Jeju Island, experiencing the nation’s most dramatic surge in Jeonse costs last year,
shows stability since year’s end… Seoul also exhibits four consecutive weeks of supply increase
The Ministry of Land, Infrastructure, and Transport aims to stabilize the market by significantly boosting next year’s Jeonse supply.
However, concerns linger about potential price spikes due to a surge in new lease agreements commencing in August.
The Jeonse supply-demand ratio in Jeju Island, which witnessed the sharpest rise in apartment rental costs among all provinces and cities this year, dipped below 100. This indicates a surplus of rental properties compared to demand. Meanwhile, in Seoul, landlords seeking tenants outnumber those searching for Jeonse for the fourth straight week.
According to data released by the Korea Real Estate Agency on December 1st, the Jeonse supply-demand index for Jeju Island apartments registered 98.3 for the week ending December 27th. This index, ranging from 0 to 200, signifies an oversupply when below 100.
This marks the first time the index
