Daechi-dong Jeonse Listings Fall 18% in One Month: Where Do Eunma Apartment Reconstruction and Tax Reforms Stand?
In early August 2026, the number of jeonse listings in Daechi-dong was reported to have fallen by approximately 18% compared with the previous month. Meanwhile, the Eunma Apartment reconstruction project has reached the project implementation approval stage, but residents have not yet begun relocating. The 2026 tax reform proposal should also not be treated as finalized legislation as of August 18, because the legislative process has not been completed.
For anyone looking for a jeonse rental in Daechi-dong or approaching a lease renewal, these three developments need to be considered separately. How much the current supply of listings has decreased, when relocation from Eunma Apartment will actually begin, and what provisions of the tax reform proposal will ultimately take effect are the key variables to watch when assessing the market going forward.
How Much Have Jeonse Listings in Daechi-dong Actually Declined?
In early August, the number of available jeonse listings in Daechi-dong was approximately 18% lower than in the previous month. However, this figure represents a change in the number of properties advertised for rent, not the volume of completed jeonse transactions. It therefore should not be interpreted as evidence that jeonse prices across Daechi-dong have increased by the same proportion.
The number of jeonse listings can change simply because landlords withdraw advertisements or put properties back on the market. The same home may also be listed by multiple real estate agencies, meaning the advertised inventory may differ from the actual transaction situation at individual apartment complexes.
When evaluating jeonse options in Daechi-dong, it is therefore more accurate to look beyond the overall decline in listings and examine the prices at which recent contracts were signed in the specific apartment complex and exclusive floor area you are considering. Even within Daechi-dong, jeonse conditions can vary significantly depending on whether a building is older or newly constructed, its proximity to private education facilities, the move-in date, and the size of the property.
In particular, asking prices mentioned in recent news reports need to be distinguished from actual prices recorded in completed transactions. Rather than relying on a single advertised asking price when deciding whether to sign a contract, a safer approach is to compare recently reported rental transaction prices for properties of the same size with the listings that remain available.
What Stage Has the Eunma Apartment Reconstruction Project Reached?
The Eunma Apartment reconstruction project received project implementation plan approval on 2026-07-02. According to the plan released by the Seoul Metropolitan Government, the reconstructed complex will consist of buildings up to 49 stories high, 29 buildings, and a total of 5,850 housing units, including 909 public rental units and 195 public-sale units. The Seoul Metropolitan Government and Gangnam District are proceeding with subsequent administrative steps, targeting the start of construction in 2028.
The most important distinction is that project implementation approval and resident relocation are not the same stage.
Following project implementation approval, several procedures remain, including approval of the management and disposal plan, actual resident relocation, and demolition. The procedures published by the Seoul Metropolitan Government also identify management and disposal plan approval, followed by relocation and demolition, as the stages after project implementation approval.
The Seoul Metropolitan Government's redevelopment information disclosure system likewise identifies the current stage of the Eunma Apartment project as project implementation approval as of mid-August. It does not indicate that management and disposal plan approval has been completed.
Therefore, statements that 'Eunma Apartment reconstruction has been approved' should not be understood to mean that 'residents have already begun relocating.' Media reports indicate that the reconstruction association is targeting relocation as early as the first half of 2027, but a target date is different from a confirmed date for the actual start of relocation.
Why Eunma Apartment Relocation Matters to the Daechi-dong Jeonse Market
Eunma Apartment currently comprises 4,424 households. Once the reconstruction project advances to the management and disposal and relocation stages, the movement of a large number of households could become a major focus of market attention. However, there is no basis for assuming that all 4,424 households will enter the Daechi-dong jeonse market at the same time.
The destinations of relocating households may vary. Some may wish to remain in Daechi-dong or nearby neighborhoods, while others may move to different areas or use homes they already own.
At this stage, the priority is therefore not to make premature assumptions about how many households will relocate, but to establish when official management and disposal plan approval and the actual relocation schedule will be confirmed.
Once relocation is officially announced, it will be important to monitor changes in jeonse listings and actual transaction prices for comparable properties not only in Daechi-dong but also in neighboring areas such as Dogok-dong and Gaepo-dong. Conversely, before an official schedule is confirmed, there is no reason to rush into a decision about lease terms based solely on a projected relocation date.
Has the 2026 Tax Reform Already Taken Effect for Daechi-dong Landlords?
It should not yet be regarded as a finalized system. The government announced its tax reform proposal on 2026-08-03 and is accepting public comments on proposed amendments to real estate-related tax laws until August 20. As of August 18, the announcement of a reform proposal must be distinguished from the final enactment and implementation of legislation.
The government's published proposal includes measures that could affect calculations of comprehensive real estate holding tax and capital gains tax depending on property ownership and whether the owner actually resides in the home.
For 1-household, 1-home owners who actually live in their property, the proposal would adjust the basic deduction threshold for comprehensive real estate holding tax from the current KRW 1,200,000,000 to KRW 1,400,000,000. Conversely, for 1-home owners who do not reside in their property, the proposal would adjust the basic deduction threshold from KRW 1,200,000,000 to KRW 900,000,000. The proposed changes also include revisions to rules affecting owners of multiple homes and special deductions for long-term property ownership.
However, these figures alone should not be used to calculate how much the tax burden on a particular Daechi-dong apartment would increase or decrease. Individual circumstances vary, including the number of homes owned, actual occupancy, length of ownership, and property value. More importantly, the proposal must still pass through the legislative process.
It would also go beyond the currently verified facts to conclude that changes in taxation have caused the decline in jeonse listings. What can presently be confirmed is that jeonse listings in Daechi-dong have decreased while reconstruction procedures and discussions about housing taxation have been taking place during the same period.
What Should You Check First If You Are Looking for a Jeonse Rental in Daechi-dong?
Rather than focusing on Daechi-dong's overall average or representative prices mentioned in news reports, the first step is to narrow your search by apartment complex, floor area, and contract date.
Start by identifying your preferred apartment complex and exclusive floor area, then compare recently reported actual rental transaction prices with currently available jeonse listings. Even apartments with the same floor area can have different lease conditions depending on the floor, building, renovation status, and whether the contract is a renewal. This makes it difficult to assess the market using a single figure for 'Daechi-dong jeonse prices.'
If you intend to factor developments at Eunma Apartment or other nearby reconstruction complexes into your leasing decision, it is better to go beyond reports of project implementation approval and check whether management and disposal plan approval has been granted and whether an official relocation notice has been issued. Eunma Apartment has currently reached the project implementation approval stage, and further official procedures remain before relocation can begin.
Similarly, announced tax reform proposals must be distinguished from laws that have actually taken effect. In particular, given that the jeonse contract period is 2 years, it is more practical to consider whether reconstruction relocation schedules or the property owner's occupancy plans could change during the lease term, rather than looking only at the number of available listings when the contract is signed.
What Changes Should Be Monitored Next in the Daechi-dong Jeonse Market?
The first developments to monitor are management and disposal plan approval and the official relocation schedule for Eunma Apartment. The stage currently confirmed by official sources is project implementation approval, and the Seoul Metropolitan Government is targeting the start of construction in 2028.
The second is whether the number of jeonse listings, which was reported to have declined by approximately 18% month over month in early August, continues to fall. A single month's decrease in available listings is not enough to establish a long-term trend. Comparing the following month's figures using the same criteria will provide a clearer indication of the market's direction.
The third is the final legislative outcome of the 2026 tax reform proposal. It will be necessary to verify whether the currently published measures are implemented without changes and how their effective dates and detailed conditions are finalized before applying them to actual property ownership and occupancy circumstances.
Ultimately, Daechi-dong in August 2026 cannot be adequately explained by the single statement that 'jeonse listings have declined.' Although the decrease in available listings has already been confirmed, Eunma Apartment has not yet reached the actual relocation stage, and the tax reform proposal is still undergoing the legislative process. Anyone considering a jeonse contract now will get the most accurate picture by checking current actual transaction prices for individual apartment complexes, the official stage of reconstruction, and the final enacted tax laws, in that order, rather than relying on forecasts.