A rental crisis is likely to hit the Daechi school district

‌The situation in the Daechi school district is quite different from areas where people live near their workplaces.
Since it is virtually an irreplaceable area for entrance exam preparation,
once someone gets on the "Daechi-dong track," it is difficult for them to leave that area until they finish their exams.
However, two bombs have just dropped on that neighborhood's rental market.
First, landlords are returning due to real estate tax reforms.
Generally, the pattern was to rent out their units after their children entered university, live elsewhere, and then gift or inherit the Daechi-dong apartment to their children once they grow up.
But with this new measure, a large number of landlords will return to their own homes, which will cause a massive disappearance of rental supply.
Second, the Eunma Apartment reconstruction.
They have already filed mass eviction lawsuits against the existing tenants.
There will be absolutely no contract extensions after the current terms end.
Since Eunma is a complex where landlords have been waiting solely for reconstruction, the rental ratio is very high.
And the people who chose to pay expensive rent to live in those aging apartments did so solely for their children's college entrance exams.
Demand from thousands of households whose contracts are ending will pour into the surrounding areas.
Since landlords will also be moving into Daechi as well as nearby Gaepo and Dogok, it will be absolute chaos.
Ah... I'm not expressing concern for those people; I'm just saying that's how it will be....