As the cheonsei crisis spreads across the country, the index, which shows the level of shortage of apartment rental supply in Seoul, soared to an all-time high in a survey by the Korea Appraisal Board.



According to the statistics of weekly apartment price trend released by the Korea Appraisal Board on the 6th, the apartment charter supply and demand index in Seoul in the first week of November was 130.1, up 5.4 points from last week (124.8).



This is the highest figure since July 2012, when the Korea Appraisal Board began publishing statistics on the jeonse supply and demand index.



This means that in the apartment charter market in Seoul, the supply cannot keep up with the demand and there is a concern about the charter crisis.



The jeonse supply and demand index is an indicator of the degree of shortage of jeonse supply and is expressed as a number between 1 and 200.



A higher number indicates a shortage of jeonse supply, and a lower number indicates a lack of demand.



Seoul's jeonse supply and demand index continued to fluctuate in the 100-110 box range until the first half of this year, and then crossed the 120 line for the first time at 120.0 in the second week of August after the new lease law took effect.



Since then, the index, which moved sideways below 120, moved between 120 and 130 at 121.4, 124.5, 126.1, and 124.8 in the 1st to 4th week of last month, and then crossed the 130th line for the first time in history in the first week of this month (130.1).



Previously, in a monthly survey by a private institution, KB Kookmin Bank, the jeonse supply and demand index in Seoul was 191.1 on a monthly basis, recording the highest in 19 years and 2 months, raising concerns about cheonsei crisis.



According to the appraisal weekly survey, the jeonse supply and demand index in the metropolitan area, including Seoul, rose to 123.3, the highest level in 5 years since the first week of November 2015 (123.5).Gyeonggi-do was 121.1 and Incheon was 114.3, respectively, 8 years 4 months and 3 years. It was the best in three months.



Excluding the metropolitan area, it was 106.1, the highest since the fourth week of February 2016 (106.1).



The local charter supply shortage was also confirmed by figures.



Ulsan's jeonse supply and demand index this week was 134.2, the highest ever since this survey, and Sejong's 134.8, the highest in 7 years and 11 months.



Daegu (114.1), Gwangju (105.9), Daejeon (114.6), Gangwon (108.4), Chungnam (111.8), Jeonbuk (100.9), and Jeonnam (106.5) also crossed the baseline, and the supply of jeonse was insufficient.



After the implementation of the new lease law, which introduced the cheonsei ceiling system and the right to apply for contract renewal, the number of tenants renewing their lease contracts and staying in existing houses has increased significantly, leading to a nationwide increase in jeonse shortages and lease prices. Concerns are growing.



(Photo = Yonhap News)