Gangwon Apartment Jeonse Prices Exceed Real Estate Boom Era Due to Loan Regulations

Gangwon Lease Deposits Surpass Real Estate Boom Peaks

Average apartment lease deposits across Gangwon Province reached 1억4,181만원 in August 2026, according to the “August 2026 National Housing Price Trend” report published by the Korea Real Estate Board. That figure marks an increase of 2,675만원 compared to the average deposit of 1억1,506만원 recorded during the same month in 2020, when home prices surged across the region. Chuncheon posted the highest average lease deposit in the province at 1억9,523만원, representing a jump of nearly 5,000만원 since 2020. Gangneung followed at 1억5,513만원, while Wonju recorded an average lease deposit of 1억5,304만원.

Shrinking Rental Inventory Drives Up Monthly Transaction Prices

The surge in lease deposits stems from a severe shortage of available rental inventory caused by tighter lending rules. Data from real estate big data platform Asil shows that apartment lease listings in Gangwon totaled 1,776 as of September 25, 2026, marking an 8.3 percent drop over a single month. That contraction rate ranks as the second largest nationwide, trailing only Jeju at 11 percent. Actual transaction prices in the rental market reflect the inventory crunch, jumping by tens of millions of won within weeks. A lease agreement for an apartment spanning 84 square meters in Chuncheon traded at 3억8,000만원 in September 2026, up from 3억2,000만원 on August 27. Similar apartments in Sokcho and Wonju also saw lease transaction prices spike by 6,000만원 over the same one-month period.

Rising Mortgage Rates Amplify Financial Strain on Tenants

As lease values climb rapidly, borrowing costs for homebuyers and tenants alike are nearing the 7 percent threshold, compounding financial pressure on households. Financial sector data from September 23, 2026, shows that five major commercial banks—KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup—offered 5-year fixed-rate mortgage loans ranging from 4.90 percent to 6.88 percent. Following the October 15 measures, lending has been tightened and purchasing homes while carrying a lease has also become difficult, intensifying increases in jeonse and monthly rent prices alongside market anxiety, said Park Won-gap, senior real estate specialist at Kookmin Bank, emphasizing the need for countermeasures to calm market instability.