The Effect of Changes in Tenants’ Risk Premium After Jeonse Fraud on Deposit-to-Rent Conversion Rates by Housing Type

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This research aims to verify if the rise in tenants' risk premium due to jeonse fraud affects deposit-to-rent conversion rates.
Estimated quarterly deposit-to-rent conversion rates for apartments and multi-family housing in Seoul by legal district.
Utilized machine learning-based predictive models combined with SHAP analysis to capture spatial and temporal heterogeneity.
Applied a difference-in-differences (DID) model to estimated conversion rates before and after jeonse fraud, controlling for fixed effects and other variables.
Observed a higher increase in rent conversion rates for multi-family housing compared to apartments after the occurrence of jeonse fraud.
Indicated that the increased uncertainty related to jeonse fraud raised the rental deposit risk premium for multi-family housing.
Suggested changes in transaction conditions accepting higher rent conversion rates may align with the alterations in risk perceptions.

Reveals increased rent conversion rates in housing types following jeonse fraud, suggesting significant market shifts.

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So et al. (2026) studied this question.

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