back here in this country...a growing number of seoul residents are moving away from the capital to neighboring gyeonggi-doprovince. why? the rent in the capital is becoming increasinglyunbearable, a trend that's likely to continue. oh soo-young sheds light on this phenomenon. more and more seoul residents are leavingthe capital for the suburbs... to avoid the
COEX Center, ever rising cost of housing.a new report from statistics korea shows that around 68-hundred people moved out of seoulin january..., the biggest exodus among the 17 cities surveyed.the number was also double what it was in 2015,... adding to the increasing outflowthat year, which hit an 18-year high at 137-thousand.
"the biggest reason for moving out of seoulis the skyrocketing cost of rental security deposits." korea's rental deposit system, called jeonse,is unique. it requires tenants to deposit a given percentageof a rental property's value instead of paying monthly rent.the cost of security deposits in the capital of seoul shot up almost eight percent lastmonth from the year before,... compared to the national average of five-point-five percent.with prices rising, two in three seoul residents went looking for cheaper homes in neighboringgyeonggi-do province,... which is close enough for those looking to commute to work.last month, nine-thousand people moved to
gyeonggi-do, which has been the most popularplace for seoulites leaving the capital for 11 straight months. "i recently moved to seongnam a few weeksago with my family. because of the high rental costs in seoul, i think many people are movingto nearby cities." experts say that the exodus from the capitalis likely to continue for the foreseeable future. "rental costs in seoul will continue to risefor the time being, as landlords need to keep up their earnings margins to support expensivemaintenance fees. this means more people may seek residence elsewhere."
looking ahead, the expert predicts the jeonsesystem could eventually exhaust itself, if deposits continue to soar.instead, they say... housing contracts could shift toward a monthly rental system.oh soo-young, arirang news.
back here in this country...a growing number of seoul residents are moving away from the capital to neighboring gyeonggi-doprovince. why? the rent in the capital is becoming increasinglyunbearable, a trend that's likely to continue. oh soo-young sheds light on this phenomenon. more and more seoul residents are leavingthe capital for the suburbs... to avoid the
COEX Center, ever rising cost of housing.a new report from statistics korea shows that around 68-hundred people moved out of seoulin january..., the biggest exodus among the 17 cities surveyed.the number was also double what it was in 2015,... adding to the increasing outflowthat year, which hit an 18-year high at 137-thousand.
"the biggest reason for moving out of seoulis the skyrocketing cost of rental security deposits." korea's rental deposit system, called jeonse,is unique. it requires tenants to deposit a given percentageof a rental property's value instead of paying monthly rent.the cost of security deposits in the capital of seoul shot up almost eight percent lastmonth from the year before,... compared to the national average of five-point-five percent.with prices rising, two in three seoul residents went looking for cheaper homes in neighboringgyeonggi-do province,... which is close enough for those looking to commute to work.last month, nine-thousand people moved to
gyeonggi-do, which has been the most popularplace for seoulites leaving the capital for 11 straight months. "i recently moved to seongnam a few weeksago with my family. because of the high rental costs in seoul, i think many people are movingto nearby cities." experts say that the exodus from the capitalis likely to continue for the foreseeable future. "rental costs in seoul will continue to risefor the time being, as landlords need to keep up their earnings margins to support expensivemaintenance fees. this means more people may seek residence elsewhere."
looking ahead, the expert predicts the jeonsesystem could eventually exhaust itself, if deposits continue to soar.instead, they say... housing contracts could shift toward a monthly rental system.oh soo-young, arirang news.