In February 2021, the average monthly rent for one-bedroom flats in Seoul, South Korea, amounted to around ******* South Korean won, up from about ******* South Korean won in the previous month. The average monthly rent for one-bedroom apartments in Seoul has shown an upward trend recently.

Living in Seoul In a metropolitan area like Seoul, housing is a scarce commodity, and prices are constantly rising as a result. The high population density of the capital, and the increasing trend to move towards the city to enjoy urban life is reflected in the housing situation. This can also be seen in the most common type of housing in Seoul, which is apartments. This is a general trend nationwide, with high-rise apartments over **** stories being the most frequent type of housing in South Korea.

Single-households are most prominent The most prominent type of household in South Korea is single households, as they make up more than ** percent of all domestic households. To aid this portion of the public, there are housing support programs single households can participate in. The share of participants for such programs was the highest in loans for housing leases. Other offered programs are subsidies for monthly rent or the supply of long-term public rental housing.

South Korea Rent Price Index: sa data was reported at 109.245 2015=100 in 2025. This records an increase from the previous number of 108.443 2015=100 for 2024. South Korea Rent Price Index: sa data is updated yearly, averaging 79.204 2015=100 from Dec 1985 (Median) to 2025, with 41 observations. The data reached an all-time high of 109.245 2015=100 in 2025 and a record low of 36.533 2015=100 in 1985. South Korea Rent Price Index: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual.

In September 2024, the average purchase price for apartments over *** square meters in South Korea amounted to around *** million South Korean won per square meter. This was a decrease of almost *** million won per square meter from the previous month for apartments of this size.

Apartment price trends In recent years, apartment prices in Korea have experienced a steady rise, driven by factors such as urbanization and economic growth. Seoul, the capital city, documented the highest average apartment price at about **** million won per square meter. The most expensive area to live in Seoul was Gangnam, with an average apartment selling price of around *** billion won. As of 2024, The Penthouse Cheongdam apartment located in Gangnam was considered the most expensive apartment in South Korea. Its transaction value exceeded ** billion won, setting it apart from the second-most expensive apartment by more than ***** billion won. Living in luxury Exclusive districts like Gangnam showcase high-end residences with panoramic city views, luxurious designs, and premium facilities. Over the past five years, there has been a notable increase in the share of luxury apartments in Seoul. More than ** percent of apartments in Seoul with more than *** kitchen and room were valued at over *** million won. According to a survey, Hyundai's "Hillstate" merged as the most preferred brand for apartments, followed by Samsung C&T’s "Raemian" as the second-most popular choice.

In the second quarter of 2024, the rental prices of office buildings in Seoul amounted to around ****** South Korean won per square meter, the highest among all provinces in South Korea. Gyeonggi and Incheon followed with about ****** and ***** won per square meter, respectively. Lower demand for offices in South Korea Some office buildings offer both commercial and residential uses in South Korea. Despite their multipurpose nature, these so-called officetels have seen lower demand in past months due to higher interest rates compared to a few years ago and affordability concerns. Indeed, the sales price index of officetels saw a continuous decline into 2024. Options beyond traditional housing in South Korea More than ******* units in a housing survey were considered to be non-residential buildings, such as officetels, in South Korea in 2023. These units are known to be more affordable than traditional housing options but are short in space and usually designed for a maximum of one or two people. Officetels offer a practical solution for long commutes or allow a more independent lifestyle, often sought by young adults used to multi-generational communal living commonly practiced in South Korea.

In the fourth quarter of 2024, the average rent for small-scale retail stores in South Korea amounted to around ****** South Korean won per square meter. The average rent was highest in Seoul at around ****** won per square meter, while it was lowest in Jeonbuk at around ****** won per square meter.

South Korea Standardised Price-Rent Ratio: sa data was reported at 106.162 Ratio in 2024. This records a decrease from the previous number of 106.438 Ratio for 2023. South Korea Standardised Price-Rent Ratio: sa data is updated yearly, averaging 103.556 Ratio from Dec 1986 (Median) to 2024, with 39 observations. The data reached an all-time high of 120.453 Ratio in 1990 and a record low of 75.266 Ratio in 1998. South Korea Standardised Price-Rent Ratio: sa data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s South Korea – Table KR.OECD.AHPI: House Price Index: Seasonally Adjusted: OECD Member: Annual. Nominal house prices divided by rent price indices. The long-term average is calculated over the whole period available when the indicator begins after 1980 or after 1980 if the indicator is longer. This value is used as a reference value. The ratio is calculated by dividing the indicator source on this long-term average, and indexed to a reference value equal to 100.

Korea Average: AH: Monthly Rent: Secured Loan data was reported at 8,480.000 KRW th in 2017. This records a decrease from the previous number of 9,160.000 KRW th for 2016. Korea Average: AH: Monthly Rent: Secured Loan data is updated yearly, averaging 7,645.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 9,160.000 KRW th in 2016 and a record low of 6,940.000 KRW th in 2012. Korea Average: AH: Monthly Rent: Secured Loan data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H075: SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

This is the monthly trend data on apartment sales prices and average sales prices provided by the Korea Real Estate Board (formerly Korea Appraisal Board) from the National Housing Price Trend Survey.

Korea Average: AH: Monthly Rent: Total Liabilities data was reported at 21,790.000 KRW th in 2017. This records an increase from the previous number of 21,090.000 KRW th for 2016. Korea Average: AH: Monthly Rent: Total Liabilities data is updated yearly, averaging 19,745.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 21,790.000 KRW th in 2017 and a record low of 16,890.000 KRW th in 2010. Korea Average: AH: Monthly Rent: Total Liabilities data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H075: SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

Korea Average: HPL: Monthly Rent: Secured Loan data was reported at 16,260.000 KRW th in 2017. This records a decrease from the previous number of 17,740.000 KRW th for 2016. Korea Average: HPL: Monthly Rent: Secured Loan data is updated yearly, averaging 14,510.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 17,740.000 KRW th in 2016 and a record low of 12,540.000 KRW th in 2012. Korea Average: HPL: Monthly Rent: Secured Loan data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H075: SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

According to a survey conducted in South Korea as of July 2023, around ** percent of respondents stated that housing rental prices would keep going up over the next year. When asked about the current government's housing policies, approximately ** percent of respondents were satisfied with it.

Korea Average: AH: Monthly Rent: A Deposit For A Lease data was reported at 13,250.000 KRW th in 2017. This records an increase from the previous number of 12,780.000 KRW th for 2016. Korea Average: AH: Monthly Rent: A Deposit For A Lease data is updated yearly, averaging 12,940.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 13,390.000 KRW th in 2011 and a record low of 11,270.000 KRW th in 2010. Korea Average: AH: Monthly Rent: A Deposit For A Lease data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H075: SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

Korea Average: AH: Monthly Rent: Receiving Money From A Lease data was reported at 3,520.000 KRW th in 2017. This records an increase from the previous number of 3,400.000 KRW th for 2016. Korea Average: AH: Monthly Rent: Receiving Money From A Lease data is updated yearly, averaging 3,830.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 4,420.000 KRW th in 2011 and a record low of 3,400.000 KRW th in 2016. Korea Average: AH: Monthly Rent: Receiving Money From A Lease data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H075: SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

South Korea Median: HPL: Monthly Rent: TL: Receiving Money from a Lease data was reported at 60,000.000 KRW th in 2018. This records an increase from the previous number of 55,000.000 KRW th for 2017. South Korea Median: HPL: Monthly Rent: TL: Receiving Money from a Lease data is updated yearly, averaging 57,500.000 KRW th from Mar 2017 (Median) to 2018, with 2 observations. The data reached an all-time high of 60,000.000 KRW th in 2018 and a record low of 55,000.000 KRW th in 2017. South Korea Median: HPL: Monthly Rent: TL: Receiving Money from a Lease data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s South Korea – Table KR.H075: 2017 SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

In 2023, a survey found that around **** percent of housing in the Chungnam province of South Korea were apartments. The average share of housing that were apartments within the country was at around **** percent that year.

Korea Average: AH: Monthly Rent: Real Estate data was reported at 22,740.000 KRW th in 2017. This records a decrease from the previous number of 24,110.000 KRW th for 2016. Korea Average: AH: Monthly Rent: Real Estate data is updated yearly, averaging 22,590.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 27,580.000 KRW th in 2011 and a record low of 18,610.000 KRW th in 2013. Korea Average: AH: Monthly Rent: Real Estate data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H075: SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

As of the third quarter of 2024, the housing affordability index in South Korea stood at around ** points. The third quarter of 2022 saw the first drop in figures since 2020. The lower the index value, the more affordable a home is for a median-income household. Apartments in South Korea Average apartment prices in South Korea had risen for almost a decade before 2022. The country's popularity worldwide helped it become an economic powerhouse, attracting young workers from the countryside to large cities in hopes of taking part in or benefiting from this growth. As such, apartments are an attractive option for cities, optimizing space as they become more crowded. In terms of financing a new home, the leasehold deposit system exists as an alternative to traditional monthly rentals in Korea. Jeonse and leasehold deposits Jeonse is a leasehold deposit system in Korea where, instead of paying rent monthly, people pay a large deposit equivalent to a share of a property's value. In exchange, the person receives the right to reside in the property as a tenant for a limited amount of time. Granted, the up-front cost is high, and it is common to receive loans from banks to pay for the leasehold deposit. It had traditionally been a popular method as you could live in a housing unit without worrying about rent for *** or two years. However, this system is slowly being phased out as interest rates, the large up-front cost, and cases of jeonse fraud have turned people away.

Korea Average: AH: Monthly Rent: Net Worth data was reported at 46,090.000 KRW th in 2017. This records a decrease from the previous number of 46,140.000 KRW th for 2016. Korea Average: AH: Monthly Rent: Net Worth data is updated yearly, averaging 44,900.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 46,140.000 KRW th in 2016 and a record low of 33,400.000 KRW th in 2010. Korea Average: AH: Monthly Rent: Net Worth data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H075: SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

Korea Average: AH: Monthly Rent: Disposable Income data was reported at 26,130.000 KRW th in 2017. This records an increase from the previous number of 25,250.000 KRW th for 2016. Korea Average: AH: Monthly Rent: Disposable Income data is updated yearly, averaging 23,925.000 KRW th from Mar 2010 (Median) to 2017, with 8 observations. The data reached an all-time high of 26,130.000 KRW th in 2017 and a record low of 20,880.000 KRW th in 2010. Korea Average: AH: Monthly Rent: Disposable Income data remains active status in CEIC and is reported by Statistics Korea. The data is categorized under Global Database’s Korea – Table KR.H075: SHFLC: Household Assets, Liabilities & Income By The Type of Housing.

In 2024, the Penthouse Cheongdam apartments, located in the Gangnam district of Seoul, were the most expensive in South Korea, with an actual transaction value of around **** billion South Korean won. This price exceeded that of the second-most expensive apartment, creating a price gap of approximately *** billion won. The most expensive area in South Korea Seoul ranks as the most expensive city in South Korea. As of November 2023, the average apartment price in Seoul stood at around **** million won, about three times the national average. According to the housing affordability index, Seoul received the highest score nationwide. Within Seoul, the most expensive area was Gangnam, whose residents are known for their luxurious lifestyle. Increasing mortgage loans Since apartments constitute the majority of housing in South Korea, it is no surprise that most mortgage loans are granted for apartment purchases. Moreover, mortgage loans have steadily increased over the years, indicating a higher financial burden for housing, in line with the high housing affordability index. Despite the high housing prices, a survey revealed that most respondents thought housing prices would fall over the next year. Although this provides a relatively positive outlook for future developments, the current housing situation has left respondents with a negative impression of the current government’s real estate policies.