Unstable Rental Market... Seoul Seeks Solutions Through Institutional Private Rentals and Long-Term Leases

Rental Market Instability Persists: Seoul Housing Forum to Be Held

Seeking Solutions Through Institutional Private Rentals and Long-Term Lease Housing

Citizen Feedback to Be Reflected in Upcoming Rental Policy

The Seoul Metropolitan Government will host a forum to discuss measures for stabilizing the monthly and annual rent market. In light of continued instability in Seoul's rental market, the city plans to seek effective alternatives, such as institutional private rentals.

Apartment landscape of the Gangnam area as seen from the Lotte World Tower Sky Observatory in Songpa-gu, Seoul. Photo by Dongju Yoon doso7@

The Seoul Metropolitan Government announced on October 4 that it will hold the "2026 Seoul Housing Forum" at the Korea Press Center in Jung-gu, Seoul, on October 7. This forum, which has been organized since 2019, brings together experts and citizens to seek solutions to pressing housing policy issues.

This year’s forum will focus on the theme, "Diagnosing the Current Status of the Monthly & Annual Rent Market and Seeking Stabilization Measures," as participants review issues facing the rental market and discuss practical policy alternatives.

The Seoul Metropolitan Government explained, "Housing and real estate experts will examine variables such as how changes in the purchase market impact the rental market, the system for supplying private rental housing, and the role of long-term lease housing. Policy directions for supplying stable rental housing and ensuring tenant security will also be discussed."

Changmoo Lee, Chief Architect of the Seoul Metropolitan Government, will deliver a keynote address analyzing the recent structural changes and main risk factors in the rent market. This will be followed by Sangyoung Lee, a professor at Myongji University, who will review overseas case studies on institutional private rental housing and suggest policy tasks and directions for institutional improvements applicable to the domestic market.

Kangtae Cho, CEO of MGRV, will share field experiences in supplying and operating private rental housing, while Professor Junhyoung Kim of Myongji University will evaluate the accomplishments of Seoul’s long-term rental housing policy.

During the expert panel discussion, questions pre-submitted by citizens will also be addressed. The opinions gathered from citizens and suggestions from experts will be used in future policy reviews concerning the rental market. The forum is open to all citizens.

Seongbo Kim, Second Deputy Mayor for Administration of Seoul, stated, "Through this forum, citizens will work together with experts to find solutions to the rent issues they experience firsthand. We will actively use these diverse perspectives to develop rental market stabilization policies and housing welfare programs that can be truly felt by citizens."

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