Graph and download economic data for Residential Property Prices for Republic of Korea (QKRN628BIS) from Q1 1975 to Q2 2025 about Korea, residential, HPI, housing, price index, indexes, and price.

In December 2024, the mean purchase price of housing in South Korea amounted to around *** million South Korean won. The mean purchase price of housing in Seoul was higher than any other city or province, standing at around *** million South Korean won.

Key information about House Prices Growth

• South Korea house prices dropped 0.2% YoY in Feb 2025, following a decrease of 0.2% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1987 to Feb 2025, with an average growth rate of 2.1%.
• House price data reached an all-time high of 21.9% in Aug 1988 and a record low of -13.1% in Nov 1998.

View quarterly updates and historical trends for South Korea Real House Price Index. Source: Federal Reserve Bank of Dallas. Track economic data with YCha…

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

Residential Property Prices in South Korea increased 0.11 percent in June of 2025 over the same month in the previous year. This dataset includes a chart with historical data for South Korea Residential Property Prices.

House price index in South Korea, June, 2025 The most recent value is 142.39 index points as of Q2 2025, an increase compared to the previous value of 142.34 index points. Historically, the average for South Korea from Q1 1990 to Q2 2025 is 94.5 index points. The minimum of 57.48 index points was recorded in Q4 1998, while the maximum of 154.12 index points was reached in Q2 2022. | TheGlobalEconomy.com

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.

House Price Index MoM in South Korea remained unchanged at 0.10 percent in August. This dataset includes a chart with historical data for South Korea House Price Index MoM.

In 2024, the residential property price index in Seoul, the capital of South Korea, increased to around ***** percent year-on-year. 2022 had seen a significant drop in residential property prices in Seoul. How much is a house in Seoul? Housing prices in Seoul have experienced significant fluctuations in recent years. Auction bid price rate for apartments surged to reach over ** percent, rebounding from a decline in 2022. Similarly, the success rate of apartment auction bids showed dynamic trends, dropping to **** percent in late 2022 before recovering to over ** percent. Seoul boasted the highest mean purchase price for housing among all provinces of South Korea, with a gap of over *** million South Korean won between Seoul and Gyeonggi. Property prices in South Korea South Korea's real estate market demonstrates dynamic trends shaped by numerous factors. Economic growth, urbanization, government policies, interest rates, and foreign investment all contribute significantly to fluctuations in housing prices. Notably, the mean purchase price for apartments sharply declined in 2022 and 2023 following years of exponential growth before. While the housing transaction volume in Korea saw a significant decrease in 2022, it recovered slightly in 2024. Given the high housing prices, many citizens believe that property prices will continue to fall in the coming year.

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 Median Housing Price: Total: 6 Large Cities: Incheon data was reported at 21,320.232 KRW tt in Sep 2018. This records an increase from the previous number of 21,262.911 KRW tt for Aug 2018. Korea Median Housing Price: Total: 6 Large Cities: Incheon data is updated monthly, averaging 19,100.706 KRW tt from Apr 2013 (Median) to Sep 2018, with 66 observations. The data reached an all-time high of 21,331.862 KRW tt in Jan 2018 and a record low of 17,046.938 KRW tt in Sep 2013. Korea Median Housing Price: Total: 6 Large Cities: Incheon 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.

According to a survey conducted in South Korea in January 2025, around ** percent of respondents stated that housing prices would fall over the next year. According to the source, most respondents in the previous year's survey had an overall negative opinion on the government's policies on real estate.

South Korea House Price Index: Real: sa data was reported at 92.299 2015=100 in 2024. This records a decrease from the previous number of 94.169 2015=100 for 2023. South Korea House Price Index: Real: sa data is updated yearly, averaging 100.000 2015=100 from Dec 1986 (Median) to 2024, with 39 observations. The data reached an all-time high of 160.193 2015=100 in 1990 and a record low of 76.676 2015=100 in 2001. South Korea House Price Index: Real: 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 deflated using the private consumption deflator from the national account statistics. More information on the nominal house prices are available on the nominal house price indicators selection.

The housing purchase price index in South Korea amounted to approximately ** index points as of December 2024, similar to that of the same month in the previous year. The purchase price index for apartments stood at around ** in the same period.

South Korea Price to Income Ratio: sa data was reported at 83.566 2015=100 in 2024. This records a decrease from the previous number of 84.915 2015=100 for 2023. South Korea Price to Income Ratio: sa data is updated yearly, averaging 118.198 2015=100 from Dec 1986 (Median) to 2024, with 39 observations. The data reached an all-time high of 409.198 2015=100 in 1986 and a record low of 83.566 2015=100 in 2024. South Korea Price to Income 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 nominal disposable income per head. Net household disposable income is used. The population data come from the OECD national accounts database.

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 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.

The price index for row house purchases was around *** index points in December 2024, an increase compared to the same time the year before. Figures increased by over *** points since 2015.

Korea Median Housing Price: Total data was reported at 31,356.406 KRW tt in Jun 2018. This records an increase from the previous number of 31,330.934 KRW tt for May 2018. Korea Median Housing Price: Total data is updated monthly, averaging 24,010.458 KRW tt from Dec 2008 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 31,356.406 KRW tt in Jun 2018 and a record low of 21,523.004 KRW tt in Mar 2009. Korea Median Housing Price: Total 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.