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Name ringmimosa7
About Me If settling for a studio apartment is too expensive A 28 yr old was recently looking for a good one-room apartment close to work in Gwanghwamun, central Seoul. His family lives in Hwaseong, Gyeonggi, and he wished a place that would lower the commute. That plan fell through the next he walked through the door with the real residence agency with Sept. nineteen.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Earlier this year, he / she had visited the authentic estate agency in Dobong District, northerly Seoul. Back then, the jeonse selling price for a 26-square-meter (279. 9-square-foot) studio accommodation involved 90 million won ($76, 900). In his latest check out, that same area was initially trading at concerning 140 million won, upwards practically 45 %.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Beneath Korea’s jeonse technique, a good person sets down a new large lump-sum deposit within order to live throughout a property for the fixed number of years. The particular pay in is refunded without attention on the ending of the agreement.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     “I was about to sign an agreement early this year, nonetheless delayed it when often the Covid-19 outbreak got critical. I'm actually confused, ” he claimed. “I did not take it seriously, neither did I think it can be my trouble whenever people mentioned rising true estate prices. My spouse and i in no way imagined the price get would affect one-room apartments as well. ”                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Numerous Koreans that can’t afford jeonse deposits are right now turning to facilities lodgings. The demand has recently been driving jeonse prices regarding modest rooms through typically the roof.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               According to property brokerage app Dabang, the typical jeonse price of some sort of one-room accommodation in Seoul smaller than 30 square meters was about 162. 5 mil received in August, some sort of 16 pct increase through January.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Through the same period of time, the jeonse price regarding rooms sized between forty five to 60 rectangle yards increased 7. 6 per-cent to 210 , 000, 000 received.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     The increase is nearly all visible in Dobong Area, where apartments have been reasonably inexpensive.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     The average jeonse price of a condo smaller than 25 rectangular meters in Dobong Area was about 128. 3 zillion won inside August, a 57 percent increase compared to Economy is shown.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     During the same time, the standard jeonse price connected with the same-sized room around Jungnang Section, eastern Seoul increased 45 percent for you to 172. 3 million was the winner, while in Geumcheon Center, southern Seoul, the value flower 25 percent to 162. 7 million won. In Guro District, western Seoul, the price rocketed twenty four pct to 139. 6 , 000, 000 won.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     The latest rise in jeonse prices connected with one-room apartments may become due to tenant safeguard laws passed throughout July. The laws causes landlords to renew accords together with limits price raises.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Furthermore, more home owners are usually shifting from jeonse to regular rent. The number connected with jeonse orders of typically the tiny hotels in August was only about eight, 558, some sort of 23 pct decline in contrast to a month ago.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Jeonse loans, which happen to be a good relatively easy alternative for tenants, will be another driving force behind the retail price increases.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     “As interest prices intended for jeonse loans happen to be only regarding 2 per cent a year, property owners who also want to raise the particular jeonse prices are also suggesting renters borrow money from banking companies, ” said a real estate real estate agent in Jungnang District, east Seoul.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Jeonse prices connected with officetels are also boosting at a rapid rate.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     According to 원룸 소음 , officetel jeonse selling prices were 14. 61 , 000, 000 won per pyeong inside August, a 490, 1000 won jump in 30 days. A pyeong is 3 or more. 3 square meters.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     “As government regulation on business loans now also applies in order to those with only one apartment, demand for jeonse possesses been recently spiking lately, ” Shim Gyo-eon, a genuine property professor at Konkuk School, said. “In so that it will interesting down the jeonse market, [the government] should approve deregulation about loans below 900 , 000, 000 won so that men and women who are really in need can purchase houses. ”                                                                                                                                                                                                                                                                                                                                          
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