"Even a Goshiwon Will Do"... No Rooms Available Near Universities Due to New Semester Demand

"As the vacancy rate has significantly decreased, the monthly rent seems to have increased by about 50,000 KRW on average compared to last year. Originally, there were cases where the landlord bore utility bills like electricity, but as these costs have also risen, landlords are responding that raising the rent does not benefit them." (Representative of A Real Estate Agency, Gwanak-gu, Seoul)

On the afternoon of the 27th, a one-room apartment area near Yonsei University in Seodaemun-gu, Seoul / Photo by Hwang Seoyul chestnut@

On the 28th, after interviewing 10 real estate agencies near university areas such as Kyung Hee University, Korea University, Seoul National University, Yonsei University, and Ewha Womans University, 8 agencies reported that monthly rent increased by at least 20,000 KRW to a maximum of 50,000 KRW compared to the same month last year, except for 2 agencies that said rent was at a similar level as last year. The other two also stated that management fees increased by about 10,000 to 20,000 KRW due to rising utility costs.

According to the real estate platform company Dabang, for a monthly rent deposit of 10 million KRW and an exclusive area of 33㎡ or less, the monthly rent for one-room apartments near Ewha Womans University last month rose by 22.75% compared to the same month last year. The next highest increases were near Yonsei University (13.99%), Seoul National University (12.29%), Kyung Hee University (11.01%), and Korea University (5.67%), in that order.

This is because the demand for monthly rent near universities has exceeded supply as face-to-face classes have become active. A representative from B Real Estate Agency near Yonsei University in Seodaemun-gu, Seoul, said, "Since the second semester last year, face-to-face classes have gradually resumed, and many students signed contracts at that time, so rooms that would normally be vacated by now are still occupied," adding, "The one-room supply ecosystem has changed, and there is a severe shortage of rooms." The representative of nearby C Real Estate Agency also said, "We had to turn away students who came up from Daegu because there were no rooms," and added, "In this supply shortage situation, landlords have raised monthly rent by about 20,000 to 30,000 KRW."

The vacancy rate has also decreased. The representative of A Real Estate Agency said, "If the perceived vacancy rate was about 20% last year, it is now about 10%," and added, "Since places with good conditions are all rented out, a customer looking for a one-room near the school ended up finding one about a 20-minute walk from the school." A representative from D Real Estate Agency near Seodaemun-gu also said, "There are not many listings available right before the semester starts like now," and added, "Some students signed contracts for rooms with monthly rent 100,000 KRW higher than they expected."

One-room hotel signs in the Seodaemun-gu area of Seoul
Photo by Seoyul Hwang chestnut@

As it became difficult to find vacant rooms and monthly rent for one-rooms rose, students who urgently needed a place to stay turned their attention to goshiwons (small dormitory-style rooms). On the university student community app Everytime, a post appeared saying, "I couldn't get into the dormitory, so I'm planning to go to Seoul tomorrow to look for a goshiwon, but it seems there won't be any right near the school," and "I'm asking where there are goshiwons that can be commuted to without transfers."

Goshiwons and one-room hotels also have few vacancies. Kim, who operates a one-room hotel near Kyung Hee University in Dongdaemun-gu, said, "I am responding that there are no vacant rooms." A representative of a one-room hotel near Seodaemun-gu said, "A few vacant rooms might come out around March," and added, "After being fully occupied, we plan to raise prices back to pre-COVID levels."

There are calls for local governments and universities to secure housing where students can stay at reasonable prices. Kim Ga-won, an activist from Mindalpaengi Union, said, "Insufficient dormitories are a cause of excessive housing burdens for young people," and added, "Local governments should help schools with dormitory expansion plans to supply smoothly without opposition from residents." He further stated, "It is not just about increasing supply, but also the government's role to increase public rental housing at levels affordable for young people."

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