Seongdong-gu Good Half-Price Brokerage Fee: 10.58 Million KRW Benefit for Single-Person Households

Number of Beneficiaries Rises Over 1.5 Times in 6 Months, 22% of 195 Participating Agencies... 99 Households in the Area Benefit from Total Brokerage Fees of 10,582,000 KRW through 'Half-Price Brokerage Fee Service'

[Asia Economy Reporter Park Jong-il] Seongdong-gu (Mayor Jung Won-oh)'s 'Half-Price Brokerage Fee Service' has benefited 99 households in the area with a total brokerage fee savings of 10,582,000 KRW.

The number of beneficiaries of the half-price brokerage fee service increased significantly from 28 cases until August last year to 71 cases, rising more than 1.5 times in six months. Currently, 195 brokerage offices participate in the service project, accounting for over 22% of the approximately 860 licensed real estate agents operating in the area.

The continuous benefits and establishment of the 'Half-Price Brokerage Fee Service' in the region are the result of active efforts by the district office and brokerage offices working together to provide a stable housing environment for local university students and single-person households, according to a district official.

Seongdong-gu, the first in the nation to introduce the 'Half-Price Brokerage Fee,' is a talent donation service carried out through the voluntary participation of brokerage offices. It was first launched in May 2019 targeting female students at Hanyang University (Women). Since single-person households account for 42.4% of all households in the area, the district expanded the service target to single-person households in August last year and actively supported reducing their housing cost burden.

Newly opened and relocated brokerage offices are encouraged to participate voluntarily, and the district office, Hanyang University (Women), the student council website, and community centers post lists of participating brokerage offices to promote active use. Inside and outside participating brokerage offices, 'Talent Donation Brokerage Office Certificates' and 'Talent Donation Information Boards' are displayed so that users can easily recognize them.

The brokerage scale applicable to the 'Half-Price Brokerage Fee Service' is for jeonse and monthly rent deposits under 100 million KRW. For example, in the case of a monthly rent deposit of 30 million KRW and a monthly rent of 500,000 KRW, the legal brokerage fee is 300,000 KRW, but paying 150,000 KRW, which is half the price, to the corresponding brokerage office is sufficient. The district plans to continue actively encouraging the talent donation of kind brokers to overcome difficult times with beneficiaries and contribute to establishing a culture of regional coexistence.

Jung Won-oh, Mayor of Seongdong-gu, said, "I sincerely thank the representatives of licensed real estate offices who participated in social contribution through voluntary talent donation," and added, "We will continue to try various policy measures to reduce the high housing cost burden on the younger generation."

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