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  • hangook77
  • The Legend

    • 3242

    • September 14, 2017, 09:10:12 am
    • Near Busan
What happened to rental deposits in Seoul?
« on: June 07, 2021, 02:11:50 pm »
What happened to rental deposits in Seoul?

Haven't looked for a while.  Just looked on the apps out of curiosity.  It looks like many places have switched to western style rental system with one month rent for deposit and same rent but quite high. 

I thought Koreans liked the high deposits and cheap monthly rents or no rents.  There look to be some high deposits, but insanely high like 500 or 600 plus million won and no monthly rent (granted some of those villas look really quite nice and modern). 

The rest of the country still looks to be on the deposit system.  I guess if you work for SMOE, that 500 thousand won a month rent subsidy won't cut it for you anymore unless you want to live in a dump.


Of course I am referring to if you want more than a one room but even those are overpriced up there it seems.  The SMOE should double their housing allowance and Maybe GEPIK too (maybe 800 or 900K).  Seems even the one rooms are getting close to 1 million won a month with no option for a bigger deposit. 

Did Koreans not protest or kick up a storm.  I had heard years ago, they tried to get rid of the deposit system and Koreans protested and they had to back down.  What happened now?  Quite shocking.  I mean it seems an insult on top of a 2.1 or 2.2 million salary.  You'll be really poor in Seoul now. 

https://www.zigbang.com/home/oneroom/map

(I mean even if you marry and teach extra classes on an F Visa, the high living costs will totally kick you in the balls and will more than cancel out any extra money you would make picking up some extra teaching.  It wouldn't seem worth it to me to live up there and teach.  Am I missing something?  It seems way worse than I thought.)


  • OnNut81
  • The Legend

    • 2019

    • April 01, 2011, 03:01:41 pm
    • Anyang
Re: What happened to rental deposits in Seoul?
« Reply #1 on: June 07, 2021, 02:22:02 pm »
In conjunction with some of the places charging higher rent with a one month deposit, the government has now okayed commuting to work.  So, some people are able to teach in Seoul but live outside of the city in areas that are more affordable.  It's a game changer. 


Re: What happened to rental deposits in Seoul?
« Reply #2 on: June 07, 2021, 02:27:13 pm »
Did you even look at your own resource? There's lots of those rents around Seoul. You just were looking at Gangnam.


  • hangook77
  • The Legend

    • 3242

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: What happened to rental deposits in Seoul?
« Reply #3 on: June 07, 2021, 02:37:46 pm »
From what I saw, that's a lot of money spent on commuting.  Looks like you would have to move really far. 

On the other hand a one million won rent with a reasonable deposit (or negotiate a higher deposit and a bit of a lower rent you could get much much more than you would get in Seoul.  But would have to be hours away from Seoul. ) https://www.dabangapp.com/room/60bca60f9015f105fd1ea22d

https://www.dabangapp.com/room/60b3339ca5cc8932ecd113f6

https://www.dabangapp.com/room/609b4405932faa1d145bd6bb

https://www.dabangapp.com/room/60bd7be49fb7863225f17965

https://www.dabangapp.com/room/60b6765b4630020afc574545

https://www.dabangapp.com/room/60ab5161a362826b1d2e5d8b

https://www.dabangapp.com/room/60bd8f5b37bc794ba2d6f90a

Random from around the country.  Modest prices but much much more value. 


  • Lazio
  • Expert Waygook

    • 563

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: What happened to rental deposits in Seoul?
« Reply #4 on: June 08, 2021, 10:03:03 am »
Plenty of jeonse still. Although the share of monthly rental places increased recently. The reasons explained here:

http://m.theinvestor.co.kr/view.php?ud=20210607000970


  • pkjh
  • The Legend

    • 2075

    • May 02, 2012, 02:59:44 pm
    • Asia
Re: What happened to rental deposits in Seoul?
« Reply #5 on: June 08, 2021, 11:29:17 am »
In conjunction with some of the places charging higher rent with a one month deposit, the government has now okayed commuting to work.  So, some people are able to teach in Seoul but live outside of the city in areas that are more affordable.  It's a game changer. 
So if you took the school's housing, it had to be within the school's jurisdiction?


  • OnNut81
  • The Legend

    • 2019

    • April 01, 2011, 03:01:41 pm
    • Anyang
Re: What happened to rental deposits in Seoul?
« Reply #6 on: June 08, 2021, 11:53:07 am »
So if you took the school's housing, it had to be within the school's jurisdiction?

I was being facetious based on Hangook's assertion that "You'll be really poor in Seoul now." as if the universal practice of commuting wasn't available to anyone working in Seoul.  Pretty sure those packed subways I'm on in the morning are full of people that make the morning commute into the city in order to live someone more affordable.  Happens the world over.  If rent is too high near someones workplace they move to where they can afford.  Simple. 


  • hangook77
  • The Legend

    • 3242

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: What happened to rental deposits in Seoul?
« Reply #7 on: June 08, 2021, 12:12:50 pm »
I was being facetious based on Hangook's assertion that "You'll be really poor in Seoul now." as if the universal practice of commuting wasn't available to anyone working in Seoul.  Pretty sure those packed subways I'm on in the morning are full of people that make the morning commute into the city in order to live someone more affordable.  Happens the world over.  If rent is too high near someones workplace they move to where they can afford.  Simple. 

If SMOE gives me travel allowance or a rent allowance increase to compensate so be it.  I just don't understand why people want to do it,  It's not for me.  I'd live and work elsewhere.  Guess some folks are so desperately attracted to those big city lights and they'll even be poor to do it.  Not worth it to me.  Travelling over an hour to work home and back ain't my cup of tea.  Just drop the prices or give me a raise.  Mostly all I saw including in Itaewon were some very very tiny one rooms for 10 million deposit and still too high rent or no deposit and very high rent.  I thought Koreans liked the deposit system and they had in the past fought to keep it.  Now, it's gone?  At least in Seoul. 

Anyways, I wouldn't do it. 


  • leaponover
  • Expert Waygook

    • 752

    • March 05, 2012, 12:08:16 pm
    • Iksan, S. Korea
Re: What happened to rental deposits in Seoul?
« Reply #8 on: June 08, 2021, 12:18:31 pm »
I find it interesting how many people complain about low salary and housing costs in Seoul.  But the second someone offers them a job outside of Seoul paying more they say, "No, I only want the Seoul area."  That's what you punks get for demanding access to Taco Bells every day.


Re: What happened to rental deposits in Seoul?
« Reply #9 on: June 08, 2021, 12:25:42 pm »
hangook77 is probably one of those posters who is baffled as to why people live in apartments in big cities that cost a ton of money when instead Seoul could just bulldoze all of those ugly apartment blocks and build suburban houses that cost only 250 million and house everyone that way.


  • hangook77
  • The Legend

    • 3242

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: What happened to rental deposits in Seoul?
« Reply #10 on: June 08, 2021, 12:29:57 pm »
hangook77 is probably one of those posters who is baffled as to why people live in apartments in big cities that cost a ton of money when instead Seoul could just bulldoze all of those ugly apartment blocks and build suburban houses that cost only 250 million and house everyone that way.

No, I'm just smart enough to live where I make more and can pay cheaper rents and deposits.  Once that stops, I move on. 


Re: What happened to rental deposits in Seoul?
« Reply #11 on: June 08, 2021, 01:02:26 pm »
No, I'm just smart enough to live where I make more and can pay cheaper rents and deposits.  Once that stops, I move on. 
And if you are fine with a suburban/rural lifestyle and amenities, and also the lack of advancement potential and lack of cultural events and such, that's great.


  • Lazio
  • Expert Waygook

    • 563

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: What happened to rental deposits in Seoul?
« Reply #12 on: June 08, 2021, 02:06:04 pm »
I thought Koreans liked the deposit system and they had in the past fought to keep it.  Now, it's gone?  At least in Seoul. 

What are you talking about?

No one fought for anything.
Nothing is gone. If you read the article you would see that 66% of rental contracts between Aug. 2020 and May 2021 were jeonse in Seoul. Does that seem ''gone'' to you?


  • hangook77
  • The Legend

    • 3242

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: What happened to rental deposits in Seoul?
« Reply #13 on: June 08, 2021, 03:02:40 pm »
What are you talking about?

No one fought for anything.
Nothing is gone. If you read the article you would see that 66% of rental contracts between Aug. 2020 and May 2021 were jeonse in Seoul. Does that seem ''gone'' to you?

Most of the villas I posted from the app above showed higher monthly rent and no deposits - just one month's rent.  That was the trend I noticed online at least Seoul and Gyeonggi near Seoul.  Seems like the majority of the listings, except for a very tiny one room. 


  • Lazio
  • Expert Waygook

    • 563

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: What happened to rental deposits in Seoul?
« Reply #14 on: June 08, 2021, 03:09:57 pm »
You clearly didn't search properly. This map shows only jeonse listings.


  • hangook77
  • The Legend

    • 3242

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: What happened to rental deposits in Seoul?
« Reply #15 on: June 08, 2021, 03:24:18 pm »
I'm either seeing small deposits and really high rent like over 1 million won for something small per month or monthly rent with one month rent deposit. 

For example.

월세 120/120 만원  (One room)

월세 250/250 만원 (something bigger)

전세 3억2000만원 (5 to 10 pyeong)

월세 2000/89만원 (a one room but with maintenance fees is actually 92 만원 total)

전세 3억6000만원 (a two room at the edge of Seoul though a very nice modern one, I must add.)

월세 1000/90 만원 (with fees comes to 108 per month and is a 22 meter office tel.  Quite small.) 

월세 135/135 (another office tel that is slightly larger)

전세 6억7900만원  (a three room with some space in Seoul you seem screwed)

월세 2000/40만원 (an 18 meter one room - insane.)


Anyways, I did say I saw impossible rents in or near Seoul outside of a tiny one room (those being the exception though way more than out here in the provinces).

https://www.dabangapp.com/search/map?filters=%7B%22multi_room_type%22%3A%5B1%2C2%5D%2C%22selling_type%22%3A%5B0%2C1%2C2%5D%2C%22deposit_range%22%3A%5B0%2C999999%5D%2C%22price_range%22%3A%5B0%2C999999%5D%2C%22trade_range%22%3A%5B0%2C999999%5D%2C%22maintenance_cost_range%22%3A%5B0%2C999999%5D%2C%22room_size%22%3A%5B0%2C999999%5D%2C%22supply_space_range%22%3A%5B0%2C999999%5D%2C%22room_floor_multi%22%3A%5B1%2C2%2C3%2C4%2C5%2C6%2C7%2C-1%2C0%5D%2C%22division%22%3Afalse%2C%22duplex%22%3Afalse%2C%22room_type%22%3A%5B1%2C2%5D%2C%22use_approval_date_range%22%3A%5B0%2C999999%5D%2C%22parking_average_range%22%3A%5B0%2C999999%5D%2C%22household_num_range%22%3A%5B0%2C999999%5D%2C%22parking%22%3Afalse%2C%22animal%22%3Afalse%2C%22short_lease%22%3Afalse%2C%22full_option%22%3Afalse%2C%22built_in%22%3Afalse%2C%22elevator%22%3Afalse%2C%22balcony%22%3Afalse%2C%22loan%22%3Afalse%2C%22safety%22%3Afalse%2C%22pano%22%3Afalse%2C%22deal_type%22%3A%5B0%2C1%5D%7D&position=%7B%22location%22%3A%5B%5B126.9708525%2C37.4452622%5D%2C%5B127.1768462%2C37.5324356%5D%5D%2C%22center%22%3A%5B127.0738493%2C37.4888616%5D%2C%22zoom%22%3A13%7D&search=%7B%22id%22%3A%22%22%2C%22type%22%3A%22%22%2C%22name%22%3A%22%22%7D&tab=all






  • hangook77
  • The Legend

    • 3242

    • September 14, 2017, 09:10:12 am
    • Near Busan
Re: What happened to rental deposits in Seoul?
« Reply #16 on: June 08, 2021, 03:27:07 pm »
Want to get married and have a family in Seoul on an ESL salary?  Good luck.  Even with privates and a few gigs making 4 or 5 million a month of you can get it, doesn't seem worth it to me.  Those rents or mortgage payments will eat all that and more.  But, to each their own. 


  • Lazio
  • Expert Waygook

    • 563

    • January 27, 2018, 03:56:10 pm
    • Gyeongi-do
Re: What happened to rental deposits in Seoul?
« Reply #17 on: June 08, 2021, 09:50:21 pm »
Want to get married and have a family in Seoul on an ESL salary?  Good luck.  Even with privates and a few gigs making 4 or 5 million a month of you can get it, doesn't seem worth it to me.  Those rents or mortgage payments will eat all that and more.  But, to each their own. 

Not sure if you are trying to justify your choice of living out in the country, or if it's one of the usual ''Korea is bad so you better go to China and that way I can hope for a salary bump'' attempt. Either way, there are still many options for affordable housing in and around Seoul.
Or, laugh all the way to the bank if you are on the other side of the fence and own a place.

There is also the option to move back home (yes, you read it right! home and not China) and start a different career path. Shocking, I know but I heard that it is actually allowed now to leave the teaching field. I thought once you set your foot in a classroom, you will have no choice but to continue teaching untill retirement. But apparently it's not true. I dunno, I will have to confirm it with more people.
« Last Edit: June 08, 2021, 10:18:46 pm by Lazio »


  • tylerthegloob
  • The Legend

    • 2347

    • September 28, 2016, 10:46:24 am
    • Busan
    more
Re: What happened to rental deposits in Seoul?
« Reply #18 on: June 09, 2021, 07:53:16 am »
lol did van just delete his own post and 1nuts response?
more gg more skill


  • Mr C
  • The Legend

    • 2626

    • October 17, 2012, 03:00:40 pm
    • Seoul
Re: What happened to rental deposits in Seoul?
« Reply #19 on: June 09, 2021, 07:53:56 am »
lol did van just delete his own post and 1nuts response?
And mine too, I guess.  Posted about one minute ago.