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Home Buyers in 20s and Younger on the Rise

Written: 2020-11-20 17:03:18Updated: 2020-11-20 17:19:36

Home Buyers in 20s and Younger on the Rise

Photo : YONHAP News

Amid rising home prices and a shortage of "jeonse" rental homes, South Koreans in their 20s and younger are purchasing homes more aggressively.

According to data by the Korea Appraisal Board released Friday, over 35-hundred apartment units were purchased by people in their 20s or younger in the month of October nationwide, which is up 25 percent from the previous month.

Buyers in this demographic accounted for five-point-four percent of all apartment purchases made last month, the first time they surpassed five percent since related statistics by age group began to be compiled from early last year.

The latest data implies young people who are typically the weakest players in the housing market are feeling agitated by recent conditions such as rising rental prices and the short supply of deposit-lease rental homes, known as jeonse.

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