“I want to pay 500 million and 200 a month for a charter of 750 million dollars”… Sad tenants

#One. Mr. A, a 30-year-old office worker living in Gyeonggi-do, is looking for a charter house in the Gangseo-gu and Yangcheon-gu areas of Seoul, where his home and wife are located. When the first child is born, it is inevitable to move into Seoul to ease the burden of raising children. The rent for apartments in this area rose by 200 to 300 million won during the two years he lived in Gyeonggi-do. Mr. A, who was burdened by the leaps and bounds, turned to the reverse house by eating mustard while crying.

#2. Mr. B, an office worker in his 40s who is trying to return to Seoul after disposing of a local house worth about 300 million won, realizes the term’thunderbolt’ these days. The apartment he sold in the middle of 300 million won was currently trading at 700 million to 800 million won. A 20 pyeong villa in the nearby area is also worth 400 million won. Currently, even if they dispose of local houses, they actually have about 200 million won in their hands, so they are looking for an anti-war house.

It was found that the phenomenon of’refugees in the world’ is gradually intensifying while the high-altitude marches of jeonse prices are rarely caught. As jeonse prices soar, jeonse transactions are falling sharply, and the proportion of reverse-trend transactions is increasing.

According to the Seoul Real Estate Information Plaza on the 5th, the total number of jeonse transactions in Seoul in January was 5,468, a drop of 52.6% from 11,540 during the same period last year.

The volume of charter transactions in Seoul exceeded 10,000 per month, excluding April (9500 cases) until August of last year. However, after the enactment of the 3rd Lease Act, the number of cases decreased significantly to 8601 cases in September last year, 9894 cases in October, 8050 cases in November, 7339 cases in December, and 5468 cases in January this year.

The sharp decline in jeonse transactions in Seoul is due to the continued rise in jeonse prices. Due to the tight financial situation of the landlords who started investing in gaps with’spirits’ (short for attracting the soul), the jeonse price is not falling even if the jeonse transaction decreases. Seoul’s jeonse price rose 0.11% this week as well, continuing the upward trend for 84 consecutive weeks.

Mr. C, an office worker who is looking for a chartered house, said, “I saw a 49 pyeong house with a jeonse of 1.2 billion won near Seoul Garak Market Station, but it was not repaired at all, so I could not see it as a 1.2 billion won house.” I heard that the jeonse price cannot be lowered because I made a plan.”

In the midst of a decline in transactions due to the burden of jeonse prices, jeonse prices continue to rise, accumulating jeonse sales. The number of chartered apartments in Seoul as of the previous day was 21,656 as of the previous day, aggregated by the real apartment transaction application’Asil’. The number of chartered sales in Seoul, which reached 50,000 in January last year, reached 8,642 on October 6, the year-round low as landlords collected a large number of chartered sales after August, when the 3rd Lease Act was enforced. Since then, the number of chartered sales has risen gradually, surpassing 20,000 cases again on the 22nd of last month. An official at a real estate sales office near Garak Market Station explained, “These days, large equilibrium investors are trying to receive the maximum amount of jeonse. People who are trying to enter have a high funding burden, so they can’t meet the price, so things are piled up.”

Chartered tenants are being pushed into the anti-war market.

In the statistics of the Seoul Real Estate Information Plaza, the total amount of semi-monthly rent (deposit is 12 to 240 months of monthly rent) and semi-jeonse (deposit exceeds 240 months of monthly rent) totaled 2296 cases, accounting for 44.1% of jeonse. The reverse-trend trading volume compared to the previous year remained at around 30% until the first half of last year. It fell to 32.7% in July, but has been recording more than 40% ever since. This means that there are more tenants looking for a reversal trend while the surge in jeonse prices has seldom subsided.

Mr. D, who is scheduled to get married this fall, said, “I saw a sale of 650 million won for a charter in Mapo-gu, but the price was far exceeding the budget, but I liked it because it was close to the station and the house was clean.” I was thinking because the landlord asked me to pay 700,000 won for a monthly rent if I wanted to sign a contract with reverse tax,” he said.

The landlords who have previously offered jeonse also prefer to turn to the anti-war trend. Due to the amendment of the Lease Act, renters are guaranteed to live for a total of 4 years with the first two-year contract and two-year extension of the contract. As the expected rate of return for landlords who have rented cheonsei has been lowered, there is spreading perception among landlords that it is better to receive a stable monthly rent.

In an apartment complex near Garak Market Station, the charter price of 32 pyeong rose from 500 million to 600 million won only three years ago to 700 million won in July last year. Recently, the chartered property has dried up. This is because the landlords have converted to a reverse trend of 300 million won in jeonse deposit and 1.8 million won in monthly rent.

“Currently, the chartered rent of 750 million won expires in October, but the landlord is asking to change the rent to 500 million won and 2 million won per month,” said Mr. E. “If you do not accept this, you will live and you will live. “I’m in luck and it’s painful.”

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