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Jeonse Index Indicating Supply Shortage Hits 19-Yr High

Write: 2020-10-31 14:11:04Update: 2020-10-31 14:44:46

Jeonse Index Indicating Supply Shortage Hits 19-Yr High

Photo : YONHAP News

The shortage of "jeonse" rental homes is intensifying in South Korea and an indicator of their short supply has reached the highest level in 19 years.

According to data on monthly housing trends released by Kookmin Bank on Saturday, the nationwide jeonse supply and demand index rose more than four points in the month of October to 191-point-one, the highest since August 2001.

The index is measured through a survey of realtors and a high figure means there are not enough jeonse rental homes in the market compared to demand.

The index has been on a steady rise this year and reached 160 in May and 180 in August.

Jeonse is a Korean-style deposit lease that differs from monthly rent.

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