In the first quarter of this year (January to March), the transaction volume for rent for a villa in Seoul was the highest since statistics were compiled. It is interpreted that the demand for villas, which is an alternative, has surged as the price of rent for apartments has soared.
According to the result of analysis of real estate transaction data for villas (column and multi-family) in Seoul Real Estate Information Plaza on the 25th by Real Estate Information Company Economic Manlab on the 25th, in the first quarter of this year, the transaction volume of rented villas in Seoul was 31,676, since 2011 when related statistics were compiled. It was the highest in the first quarter. The number of transactions involving monthly rent also amounted to 12,247, the highest number since the first quarter of 2011.
By region, Songpa-gu had the highest transaction volume with 4,663 cases. It was followed by Gangseo-gu (2539 cases), Gwangjin-gu (1881 cases), and Gangnam-gu (1867 cases). In Songpa-gu, 2471 of the 4663 monthly rental transactions were monthly, and the monthly rental transaction volume was the highest among the 25 autonomous districts of Seoul.
Experts analyzed that this was the result of a large number of end-users being driven to villas as the price of rent for apartments in Seoul skyrocketed following the enforcement of the 3rd Lease Act. Hansol Hwang, a research researcher at Economic Manlab, said, “From the end of July, two years following the lease law came into force, it is highly likely that more tenants who have exhausted their right to request a contract renewal will move from apartments to villas.”
Seongnam = Reporter Jeong Seo-young [email protected]
