Seoul Real Estate Guide

Long-Term vs. Short-Term Rentals in Korea

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Long-Term Rentals

- Lease terms are typically 1 or 2 years. Under Korean law, a 2-year lease is the standard, but a 1-year lease can often be negotiated with the landlord. In Seoul, especially in popular areas, 1-year leases are quite common.

- Most properties include essential appliances such as an air conditioner, refrigerator, washing machine, and gas stove. However, the appliances provided may vary depending on the property.

- Move-in is usually required within 2–3 weeks after signing the lease.

- Security deposits typically start from KRW 5 million or KRW 10 million, depending on the property.

- Monthly rent is generally more affordable than short-term rentals.



 Short-Term Rentals

- The standard lease term is 3 months, with the option to extend on a month-to-month basis. One- or two-month stays may also be available, depending on the property.

Most units are fully furnished, including an air conditioner, washing machine, refrigerator, gas stove, bed, TV, and other essential furniture. However, many high-rise apartments in Seoul are not furnished, even when they are offered as short-term rentals.

- Move-in is usually possible within 7 days.

- Security deposits are typically lower than those for long-term rentals and are often similar to one month's rent.

- Monthly rent is generally higher than long-term rentals, and there is usually less flexibility when negotiating the security deposit and monthly rent.





Feature

            Long-Term              

Short-Term

Lease

1–2 years

1–3+ months

Furniture

Usually No

Usually Yes

Deposit

Higher

Lower

Monthly Rent

Lower

Higher

Move-in

2–3 weeks

Within 7 days

 

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