Seoul apartment rent prices high as 2.7 million won per month

Sep 17, 2021, 11:29 am

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An image of Acro Seoul Forest, a luxurious apartment complex in Seongsu-dong, Seoul./ Source: DL ENC

AsiaToday reporter Hwang Eui-joong

Acro Seoul Forest, located in Seongsu-dong, was found to have the highest monthly rental fees among apartments traded in Seoul in July. Its monthly rental price reached 27million won, excluding the deposit.

The apartment with 264.5 square meters in size was traded on July 30 for a monthly rent of 27 million won with the deposit payment at 2 billion won, according to data released Thursday by People Power Party (PPP) lawmaker Kim Sang-hoon based on real transaction price disclosure system of the Ministry of Land, Infrastructure and Transport.

This is close to the average annual salary of first-year employee in the SMEs, who earns 28.52 million won. In June, a two-year “jeonse” contract was signed for this apartment for 6.9 billion won.

Next, An Enigma Ville in Cheongdam-dong with 230.7 square meters in size was traded for a monthly rent of 12 million won with the deposit payment at 300 million won. A monthly rent for Banpo Xi apartment in Banpo-dong with 245 square meters was traded for 10 million won with the deposit payment of 1 billion won, and Hannam The Hill in Hannam-dong for 8 million won with 1.2 billion won as deposit.

In terms of two-year rental contract jeonse, Raemian Daechi Palace with 151.3 meter square in Daechi-dong saw the highest price of 3.6 billion won. Jeonse for Banpo Xi with 216.5 meter square stood at 3.2 billion won, Acro River Park with 130 meter square at 3.2 billion won, and Tower Palace 3 in Dogok-dong with 163.7 meter square at 3 billion won.

“Super expensive apartments with monthly rent of 27 million won and jeonse of 3.6 billion won will be protected by the so-called Lease 3 Acts,” said Rep. Kim. “The Moon administration is showing failures of its real estate policy in detail.”

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