Young Koreans' 1st-home buying hits 5-year high as Seoul rents soar

First-time home purchases by young Koreans have reached a nearly five-year high in Seoul, with 7,547 transactions recorded in July. This surge is largely driven by rising rental costs, known as "jeonse," which have made buying a home a more attractive option for many. As a result, more young renters are entering the housing market, with those in their 30s accounting for the majority of these purchases, at 57 percent.

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Young Koreans are buying homes due to rising rental costs. This could lead to increased demand for housing and related assets.

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