March Jeonse and Wolse Transaction Volume Increases by 12.7% Compared to Previous Year

▲ March 2020 Jeonse and Monthly Rent Transaction Volume (Provided by the Ministry of Land, Infrastructure and Transport)

[Asia Economy Reporter Lee Chun-hee] The nationwide volume of jeonse and wolse (monthly rent) transactions has recorded levels higher than usual years.

On the 20th, the Ministry of Land, Infrastructure and Transport announced that based on confirmed date data, last month's nationwide jeonse and wolse transaction volume totaled 199,758 cases, a 10.9% decrease compared to 224,177 cases in the previous month. However, compared to 177,238 cases in the same month last year, it increased by 12.7%, and compared to the 5-year average of 171,982 cases, it rose by 16.2%.

As of last month, the cumulative transaction volume of jeonse and wolse this year also recorded 597,514 cases, a 12.1% increase compared to 533,159 cases in the same period last year, maintaining levels above usual years.

Among last month's nationwide jeonse and wolse transactions, the proportion of wolse was 40.7%, down 1.3 percentage points from 42.0% in the same month last year, but up 0.3 percentage points from 40.4% in the previous month. Both jeonse and wolse transaction volumes increased compared to the same month last year, but the increase was larger for jeonse at 15.2% compared to wolse's 9.3%.

By region, the metropolitan area recorded 136,916 transactions, down 8.4% from the previous month but up 16.0% compared to the same month last year. Meanwhile, transactions in provincial areas totaled 62,842, down 15.8% from the previous month but up 6.1% compared to the same month last year. Both regions showed increases of 19.8% and 9.0%, respectively, compared to the 5-year average.

Apartment jeonse and wolse transactions totaled 91,893 cases, down 17.0% from the previous month but up 15.9% compared to the same month last year. Non-apartment transactions totaled 107,865 cases, down 4.9% from the previous month but up 10.2% compared to the same month last year.

Detailed data on housing sales transaction volumes and actual jeonse and wolse transaction prices can be found on the Korea Real Estate Board's Real Estate Statistics System or the Ministry of Land, Infrastructure and Transport's Real Transaction Price Disclosure website.

This content was produced with the assistance of AI translation services.