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With the introduction of the lease law two years ago, there were many predictions that there would be a jeonse chaos where you could not find a jeonse house by now, but the opposite is true.
Jeonse for sale is piling up mainly in new apartments.
Reporter Han Sang-woo on the sidewalk.
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It is an apartment complex with about 1,100 households in Gwanak-gu, Seoul, with only one week left to move in.
There are over 200 rental properties in the vicinity, including this apartment.
[(For sale) I can't digest it and there are about 30 of them now.
There are 120 pieces here, but here we are waiting again.
To move in in December...]
As soon as the move-in started, stocks came pouring out at once, but the popularity is not as good as it used to be.
[Jeon Yeong-ok / Certified Realtor in Gwanak-gu, Seoul: If there are 120 at once, the demand for moving in this neighborhood is not waiting for 120 households.]
As interest rates rise, the interest on the jeonse loan becomes more expensive than the monthly rent.
Homeowners who can't find a tenant are getting desperate.
[Gwanak-gu authorized real estate agent: (exclusive 59㎡) When it first came out, it offered 700 million won and 800 million won, but now it is traded in the 500 million won range...
Come and move in now.
I'm trying to get the (jeonse) funds and pay them in full because of the contribution or something.]
For this reason, the Jeonse for sale in the metropolitan area increased by nearly 40% in three months.
As Jeonse prices fell a lot in Incheon and Gyeonggi, where there are many new constructions, this week, the Jeonse prices in the metropolitan area fell the most since 2012, when the Real Estate Agency started collecting statistics.
Next year, 210,000 households are scheduled to move into the metropolitan area, so there is a possibility that more Jeonse properties will accumulate.