In February 2021, the average monthly rent for one-bedroom flats in Seoul, South Korea, amounted to around 510,000 South Korean won, up from about 480,000 South Korean won in the previous month. The average monthly rent for one-bedroom apartments in Seoul has shown an upward trend recently.
Living in Seoul
In a metropolitan area like Seoul, housing is a scarce commodity, and prices are constantly rising as a result. The high population density of the capital, and the increasing trend to move towards the city to enjoy urban life is reflected in the housing situation. This can also be seen in the most common type of housing in Seoul, which is apartments. This is a general trend nationwide, with high-rise apartments over five stories being the most frequent type of housing in South Korea.
Single-households are most prominent
The most prominent type of household in South Korea is single households, as they make up more than 30 percent of all domestic households. To aid this portion of the public, there are housing support programs single households can participate in. The share of participants for such programs was the highest in loans for housing leases. Other offered programs are subsidies for monthly rent or the supply of long-term public rental housing.
Average monthly rent for one-bedroom flats in Seoul, South Korea from February 2020 to February 2021
(in 1,000 South Korean won)
Characteristic
Monthly rent in thousand South Korean won
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Yonhap. (March 3, 2021). Average monthly rent for one-bedroom flats in Seoul, South Korea from February 2020 to February 2021 (in 1,000 South Korean won) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/1078427/south-korea-monthly-rent-for-one-room-flats-seoul/
Yonhap. "Average monthly rent for one-bedroom flats in Seoul, South Korea from February 2020 to February 2021 (in 1,000 South Korean won)." Chart. March 3, 2021. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/1078427/south-korea-monthly-rent-for-one-room-flats-seoul/
Yonhap. (2021). Average monthly rent for one-bedroom flats in Seoul, South Korea from February 2020 to February 2021 (in 1,000 South Korean won). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/1078427/south-korea-monthly-rent-for-one-room-flats-seoul/
Yonhap. "Average Monthly Rent for One-bedroom Flats in Seoul, South Korea from February 2020 to February 2021 (in 1,000 South Korean Won)." Statista, Statista Inc., 3 Mar 2021, https://www.statista.com/statistics/1078427/south-korea-monthly-rent-for-one-room-flats-seoul/
Yonhap, Average monthly rent for one-bedroom flats in Seoul, South Korea from February 2020 to February 2021 (in 1,000 South Korean won) Statista, https://www.statista.com/statistics/1078427/south-korea-monthly-rent-for-one-room-flats-seoul/ (last visited August 25, 2024)
Average monthly rent for one-bedroom flats in Seoul, South Korea from February 2020 to February 2021 (in 1,000 South Korean won) [Graph], Yonhap, March 3, 2021. [Online]. Available: https://www.statista.com/statistics/1078427/south-korea-monthly-rent-for-one-room-flats-seoul/