A restaurant owner puts up a banner in Cheongra-dong of Seo District, Incheon, thanking the landlord for lowering rent during the coronavirus pandemic and advertising a sale on Wednesday afternoon.
As real estate prices in Seoul rise, people are flocking to Gyeonggi to buy apartments.
As real estate regulations have made it increasingly difficult for people to live in apartments by paying jeonse long-term deposits, monthly rent in Seoul is on the rise.
As a standing committee passed the tenant protection law Wednesday, the real estate market is seeing a massive shortage in supply of such properties, pushing the price up for 52 consecutive weeks.
Korea JoongAng Daily Sitemap