Hannam The Hill — Recorded Rentals by Unit Type —

Hannam The Hill — Recorded Rentals by Unit Type
SEOUL · YONGSAN · HANNAM-DONG

Hannam The Hill

— Recorded Rentals by Unit Type —
May 2022 — May 2025 · 600 households · 6 unit types · 80 jeonse + 94 wolse transactions
Concept Note · Korean Residential Leasing

Jeonse (전세) is a uniquely Korean lease structure with no monthly rent. The tenant places a single lump-sum deposit — typically 50–70% of the home's market value — with the landlord. The landlord earns income by investing or leveraging the deposit during the lease (commonly two years), then returns the full amount at lease end. For luxury units like Hannam The Hill, jeonse deposits routinely run into tens of billions of won.

Wolse (월세) is a hybrid: a smaller deposit (much smaller than jeonse, but typically far larger than a Western security deposit) plus ongoing monthly rent. The two figures trade off — higher deposit, lower monthly rent, and vice versa.

Jeonse-to-Wolse Conversion Rate is the implied annual yield used to translate deposit into monthly rent, published by the Bank of Korea. For Seoul apartments it has hovered around 4–6% in recent years. This document normalises every wolse contract to a common ₩100M (1 eok) deposit basis using a 5% conversion rate, allowing direct comparison across deals with very different deposit/monthly structures.

Pricing convention: All prices in ₩100M (eok) for deposits — one eok equals one hundred million won, roughly USD 73,000 at recent rates. Monthly rents are shown in millions of won (₩M).

I. Structure · Unit Composition
Unit Type Built Form Buildings Households
26 pyeong (59㎡ net) Plate type 130, 131, 132 (3 buildings) 133
65 pyeong (178㎡ net) Plate type 119 (1 building, rare) 36
74 pyeong (208㎡ net) Plate type 102, 114, 115, 116, 117, 118 (6 buildings) 131
85 pyeong (233㎡ net) Tower type 120–129 (10 buildings, largest count) 204
91 pyeong (240㎡ net) Terrace type 101, 105, 108, 109, 112, 113 (6 buildings, by Maebong-san) 60
100 pyeong (243㎡ net) Platform / Penthouse 103, 104, 106, 107, 110, 111 (6 buildings, duplex/penthouse) 36
Total 600
Part A
Jeonse (전세)
Lump-sum deposit · no monthly rent · 80 transactions
II. Transactions · Jeonse Deposit Trends by Unit Type
26 pyeong (59㎡) 27 txns · ₩9.0–21.0 · avg ₩15.7
65 pyeong (178㎡) 11 txns · ₩33.6–50.0 · avg ₩45.3
74 pyeong (208㎡) 8 txns · ₩36.5–55.0 · avg ₩50.2
85 pyeong (233㎡) 33 txns · ₩9.1–65.0 · avg ₩49.7
91 pyeong (240㎡) No transactions
No jeonse transactions in this period
100 pyeong (243㎡) 1 txn · ₩95.0
Each unit type uses its own Y-axis scale · hover any point to see the transaction date and deposit amount
III. Price Summary · Jeonse Deposits by Unit Type
All deposits in ₩100M (eok). ₩100M ≈ USD 73,000 at recent rates.
Unit Type Txns Min Max Avg Median
26 pyeong (59㎡)27₩9.0₩21.0₩15.7₩16.0
65 pyeong (178㎡)11₩33.6₩50.0₩45.3₩45.0
74 pyeong (208㎡)8₩36.5₩55.0₩50.2₩51.5
85 pyeong (233㎡)33₩9.1₩65.0₩49.7₩52.0
91 pyeong (240㎡)0————
100 pyeong (243㎡)1₩95.0₩95.0₩95.0₩95.0
Total80₩9.0₩95.0——
Part B
Wolse (월세)
Deposit plus monthly rent · 94 transactions
Normalised to a ₩100M (1 eok) deposit basis using a 5% conversion rate, allowing direct comparison across deals
IV. Transactions · Normalised Monthly Rent by Unit Type
26 pyeong (59㎡) 56 txns · norm. ₩4.5M–₩8.8M · avg ₩7.1M
65 pyeong (178㎡) 3 txns · norm. ₩19.8M–₩21.1M · avg ₩20.3M
74 pyeong (208㎡) 14 txns · norm. ₩12.7M–₩35.4M · avg ₩21.2M
85 pyeong (233㎡) 20 txns · norm. ₩14.6M–₩26.7M · avg ₩23.6M
91 pyeong (240㎡) 1 txn · norm. ₩32.9M/mo
100 pyeong (243㎡) No transactions
No wolse transactions in this period
Each unit type uses its own Y-axis scale · Normalisation formula: Normalised rent = Recorded monthly rent + (Deposit − ₩100M) × 5% ÷ 12
Hover any point to see the actual recorded deposit and monthly rent · 5% rate matches BOK Seoul-apartment average and back-solves cleanly across the dataset
V. Price Summary · Wolse by Unit Type
Deposits in ₩100M (eok); monthly rents in ₩M (millions of won). Normalised column applies a 5% conversion rate to a ₩100M deposit basis.
Unit Type Txns Recorded Range Normalised Monthly Rent (₩100M basis)
Deposit Monthly Min–Max Avg Median
26 pyeong (59㎡)56₩0.0–15.0₩0.4M–₩8.3M₩4.5M–₩8.8M₩7.1M₩7.4M
65 pyeong (178㎡)3₩15.0–30.0₩8.0M–₩14.0M₩19.8M–₩21.1M₩20.3M₩20.1M
74 pyeong (208㎡)14₩2.0–50.0₩0.6M–₩24.0M₩12.7M–₩35.4M₩21.2M₩22.8M
85 pyeong (233㎡)20₩2.0–56.0₩0.4M–₩25.0M₩14.6M–₩26.7M₩23.6M₩24.5M
91 pyeong (240㎡)1₩20.0–20.0₩25.0M–₩25.0M₩32.9M–₩32.9M₩32.9M₩32.9M
100 pyeong (243㎡)0—————
Total94—————
Source: Korea Ministry of Land, Infrastructure and Transport · Unit type classified by net floor area · Wolse conversion rate 5% · Compiled by Quiet Property
Quiet Property  ·  Jin Kong
jin@quietproperty.kr
Location: Seoul, South Korea

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