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 December 2024, the average price of an apartment purchase in South Korea was around *** million South Korean won per square meter. The apartment price was highest in Seoul with about **** million won per square meter, almost twice as much as following the province of Gyeonggi with around *** million won per square meter.

The centrality of Seoul Boasting a population of over nine million people and accounting for a large part of the country’s GDP, the capital city is both economically attractive and notoriously expensive in terms of housing. Going by mean apartment selling prices, Seoul’s southern and southeastern districts of Gangnam and Seocho rank the highest. Changing trends For a society which traditionally expected for its younger generations to care for their elders, these norms began to soften up in the country. The first two decades of the century saw the share of one-person households more than double. As the principal age groups that reside in such households are younger people, the country is expected to continue building housing units in the future.

In February 2021, the average monthly rent for one-bedroom flats in Seoul, South Korea, amounted to around 510,000 South Korean won, up from about 480,000 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 five 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 30 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.

Korea Median Housing Price: Apartments: 6 Large Cities: Incheon data was reported at 25,185.854 KRW tt in Nov 2018. This records an increase from the previous number of 25,173.692 KRW tt for Oct 2018. Korea Median Housing Price: Apartments: 6 Large Cities: Incheon data is updated monthly, averaging 23,636.681 KRW tt from Apr 2013 (Median) to Nov 2018, with 68 observations. The data reached an all-time high of 25,215.780 KRW tt in Oct 2017 and a record low of 19,888.953 KRW tt in Sep 2013. Korea Median Housing Price: Apartments: 6 Large Cities: Incheon data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB033: Median Housing Price: Kookmin Bank.

In December 2024, the monthly mean purchase price of apartments with over *** square meters in Seoul, South Korea amounted to around **** million South Korean won per square meter. Medium-sized apartments followed at around **** million South Korean won per square meter.

Korea (DC) Apartment Price Index: By Region: Seoul data was reported at 159.400 Dec1997=100 in Apr 2003. This records an increase from the previous number of 157.000 Dec1997=100 for Mar 2003. Korea (DC) Apartment Price Index: By Region: Seoul data is updated monthly, averaging 101.450 Dec1997=100 from Mar 1998 (Median) to Apr 2003, with 62 observations. The data reached an all-time high of 159.400 Dec1997=100 in Apr 2003 and a record low of 83.300 Dec1997=100 in Nov 1998. Korea (DC) Apartment Price Index: By Region: Seoul data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s Korea – Table KR.EB074: Apartment Price & Rental Index (Discontinued).

Housing Index in South Korea remained unchanged at 93 points in May. This dataset provides - South Korea House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Price to Rent Ratio in South Korea increased to 102.42 in the first quarter of 2025 from 102.15 in the fourth quarter of 2024. This dataset includes a chart with historical data for South Korea Price to Rent Ratio.

South Korea Rent Price Index: sa data was reported at 108.443 2015=100 in 2024. This records an increase from the previous number of 108.179 2015=100 for 2023. South Korea Rent Price Index: sa data is updated yearly, averaging 79.293 2015=100 from Dec 1985 (Median) to 2024, with 40 observations. The data reached an all-time high of 108.443 2015=100 in 2024 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.

House Price Index MoM in South Korea remained unchanged at -0.02 percent in May. This dataset includes a chart with historical data for South Korea House Price Index MoM.

As of January 2025, southeastern Seoul had the highest average selling price for apartments out of the general areas in the South Korean capital. Average apartment selling price stood at over *** billion South Korean won in southeastern Seoul that month.

Korea Median Housing Price: Apartments: Seoul Metropolitan Area data was reported at 46,353.002 KRW tt in Jun 2018. This records an increase from the previous number of 46,248.752 KRW tt for May 2018. Korea Median Housing Price: Apartments: Seoul Metropolitan Area data is updated monthly, averaging 34,501.214 KRW tt from Dec 2008 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 46,353.002 KRW tt in Jun 2018 and a record low of 32,223.738 KRW tt in Sep 2013. Korea Median Housing Price: Apartments: Seoul Metropolitan Area data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s Korea – Table KR.EB033: Median Housing Price: Kookmin Bank.

Korea Median Housing Price: Apartments: 6 Large Cities data was reported at 23,991.237 KRW tt in Nov 2018. This records a decrease from the previous number of 24,009.867 KRW tt for Oct 2018. Korea Median Housing Price: Apartments: 6 Large Cities data is updated monthly, averaging 18,283.086 KRW tt from Dec 2008 (Median) to Nov 2018, with 120 observations. The data reached an all-time high of 24,168.057 KRW tt in Sep 2017 and a record low of 12,743.770 KRW tt in Apr 2009. Korea Median Housing Price: Apartments: 6 Large Cities data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB033: Median Housing Price: Kookmin Bank.

Korea Median Housing Price: Apartments: 6 Large Cities: Gwangju data was reported at 18,270.274 KRW tt in Nov 2018. This records an increase from the previous number of 18,174.950 KRW tt for Oct 2018. Korea Median Housing Price: Apartments: 6 Large Cities: Gwangju data is updated monthly, averaging 16,028.350 KRW tt from Apr 2013 (Median) to Nov 2018, with 68 observations. The data reached an all-time high of 18,270.274 KRW tt in Nov 2018 and a record low of 12,602.957 KRW tt in May 2013. Korea Median Housing Price: Apartments: 6 Large Cities: Gwangju data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB033: Median Housing Price: Kookmin Bank.

Korea Median Housing Price: Apartments: Seoul data was reported at 75,385.127 KRW tt in Jun 2018. This records an increase from the previous number of 75,144.113 KRW tt for May 2018. Korea Median Housing Price: Apartments: Seoul data is updated monthly, averaging 50,069.349 KRW tt from Dec 2008 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 75,385.127 KRW tt in Jun 2018 and a record low of 46,442.776 KRW tt in Mar 2013. Korea Median Housing Price: Apartments: Seoul data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s Korea – Table KR.EB033: Median Housing Price: Kookmin Bank.

Graph and download economic data for Residential Property Prices for Republic of Korea (QKRN628BIS) from Q1 1975 to Q1 2025 about Korea, residential, HPI, housing, price index, indexes, and price.

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.

Average apartment purchase prices in South Korea stood at approximately *********** South Korean won in December 2024. Up to 2021, the mean selling price for apartments in the country had risen continuously, reaching a peak of ************** South Korean won before declining.

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 16.4 billion South Korean won. This price exceeded that of the second-most expensive apartment, creating a price gap of approximately 3.5 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 12.6 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.

Korea (DC) Apartment Rental Index: By Region: Seoul data was reported at 175.800 Dec1997=100 in Apr 2003. This records a decrease from the previous number of 176.200 Dec1997=100 for Mar 2003. Korea (DC) Apartment Rental Index: By Region: Seoul data is updated monthly, averaging 122.850 Dec1997=100 from Mar 1998 (Median) to Apr 2003, with 62 observations. The data reached an all-time high of 179.600 Dec1997=100 in Oct 2002 and a record low of 72.570 Dec1997=100 in Jul 1998. Korea (DC) Apartment Rental Index: By Region: Seoul data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s Korea – Table KR.EB074: Apartment Price & Rental Index (Discontinued).