Long-Term Lease vs Share House vs Officetel in Korea: Cost Comparison (Seoul & Busan)
Choosing housing in Korea can be overwhelming for foreigners, students, or long-term workers. The three most popular options are long-term lease (전세/월세), share houses, and officetels. In this guide, we compare costs in Seoul and Busan (2025) to help you decide which option fits your budget and lifestyle.
1. Housing Types Explained
  - Long-Term Lease: Traditional option with large deposit (jeonse) or monthly rent contracts. Popular for stability.
 
  - Share House: Co-living with private bedrooms and shared common areas (kitchen, lounge, bathroom). Lower initial costs.
 
  - Officetel: Mixed-use building, usually one-room apartments suitable for singles or couples, often located in business districts.
 
2. Key Cost Factors
When comparing costs across Seoul and Busan, consider:
  - Deposit requirements (전세금 / 보증금)
 
  - Monthly rent and utility bills
 
  - Location (city center vs suburban areas)
 
  - Facilities and management fees
 
  - Contract terms and flexibility
 
3. Cost Estimates (Seoul 2025)
  - Long-Term Lease: Deposit ₩10M–₩30M + Rent ₩500k–₩1.5M+
 
  - Share House: Deposit ₩200k–₩500k + Monthly ₩300k–₩600k
 
  - Officetel: Deposit ₩5M–₩20M + Rent ₩400k–₩1.2M
 
4. Cost Estimates (Busan 2025)
  - Long-Term Lease: Deposit ₩5M–₩15M + Rent ₩300k–₩800k
 
  - Share House: Deposit ₩200k–₩400k + Monthly ₩250k–₩500k
 
  - Officetel: Deposit ₩3M–₩10M + Rent ₩250k–₩700k
 
5. Cost Comparison Table
  
    | Housing Type | 
    Seoul (2025) | 
    Busan (2025) | 
  
  
    | Long-Term Lease | 
    Deposit ₩10M–₩30M + Rent ₩500k–₩1.5M+ | 
    Deposit ₩5M–₩15M + Rent ₩300k–₩800k | 
  
  
    | Share House | 
    Deposit ₩200k–₩500k + Monthly ₩300k–₩600k | 
    Deposit ₩200k–₩400k + Monthly ₩250k–₩500k | 
  
  
    | Officetel | 
    Deposit ₩5M–₩20M + Rent ₩400k–₩1.2M | 
    Deposit ₩3M–₩10M + Rent ₩250k–₩700k | 
  
6. Pros & Cons
Long-Term Lease
  - ✔ Stability and private space
 
  - ✘ High deposit requirement
 
Share House
  - ✔ Low upfront cost, social environment
 
  - ✘ Limited privacy, shared facilities
 
Officetel
  - ✔ Central location, convenience
 
  - ✘ Higher rent + management fees
 
7. Conclusion
In Seoul and Busan, each housing type offers different trade-offs: leases provide stability but require large deposits, share houses are budget-friendly but limit privacy, and officetels balance convenience with higher costs. Evaluate based on budget, lifestyle, and length of stay.
References & Sources:
  - GoBang Share House listings, Busan (2025) – gobang.kr
 
  - Blueground Korea furnished apartments – blueground.com
 
  - SH Seoul Housing – i-sh.co.kr
 
  - Global Property Guide – Korea rental standards
 
 
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