The average monthly rent for a one-room unit in Seoul's Gangnam district reached 970,000 won in July, about 41% higher than the citywide average of 690,000 won, and the highest among the capital's 25 districts for the 14th consecutive month.
Average monthly rent for one-room units in low-rise multi-unit housing of 33 square meters or less came to 690,000 won in July, based on a deposit of 10 million won, according to an analysis by real estate platform Dabang released on the 1st. The average jeonse deposit, a lump-sum deposit lease, stood at 219.36 million won over the same period.
By district, Gangnam recorded the highest average monthly rent at 970,000 won, holding its position as Seoul's most expensive district for one-room rents for a 14th straight month. That is roughly 1.4 times the citywide average of 690,000 won.
Yongsan followed at 870,000 won, then Seongdong at 820,000 won, Gwanak at 810,000 won, Mapo at 770,000 won and Seocho at 750,000 won. Gwangjin and Jungnang each came in at 740,000 won, and Dongdaemun at 730,000 won.
In the jeonse market, Seocho posted the highest deposits. The district's average jeonse deposit was 272.35 million won, about 24% above the Seoul average of 219.36 million won.
Gangnam ranked next at 268.2 million won, followed by Jung at 256.64 million won, Yongsan at 251.98 million won, Gwangjin at 232.49 million won, Songpa at 226.78 million won and Dongjak at 221.83 million won.
"In July, the average jeonse deposit in Seoul's low-rise multi-unit one-room market edged down while average monthly rent rose by more than 6%, showing the two markets moving in different directions," a Dabang official said.
