This study empirically analyzes the transmission pathways for the transition toward monthly rent in housing leases for different housing types in the Seoul Metropolitan Area. Rental transaction data provided by the Ministry of Land, Infrastructure, Transport and Tourism were used to identify changes in the ratio of monthly rent transactions relative to jeonse transactions between January 2017 and December 2025. On this basis, the interdependence and transmission structure of fluctuations among housing types were identified through connectedness analysis. The results show that apartments function as net transmitters, transmitting changes in monthly rent dynamics to other housing types, whereas strong bidirectional spillovers are observed among non-apartment submarkets. This indicates that the transition toward monthly rent is not an independent change within a single housing type, but rather a coordinated adjustment process among interconnected housing submarkets. In addition, regional differences in transmission structures suggest that the mechanisms of monthly rent transition operate heterogeneously within the metropolitan area. This study’s contribution is twofold: to interpret the transition toward monthly rent as a dynamic spillover phenomenon and to empirically demonstrate the linkage structure among housing types.
Sung Chan Kim (Wed,) studied this question.