(MENAFN) Mainly driven by a seasonal drop in demand, South Korea's rental deals declined 4.3 percent on-month reaching 117,280 units last month, a fall from down from 122,552 units in July.
Meanwhile, taking the numbers based on a yearly progress, transactions jumped 4.4 percent, with figures increasing 1.6 percent in the January-August period to 1,011,164 units as opposed to 2014.
However, the overall situation looked bad, as reports showed all rental transactions for August dropping across the board, with Seoul and the surrounding regions slumping 2.7 percent compared with July.
"August is usually a weak month for rental transactions, while the trend by a growing number of homeowners to switch from jeonse to monthly rent may have played a part in weaker numbers," declared a ministry official.
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