9 Out of 10 Jeonse Renewals Saw Deposits Rise by Average of 46.83 Million Won

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Jeonse renewal deposits have increased by 46.83 million won.

Many people live under the jeonse system in Seoul.

Deposits for nearly 9 out of 10 recent jeonse renewals rose by this amount.

According to the Ministry of Land, Infrastructure and Transport's actual transaction price data, about 88% of apartment jeonse renewals in Seoul that did not use the contract renewal right saw an increase in their deposits last July.

This is an average increase of 46.83 million won, or about 9%, compared to two years ago.

On the other hand, in cases where the contract renewal right was used, the rent increase was limited to within 5%, resulting in an average increase of 27.44 million won.

Looking at these figures alone, the housing burden in Seoul is far from easy.

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