Housing leases in korea

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Sep 13, 2011 19:16
Theseday housing leases in korea is skyrocketing
Home lenters have the option of picking either 월세 or 전세
월세 is paying a deposit before moving in and pay monthly rent every month
전세 is paying a large deposit at time to start contract and no paying monthly rent
Late 2008, at the beginning of global ressesion, 전세price didn't move anywhere but after early 2009, 전세price have risen sharply
One of the most important thing is their's a lack of homes in comparison to the demand
Home owner want to contract 월세 because 월세 is more lucrative than 전세
This situation makes vicious cycle.
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