The average monthly rent for smaller studio units in Seoul — commonly called "one room" here — was 730,000 won ($525) for July, up 7.9 percent from June to mark the highest on-month increase so far this year.
According to an analysis by local real estate platform Dabang, the rise amounts to a 53,000-won jump from the previous month. The data focused on 33-square-meter studio units with a 10 million-won deposit, the most popular housing type among single-person households in South Korea.
Mapo-gu, a western Seoul district populated by many young residents living in small apartments, saw the steepest increase of 22.4 percent to 880,000 won a month. It was the second-most expensive region to live in a studio apartment, after 940,000 won in Gangnam-gu.
A total of seven districts, including Yongsan-gu (870,000 won), Seocho-gu (810,000 won), Seongdong-gu (790,000 won), Geumcheon-gu (760,000 won), and Gwangjin-gu (730,000 won), were more expensive or equal to the Seoul-wide average.
The affluent regions south of the Han River, or in Gangnam, are known for having some of the highest housing prices in the country. A July report by another real estate market tracker showed that apartments in the three Gangnam districts — Gangnam-gu, Seocho-gu, and Songpa-gu — accounted for 43 percent of the value of all apartments in Seoul.
minsikyoon@heraldcorp.com
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