The cost of renting a house in South Korea varies depending on the location and type of accommodation. In general, the cost of renting a house in South Korea’s major cities, such as Seoul, is higher than in smaller cities or rural areas.
- In Seoul, the average monthly rent for a one-bedroom apartment in the city center is around KRW 900,000 (about $800 USD)
- In Busan, the average monthly rent for a one-bedroom apartment in the city center is around KRW 600,000 (about $500 USD)
- In Jeju, the average monthly rent for a one-bedroom apartment in the city center is around KRW 600,000 (about $500 USD)
- In Daegu, the average monthly rent for a one-bedroom apartment in the city center is around KRW 500,000 (about $400 USD)
- In Incheon, the average monthly rent for a one-bedroom apartment in the city center is around KRW 700,000 (about $600 USD)
It’s worth noting that these are just rough estimates and the actual cost of renting a house in South Korea may vary depending on the specific area, type of accommodation, and amenities offered. Additionally, renting a house, usually would require a deposit of around KRW 2,000,000 (about $1,700 USD) and a monthly maintenance fee of KRW 100,000-150,000 (about $90-$130 USD) that includes the management fee of the building, electricity, and water bills.
Additionally, when renting a house in South Korea, foreigners may be required to provide certain documents such as a copy of their passport, alien registration card, and proof of income. Some landlords may also require a Korean guarantor, who would be responsible for the rent in case the tenant is unable to pay.
Rental prices can also vary depending on the size of the house, the number of rooms, and the amenities offered. For example, a larger house with more rooms and amenities such as a balcony or private parking may cost more than a smaller house with fewer amenities.
Furthermore, the cost of renting a house in South Korea can also vary depending on the neighborhood or district. For example, houses in more upscale neighborhoods such as Gangnam in Seoul, or Haeundae in Busan, tend to be more expensive than houses in other areas.
It’s important to do research and compare prices in different areas before deciding on a place to rent. Also, it is a good idea to consult with a real estate agent or a relocation service company to help you find a suitable house and assist you with the rental process.