Real-Residence Deferral Raises Seoul Jeonse Supply Concerns in Two Years

Attention is growing over how the deferral of real-residence obligations for nonresident single-home owners in land transaction permit zones will affect Seoul’s jeonse rental market. The government sees the measure as potentially helpful for reviving housing transactions, but concerns remain in Seoul, where jeonse listings have already declined. The Ministry of Land, Infrastructure and Transport says the total volume of jeonse supply will not change even if the residence obligation is deferred. Still, when the two-year deferral period ends, the possibility of owners moving in themselves is being cited as a market variable. The measure may lower barriers to transactions, but unease could persist in areas with strong jeonse demand. Source: mk.co.kr