The increase rate of “jeonse” prices for apartments in Seoul was threefold higher than the consumer price growth rate of 27.2 percent over the past 10 years, according to the Seoul Metropolitan Government Tuesday.
As of the end of October this year, the average price to lease an apartment in Seoul (paid in the form of a lump sum with a two-year guarantee) reached 377.7 million won ($331,046). The average monthly lease was 136 million won in down payment, followed by monthly payments of 896,000 won.