Average key money (a large deposit paid to the landlord instead of rent) on Jeju is around 50 million won (US$45,000). It is fourth highest in the nation following Gyeonggi province (82.7 million won, $74,769), Gyeongnam (58.6 million won, $53,000), and Chungnam (523.1 million won $472,709). Also, vehicle usage per day and average number of compact cars on Jeju are the highest in Korea.
According to the Statistics Korea Census on housing and transportation, Jeju’s average key money as of Nov. 1, 2010 is 48.69 million won ($44,000), a 37.8 percent (13.35 million won, $12,000) increase compared to 2005.
Of all households in Jeju, 40.4 percent pay 30 million to 50 million won ($27,000 - $45,000) in key money, 25.7 percent pay less than 30 million won, and 23.3 percent pay 50 million to 100 million ($45,000 - $90,400). Of all Jeju residents, 10.6 percent pay over 100 million won in key money.
This is a sharp increase considering the fact that only 2.7 percent paid over 100 million won in 2005, indicating that overall key money has raise for apartments.
On average, Jeju locals stay at one house for 10 years and two months. This is longer than the national average of 7 years 9 months.
Especially, the percentage of households living in the same house for over 25 years is 15.7 percent, well above the national average of 9.1 percent.
Households on Jeju with one or more vehicles is 68.4 percent, ranked third in the nationwide following Ulsan (74.5 percent) and Gyeonggi (70.5 percent). Jeju also has the highest percentage of compact car possession in Korea with 23.6 percent.
Also, Jeju locals use their cars 3.2 times per day on average, the highest in Korea.
For more information, call Statistics Korea at 042-481-3738.
<Translated by Angela Kim editor@jejuweekly.com ⓒ Jeju Weekly All rights reserved>
