In a Tough Rental Market, People in Their 30s Rush to Buy Homes... 'First Home in Seoul' Hits a 58-Month High

A woman in her 30s, identified as A, had been looking for a jeonse rental in Seoul after getting married. But with listings sharply down from a year earlier, she eventually bought an apartment in an outer district of the city. "I decided because I was told this was a good opportunity for people without homes," A said. "Still, I feel relieved knowing I have secured a home of my own."
The number of people in their 30s who completed registration after buying their first property in Seoul in March hit the highest level in 58 months, data showed. Purchases were concentrated in districts popular with newlyweds, including Gangseo District and Nowon District. With prices lower than in Gangnam and the Han River Belt, and regulations relatively lighter, many buyers appear to have rushed in, viewing the shrinking rental market as their "last chance."
According to the Court Registration Information Plaza on the 19th, 3,752 people in their 30s registered their first home in Seoul in March, the most since 4,208 in May 2021. Ownership transfer registration is generally completed within 60 days after the final payment.
A district-by-district review of the 3,752 cases showed that outer districts of Seoul dominated the rankings. Gangseo District recorded the most registrations at 301, the only district among the city's 25 to top 300. The second through fifth spots were also all outside the center. Nowon District came in second with 278, followed by Seongbuk District with 258, Guro District with 233 and Yeongdeungpo District with 226.
Among the three Gangnam districts, Songpa District, which has relatively lower prices, had the most with 197 cases. Gangnam District and Seocho District recorded 101 and 74 cases, respectively.
Analysts say the buying spree is being driven by the shrinking jeonse market. According to the real estate platform, Seoul had 15,427 jeonse listings as of the 17th, down more than 44% from 27,977 a year earlier. Monthly rental listings are barely holding above 15,000.
The reasons buyers are flocking to outer Seoul include undervalued areas in the city, relatively fewer regulations and a high share of small units. Woo Byung-tak, a senior analyst at Shinhan Premier Pathfinder, said, "The top five districts with the most registrations by people in their 30s were places where price gains over the past one to two years were smaller than in the three Gangnam districts." He added, "Buyers may have viewed these areas as undervalued within Seoul."
Another factor was that these areas were more accessible because they were somewhat freer from regulations and offered lower prices than central districts. Buyers can currently borrow up to 600 million won in mortgage loans when purchasing homes priced at 1.5 billion won or less, and properties in that price range are still available in these districts. The large number of small units also played a major role. A real estate industry official said, "In particular, many apartments in the Gangseo area were built with exclusive floor areas of around 41 square meters," adding, "That means the area is highly preferred by people in their 30s and newlywed couples."
Meanwhile, the number of people in their 30s completing registration for their first home in Seoul has risen sharply since 2023. The annual average was 1,279 in 2023, but that figure climbed to 1,858 in 2024, 2,540 in 2025 and 3,511 in the first quarter of 2026.
kjh0109@fnnews.com Kwon Jun-ho Reporter