000 won to 62,000 won.
The highest average monthly rent and maintenance fees were in the area near Ewha Womans University. Last month, the average monthly rent there was 767,000 won and the average maintenance fee was 103,000 won, more than 20% higher than the averages for major universities in Seoul.
Meanwhile, according to Dabang, as of Jan. this year ahead of the start of the first semester, the average monthly rent for one-room units in major university districts in Seoul was 622,000 won and the average maintenance fee was 82,000 won. Compared with July ahead of the second semester, the average monthly rent rose 3,000 won (0.5%) and the average maintenance fee rose 2,000 won (2.4%).
A Dabang official said, "Amid growing demand for small housing due to the increase in single-person households, monthly rents and maintenance fees for one-room units near universities are showing an overall upward trend," and added, "Before the semester begins, when demand concentrates, take time to review listings in advance, and make sure to thoroughly verify listings and landlord information comprehensively before signing a contract."