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.

Graph and download economic data for Real Residential Property Prices for Republic of Korea (QKRR628BIS) from Q1 1975 to Q1 2025 about Korea, residential, HPI, housing, real, price index, indexes, and price.

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.

Key information about South Korea Gold Production

• South Korea Real Residential Property Price Index was reported at 107.433 2010=100 in Sep 2024.
• This records a decrease from the previous number of 107.786 2010=100 for Jun 2024.
• South Korea Real Residential Property Price Index data is updated quarterly, averaging 103.128 2010=100 from Mar 1975 to Sep 2024, with 199 observations.
• The data reached an all-time high of 151.349 2010=100 in Jun 1991 and a record low of 63.248 2010=100 in Mar 1975.
• South Korea Real Residential Property Price Index data remains active status in CEIC and is reported by Bank for International Settlements.
• The data is categorized under World Trend Plus’s Association: Property Sector – Table RK.BIS.RPPI: Selected Real Residential Property Price Index: 2010=100: Quarterly. [COVID-19-IMPACT]

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.

Residential Property Prices in South Korea decreased 0.14 percent in March of 2025 over the same month in the previous year. This dataset includes a chart with historical data for South Korea Residential Property Prices.

Korea (DC) Apartment Price Index data was reported at 144.100 Dec1997=100 in Nov 2002. This records an increase from the previous number of 143.000 Dec1997=100 for Oct 2002. Korea (DC) Apartment Price Index data is updated monthly, averaging 99.100 Dec1997=100 from Dec 1997 (Median) to Nov 2002, with 60 observations. The data reached an all-time high of 144.100 Dec1997=100 in Nov 2002 and a record low of 83.180 Dec1997=100 in Nov 1998. Korea (DC) Apartment Price Index 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).

As of December 2024, the mean purchase price of housing in Seoul, South Korea, amounted to around *** million South Korean won. The average price of detached houses amounted to around **** billion won while the price of apartments was about **** billion South Korean won. Apartments in South Korea Among all housing types, apartments are the most expensive, costing more than *** billion South Korean won on average. Living in apartments is typical for Seoul, as an increasing number of citizens move towards the city, causing high population density. As of 2022, more than ** percent of all households were living in apartments, excluding alternative housing, such as officetels or goshiwons. Gangnam Style Based on the average selling price of apartments in Seoul, Gangnam is the most expensive area in Seoul to live in, with an average sales price of around **** billion South Korean won. The area became internationally known due to the viral YouTube hit Gangnam Style by South Korean artist PSY. Since Gangnam is known for its wealthy citizens, the song was inspired by their mannerisms.

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).

Korea (DC) Apartment Price Index: By Region: Neighbouring City data was reported at 135.200 Dec1997=100 in Apr 2003. This records an increase from the previous number of 134.500 Dec1997=100 for Mar 2003. Korea (DC) Apartment Price Index: By Region: Neighbouring City data is updated monthly, averaging 95.650 Dec1997=100 from Mar 1998 (Median) to Apr 2003, with 62 observations. The data reached an all-time high of 135.200 Dec1997=100 in Apr 2003 and a record low of 82.410 Dec1997=100 in Jul 1998. Korea (DC) Apartment Price Index: By Region: Neighbouring City 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).

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.

Korea (DC) Apartment Price Index: By Size: Under 152 Sq M data was reported at 132.300 Dec1997=100 in Nov 2002. This records an increase from the previous number of 130.800 Dec1997=100 for Oct 2002. Korea (DC) Apartment Price Index: By Size: Under 152 Sq M data is updated monthly, averaging 97.700 Dec1997=100 from Dec 1997 (Median) to Nov 2002, with 60 observations. The data reached an all-time high of 132.300 Dec1997=100 in Nov 2002 and a record low of 81.860 Dec1997=100 in Nov 1998. Korea (DC) Apartment Price Index: By Size: Under 152 Sq M 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 July. This dataset provides - South Korea House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, residential housing prices in South Korea increased by around **** percent year-on-year. This was a tentative sign of recovery from the significant drops seen in the two years prior.

Korea (DC) Apartment Price Index: By Size: Under 86 Sq M data was reported at 159.500 Dec1997=100 in Nov 2002. This records an increase from the previous number of 159.000 Dec1997=100 for Oct 2002. Korea (DC) Apartment Price Index: By Size: Under 86 Sq M data is updated monthly, averaging 99.800 Dec1997=100 from Dec 1997 (Median) to Nov 2002, with 60 observations. The data reached an all-time high of 159.500 Dec1997=100 in Nov 2002 and a record low of 84.420 Dec1997=100 in Nov 1998. Korea (DC) Apartment Price Index: By Size: Under 86 Sq M 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).

The South Korean luxury real estate market, valued at $43.56 billion in 2025, is poised for robust growth, projected to achieve a Compound Annual Growth Rate (CAGR) of 10% from 2025 to 2033. This expansion is driven by several key factors. Firstly, a rising high-net-worth individual (HNWI) population in South Korea, fueled by economic growth and a thriving tech sector, is increasing demand for premium properties. Secondly, the increasing preference for larger, more luxurious homes, particularly in prime locations like Seoul and Busan, is a significant driver. Finally, government policies aimed at stimulating the economy, though potentially impacting affordability in some segments, indirectly support the luxury market by bolstering overall economic confidence. The market is segmented by property type (apartments & condominiums, villas & landed houses) and city (Seoul, Busan, other cities), with Seoul and Busan consistently commanding the highest prices due to their central location and established infrastructure. Major players like Samsung C&T Corporation, Bando Engineering & Construction, and Ssangyong Engineering & Construction are shaping the market through high-end development projects. While the market shows strong potential, challenges like fluctuating interest rates and potential government regulations aimed at controlling property prices could pose some restraints to growth in the coming years. However, the long-term outlook for the South Korean luxury real estate market remains positive due to the continued growth of the affluent population and sustained demand for upscale properties. The international influence on South Korea's luxury real estate market is noticeable, but currently secondary to domestic demand. While data on specific regional contributions isn't provided, it's reasonable to assume that Asia-Pacific regions, particularly those with strong economic ties to South Korea, contribute significantly to foreign investment in luxury properties. North American and European investors also likely play a role, though potentially to a lesser degree compared to other Asian markets. The presence of established global developers also highlights the international appeal of the market. Further research would be needed to quantify the precise influence of each region, but the trend towards globalization points to a gradual increase in international investment over the forecast period. Future analysis may consider factors like exchange rate fluctuations and global economic conditions, as they impact foreign investors' participation. Unlocking the Potential: A Deep Dive into South Korea's Luxury Real Estate Market (2019-2033) This comprehensive report provides an in-depth analysis of South Korea's burgeoning luxury real estate market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, the report offers valuable insights for investors, developers, and industry professionals seeking to navigate this dynamic sector. High-search-volume keywords such as South Korea luxury apartments, Seoul luxury real estate, Busan luxury villas, and Korean luxury property investment are strategically integrated throughout the report to maximize search engine optimization (SEO). Key drivers for this market are: 4., South Korea's status as a global business hub can attract expatriates and foreign executives seeking high-end accommodation options4.; Incorporating advanced technology and smart home features making luxury properties more appealing to tech-savvy buyers. Potential restraints include: 4., Lack of foreign investment4.; Stricter government regulation inhibiting the growth. Notable trends are: Reduction in prices creating demand for low-priced luxury real estate.

Real residential property prices Y-on-Y, percent change in South Korea, March, 2025 The most recent value is -2.2 percent as of Q1 2025, a decline compared to the previous value of -1.65 percent. Historically, the average for South Korea from Q1 1990 to Q1 2025 is -0.47 percent. The minimum of -17.7 percent was recorded in Q3 1998, while the maximum of 14.39 percent was reached in Q2 2002. | TheGlobalEconomy.com

The South Korea luxury residential real estate market continues to establish itself as a premier investment destination in Asia, attracting both domestic and international high-net-worth individuals seeking premium properties. The market has demonstrated remarkable resilience despite global economic uncertainties, driven by limited supply in prime locations and sustained demand from affluent buyers. The expanding luxury segment propelled the market size to exceed USD 42.8 Billion in 2024 and is projected to reach a valuation of USD 76.5 Billion by 2032.The strategic location of South Korea, combined with its stable political environment and strong economic fundamentals, continues to attract luxury property investors from neighboring Asian countries and beyond. These favorable investment conditions enable the market to grow at a CAGR of 7.52% from 2026 to 2032.

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.

South Korea Residential Real Estate Market was valued at USD 81 Billion in 2023 and is projected to reach USD 107 Billion by 2031 growing at a CAGR of 3.5% from 2024 to 2031.

South Korea Residential Real Estate Market Definition/Overview

Residential real estate encompasses properties designated for housing, including single-family homes, apartments and condominiums. It differs from commercial or industrial real estate, focusing solely on spaces where people live. Residential real estate serves as a primary investment type, offering both rental income and long-term value appreciation. Primarily, residential real estate provides shelter and a comfortable living space. It's also a means for wealth creation, as property owners can generate rental income or benefit from rising property values.

Residential properties further support communities, offering stability, amenities and spaces for families to grow and thrive.