Monthly rent prices have risen to the highest level ever...Aftermath of loan regulations

Recently, as demand for monthly rent increases due to stricter loan regulations, monthly rent prices have soared to the highest level ever.

According to KB Real Estate statistics, the monthly rent index for apartments in Seoul rose 1 point on-month to 117.1 in September, the highest since December 2015, when KB Real Estate began compiling related statistics.

Due to the increase in ultra-high monthly rent, 13 ultra-high monthly rent transactions worth more than 20 million won were reported in Seoul until September this year.

The monthly rent index for apartments in the Seoul metropolitan area also rose 0.8 points from the previous month to 118.9, the highest ever, and the monthly rent index for apartments as well as single-family houses and villas has continued to rise this year.

It is analyzed that the demand for transferring to monthly rent has increased as stricter loan regulations have made it difficult to sell and lease loans since last month, and it is highly likely that the rise in monthly rent will eventually lead to an increase in jeonse prices.