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Koreans See Apartment Rental Prices Soar Updated: 2012-12-25 00:00:00 KST

It will take nearly five years for an average household in Korea to save up the money needed to rent a 84-square-meter apartment in Seoul and that's without spending ANY money during that period.
According to a report by real estate research firm Real Today on Tuesday, the average jeonse price for an 84-square-meter apartment in Seoul is 220-thousand dollars.
Jeonse is a housing rental system unique to Korea that requires renters to pay a large lump-sum deposit on a rental property.
And according to Real Today, jeonse prices for apartments have been skyrocketing with a recent surge in demand taking an average household that brings in about 48 thousand dollars a year, FIVE years to earn enough to rent that 84-square-meter apartment.
KOGL : Korea Open Government License
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