Seoul's housing market consumer sentiment index reached 130.9 in June, up 1.0 point from May's 129.9, according to a real estate market consumer sentiment survey released by the Korea Research Institute for Human Settlements on the 15th. The increase represents a slowdown from May's 7.7-point gain, but the index remains firmly in an upward phase above the baseline of 100. The sustained strength comes as Seoul's sales market sentiment continues its strong run, while rental shortages deepen across the metropolitan area with demand vastly outpacing supply. An index above 100 indicates more respondents reported rising prices or increased transactions, with readings above 115 classified as an upward phase.
Seoul Sales Market Reaches 138.0 as Rental Index Dips to 123.8
Seoul's housing sales market consumer sentiment index rose to 138.0 in June, up 2.4 points from the previous month. The city's rental market index stood at 123.8, down 0.4 points from May. The combined housing market sentiment index of 130.9 reflects the ongoing strength in sales activity despite the slight softening in rental sentiment.
![June Metropolitan Area Housing Market Consumer Sentiment Index]()
June Metropolitan Area Housing Market Consumer Sentiment Index [Source: Korea Research Institute for Human Settlements]
By region, the metropolitan area index reached 123.4, up 1.3 points, maintaining its upward phase. The non-metropolitan area index rose 1.0 point to 107.3 but remained in a stabilization phase for the second consecutive month. The nationwide index climbed 1.0 point to 115.9, entering an upward phase.
Regional Markets Show Sharp Gains in Busan and Gyeongnam
Regional markets outside Seoul demonstrated notable increases in consumer sentiment. In the housing sales market, Busan recorded a 7.3-point gain, Gyeongnam rose 7.3 points, and Chungnam increased 7.2 points. For rental markets, Incheon in the metropolitan area led with a 4.2-point increase, followed by Gyeongnam at 4.0 points and Gyeongbuk at 2.0 points.
Gwangju's land market consumer sentiment index, where military airport areas were recently designated as land transaction permit zones, rose 6.8 points to 83.1, recording the second-largest increase nationwide.
![Nationwide Housing Market Consumer Sentiment Index (Left: May, Right: June)]()
Nationwide Housing Market Consumer Sentiment Index (Left: May, Right: June) [Source: Korea Research Institute for Human Settlements]
Rental Demand Overwhelms Supply Across Metropolitan Area
Market conditions tracked through real estate agencies revealed a persistent supply-demand imbalance in the rental sector. In Seoul, 68.4% of respondents reported that "people seeking rentals were somewhat or much more numerous," vastly exceeding the 7.8% who said "people offering rentals were somewhat or much more numerous." The proportion reporting "people offering rentals were much more numerous" stood at just 0.1%.
The rental shortage extended across the metropolitan area, with Incheon recording 69.9% of responses indicating strong rental demand and Gyeonggi at 61.3%. The figures confirm widespread rental scarcity throughout the capital region.
FAQ
What was Seoul's housing market consumer sentiment index in June?
Seoul's housing market consumer sentiment index reached 130.9 in June, up 1.0 point from May's 129.9, according to the Korea Research Institute for Human Settlements survey released on the 15th.
How severe is the rental shortage in the Seoul metropolitan area?
In Seoul, 68.4% of real estate agency respondents reported more people seeking rentals than offering them, compared to only 7.8% reporting more rental supply. Incheon showed 69.9% rental demand dominance and Gyeonggi 61.3%, confirming widespread rental scarcity across the metropolitan area.
