Housing Situation for Newly Married Couples in Seoul
(Source: Ministry of Land, Infrastructure and Transport (2014), Panel Survey on Newly Married Couple Households)
▶ Newly married couples in Seoul live in homes with an average floor area of 72.7 square meters; 44.6 percent of newly married couples live in apartments or residential complexes.
In 2014, newly marries couples (married for less than five years) in Seoul lived in homes with an average floor area of 72.7 square meters, which is smaller than the national average of 80.1 square meters and the average for the Seoul Metropolitan Area of 76.5 square meters. By housing type, most couples, about 44.6 percent, lived in apartments and residential complexes, followed by multiplex housing and townhouses at 36.7 percent and detached homes and multi-household housing at 16.4 percent.
▶ Two out of three newly married couples (63.5 percent) live in leased housing; about half of leased housing (49.3 percent) costs between KRW 100 and 200 million.
By housing type for newly married couples living in Seoul in 2014, most couples, about 63.5 percent, lived in leased housing, followed by owned housing at 21.4 percent, free housing (living with parents, company housing, official residences, etc.) at 8.1 percent, and monthly rental housing (including half-leased housing) at 7.0 percent. As for homeowners, 44.5 percent answered that their homes cost between KRW 200 and 300 million (average of KRW 270 million), while 49.3 percent of leased housing residents paid between KRW 100 and 200 million as their housing deposit (average of KRW 140 million). Residents of monthly rental housing requiring deposits paid an average of KRW 75 million for the deposit with an average monthly rent of KRW 320,000.
▶ If the deposit for their current leased housing were to increase, 24.1 percent of newly married couples would move to different housing; acceptable increase of deposit found to be between KRW 10 and 20 million
If the deposit for a newly married couple’s current leased housing were to increase, three out of five households (62.8 percent) answered that they would decide whether to renew their lease or move to different housing after they were informed of the specific amount by which their deposit is to increase. Among these, 31.4 percent answered that they would accept a deposit increase of between KRW 10 and 20 million. Moreover, 24.1 percent of newly married couples answered they would move to different housing if the owner of their current residence were to raise the deposit amount.