Jeonse in Jamsil approaches levels seen in Daechi-dong

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Jeonse in Jamsil approaches levels seen in Daechi-dong

Jeonse prices in Jamsil, southeastern Seoul, have edged closed to those in the upper-class neighborhood of Daechi-dong in southern Seoul.

According to Budongsan 114, a real-estate information provider, the average jeonse, or long-term deposit, in Jamsil is now 97 percent of that in Daechi-dong. This is a sharp increase from five years ago when jeonse prices in Jamsil were just 72 percent of those in Daechi-dong. Budongsan 114 said jeonse prices in Jamsil have gone up sharply as the apartments in the neighborhood are newer than those in other Gangnam areas, which has increased demand. A realtor in Jamsil said that while real estate transactions in other parts of Seoul are lagging, they are still active in Jamsil.
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