Monthly rents in the Seoul metropolitan area rise, led by small apartments

According to The Financial News, the National Apartment Monthly Rent Price Index is on an upward trend, with increases in the Seoul metropolitan area outpacing those in non-capital regions. The gap is particularly pronounced for smaller units, which are drawing strong interest from investors.
On the 26th, RealToday, a real estate research firm, analyzed data from the Korea Real Estate Board (KREB) on the National Apartment Monthly Rent Price Index. It found that in December last year, the national index rose 2.29% year-on-year. The Seoul metropolitan area climbed 3.11%, exceeding the national average, while non-capital regions rose only 1.53%. Incheon recorded a 2.89% increase, and Gyeonggi Province was up 2.44%.
By exclusive floor area, the gap between the Seoul metropolitan area and non-capital regions was most evident among smaller units. Apartments of 40 square meters or less in the Seoul metropolitan area saw rents rise 2.58%, and those over 40 up to 60 square meters increased 2.93%. In contrast, comparable units in non-capital regions rose only 1.13% and 1.05%, respectively. For units over 60 up to 85 square meters, the Seoul metropolitan area recorded a 2.54% increase, while non-capital regions were again at 1.05%, more than a twofold difference.
Smaller units were also more popular in the presale market in the Seoul metropolitan area. Last year, 4,151 people applied for 180 units of 40 square meters or less, resulting in an average competition ratio of 23.1 to 1. For units over 40 up to 60 square meters, 214,810 people applied for 7,132 units, producing the highest average competition ratio at 30.1 to 1. In contrast, mid-to-large units saw weaker demand. In the 60 to 85 square meter range, 210,904 applicants competed for 35,693 units, for an average ratio of only 5.9 to 1. For units between 102 and 135 square meters, 6,926 applicants vied for 4,208 units, a ratio of 1.6 to 1, while units over 135 square meters drew 977 applicants for 247 units, or 4.0 to 1.
Price growth was also stronger for smaller apartments. A 49-square-meter unit at Raemian Anyang Megatria in Manan District, Anyang-si, Gyeonggi-do, rose from 549 million won in February last year to 620 million won in December, an increase of 12.93% in just 10 months. A 45-square-meter unit at Pyeongchon Xi I-Park in Dongan District, Anyang-si, Gyeonggi-do, also climbed from 530 million won in April last year to 597 million won in December.
In the Seoul metropolitan area, new presale projects that include small units are being launched one after another. HDC Hyundai Development Company and BS Hanyang are selling Anyang Station Central IPARK Sujain in the 841-5, Anyang 2-dong area of Manan District, Anyang-si, Gyeonggi-do. The project consists of eight buildings from four basement levels to 35 above-ground floors, with a total of 853 units. Of these, 407 units with exclusive areas of 39 to 84 square meters are available for general sale. Located near Anyang Station on Line 1, the complex will be connected to key transport networks in the Seoul metropolitan area, including the Wolgot–Pangyo Line (under construction, targeted to open in the second half of 2029), Great Train eXpress Line C (GTX-C), and the Sinansan Line (under construction). Nearby schools such as Manan Elementary School, Anyang Girls' Middle School, Anyang Girls' High School, Yangmyung High School, and Yangmyeong Girls' High School are all within walking distance, forming a strong education cluster. Access to the Pyeongchon private education district in Anyang, Gyeonggi Province is also excellent.
Kum Sung Baek Joe Housing is currently selling Icheon Jungni B3 Block Geumseong Baekjo Yemiji in the B-3 block of the Jungni Residential District in Icheon-si, Gyeonggi Province. The project comprises 12 buildings from two basement levels to 20 above-ground floors, with a total of 1,009 units of 59 and 84 square meters in exclusive area. Move-in is scheduled for November this year.
DL E&C will launch sales in February for e-Pyunhansesang Dongtan Station Urban One in block C14 of Dongtan 2 New Town in Osan-dong, Hwaseong-si, Gyeonggi Province. The development includes three apartment buildings with 610 units, from four basement levels to 46 above-ground floors, and one residential officetel building with 240 units, from three basement levels to 26 above-ground floors.
POSCO E&C will begin sales in February for The Sharp Singil Central City, located at 413-8 Singil-dong in Yeongdeungpo District, Seoul. The complex consists of 16 buildings from two basement levels to 35 above-ground floors, with a total of 2,054 units ranging from 51 to 84 square meters in exclusive area. Of these, 477 units will be offered for general sale.
ming@fnnews.com Jeon Min-kyung Reporter