In 2024, there were just over *********** housing transactions in South Korea, up from about the ******* seen in the two years prior. The number of housing transactions in South Korea has notably decreased since 2020. Housing in South Korea There are around ** million housing units and counting for the more than ** million people living in South Korea. Given the mountainous topography of the peninsula and the imbalance in population density between urban and rural areas, there is limited space for constructing houses. Apartments make up most of the housing in the country as they allow for the vertical stacking of housing units. Housing outside of Seoul Detached houses have become more expensive over the years as people want space in Seoul and the surrounding areas. Many people who can afford to commute have purchased houses in the South Korean province of Gyeonggi, which is just outside the Seoul metropolitan area. The island of Jeju, below the southern coast, is also a popular holiday and retirement destination. Far less dense than the capital, detached houses constitute the highest number of housing units on the island.

Among heads of households in their seventies in South Korea, about ** percent owned homes in 2022, followed by those in their sixties at around ** percent. According to the source, the homeownership rate overall that year was ** percent. Decreasing housing purchases There has been a decline in apartment prices, as the prices have averaged over ************ South Korean won per square meter and surpassed ** million won in the capital city of Seoul. This decline has partly led to lower housing transactions, with the volume of housing transactions dropping below ***********. Since 2021, the sales price index for housing purchases in South Korea has experienced a sharp decline. Living in South Korea There has been a slight increase in living space per person despite the high population density in South Korean cities. While most households live in high-rise apartments with **** or more stories, only a fraction live in stand-alone houses. Nonetheless, most Koreans in their thirties believe they should own their own house, though financial factors may make this difficult to achieve.

The South Korean residential real estate market, valued at $345.19 million in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 13.07% from 2025 to 2033. This expansion is driven by several factors. Firstly, a growing population, particularly in urban centers like Seoul, fuels increasing demand for housing. Secondly, government initiatives aimed at improving infrastructure and incentivizing homeownership contribute significantly to market expansion. Furthermore, a strengthening economy and rising disposable incomes empower more individuals to invest in residential properties. The market is segmented by property type (apartments and condominiums, landed houses and villas) and geography (Seoul and other locations), with Seoul expected to command a larger share due to its concentration of economic activity and population density. Competition is fierce amongst major players like Korea Land and Housing Corporation, Hines, and ShinYoung Greensys, leading to innovative developments and competitive pricing strategies. Potential restraints include government regulations on land usage, fluctuations in interest rates impacting mortgage accessibility, and global economic uncertainties that may influence investment flows. Despite these potential challenges, the long-term outlook for the South Korean residential real estate market remains positive. The continued urbanization trend and sustained economic growth are expected to counterbalance the restraining factors, ensuring consistent market expansion throughout the forecast period. The dominance of large developers combined with the increasing demand from a growing middle class will likely lead to a sustained period of elevated construction activity and transaction volumes. Furthermore, the focus on sustainable and technologically advanced housing solutions will likely shape future developments, creating opportunities for companies specializing in green building technologies and smart home integration. The market’s performance will closely track South Korea's overall economic health and government policies regarding housing affordability and urban planning. This report provides a detailed analysis of the South Korea residential real estate market, covering the period from 2019 to 2033. It examines market dynamics, trends, and future prospects, incorporating data from the historical period (2019-2024), base year (2025), and forecast period (2025-2033). The report is invaluable for investors, developers, policymakers, and anyone seeking a comprehensive understanding of this dynamic market. High-impact keywords such as South Korea real estate, Seoul apartments, Korean housing market, modular housing Korea, and residential real estate investment Korea are strategically integrated for enhanced search engine optimization. Recent developments include: January 2023: International architecture office KPF has unveiled the design for Parkside Seoul, a new mixed-use neighborhood planned for the South Korean capital to complement the surrounding natural elements and pay homage to Yongsan Park. The 482,600 square meter development is composed of a layered exterior envelope encompassing various programs and public amenities to enhance the residents’ experience of space. Besides the residential units, the complex includes office and retail spaces, hospitality facilities, and public and green spaces., April 2023: Korea’s GS E&C has launched its premium modular housing division, XiGEIST. GS E&C is a global entity that spans civil engineering, building, oil & gas, power plants, and renewable energy. They already own a high-end apartment brand, Xi, and they’re not new to the modular housing market, with acquisitions of some significant modular home companies in Poland, Britain, and the USA in recent years. Their modular homes will be manufactured at the company’s recently opened automated panelised prefabrication plant in South Korea, where they hope to achieve a 30% reduction in construction time, with a delivery timeline of eight weeks.. Key drivers for this market are: Government's Plans to Supply New Homes. Potential restraints include: Rising Interest Rates. Notable trends are: Urbanization in the Country is Driving the Market.

This dataset contains 500 entries of housing price data from various countries, regions, and cities worldwide, making it ideal for machine learning models and real estate market analysis. The dataset covers diverse geographic locations, including:

North America: USA, Canada, Mexico
Europe: Germany, France, UK, Italy, Spain
Asia: Japan, China, India, South Korea
Other Regions: Australia, Brazil, South Africa

Columns Included:

Country: The country where the house is located (e.g., USA, Japan, India).
State/Region: The state or region within the country (e.g., California, Bavaria).
City: The city where the property is located (e.g., Los Angeles, Tokyo).
Square Footage (SqFt): The size of the house in square feet (ranging from 500 to 5000 sq ft).
Bedrooms: The number of bedrooms in the house (ranging from 1 to 6).
Population Density: The population density of the area (people per sq km).
Price of House: The price of the house (in local currency, converted to USD where applicable).

This dataset can be used for:

Machine Learning Models: Training and evaluating models for house price prediction.
Market Analysis: Analyzing housing trends across different regions and countries.
Visualization: Creating insightful visualizations to understand price distributions and regional variations.

This dataset provides a balanced mix of geographic diversity and housing features for robust predictive modeling and analysis.

In 2024, Seoul had the highest population density of all provinces in South Korea, with about ****** people per square kilometer. The port city of Busan, which lies 300 kilometers southeast of Seoul, followed with about ***** residents per square kilometer. With 90 people per square kilometer, Gangwon was the province with the lowest population density. Population of Seoul The capital of South Korea, Seoul, is the country's largest city with a population of nearly 9.5 million people, meaning that about 20 percent of South Korea's total population live in Seoul. Together with the surrounding Gyeonggi Province and Incheon Metropolitan Area, the greater Seoul region (or Seoul Capital Area) is home to half of the total population of South Korea. This region also forms one of the largest metropolitan areas in the world. Solving the problem of overpopulation in Seoul One of the major problems stemming from overpopulation in Seoul is the housing shortage, leading to a significant surge in real estate prices. Over the past few years, several efforts have been made to curb the excessive population concentration and to solve the associated economic and social problems. In 2007, for example, former President Roh Moo-hyun attempted to move the country's administrative capital to Sejong, which is located 120 kilometers south of Seoul. Although the grand plan did not fully work out, around 40 central administrative agencies have since been moved from Seoul to Sejong, turning the city into the de facto administrative capital of South Korea.

The Asia-Pacific prefabricated housing market, currently experiencing robust growth with a CAGR exceeding 6%, presents a significant investment opportunity. Driven by factors such as increasing urbanization, rapid infrastructure development, and a growing need for affordable and sustainable housing solutions, the market is projected to witness substantial expansion throughout the forecast period (2025-2033). The single-family segment is expected to dominate, fueled by rising disposable incomes and a preference for individual homes, particularly in countries like Australia, Japan, and South Korea. However, the multifamily segment will also see considerable growth, primarily driven by increasing population density in major metropolitan areas across the region. Key players like Sekisui House, Daiwa House Industry, and Shanghai Star House are leveraging technological advancements and innovative designs to cater to this evolving demand, focusing on faster construction times and improved energy efficiency. Government initiatives promoting sustainable construction practices and affordable housing further bolster market prospects. Challenges remain, including the need to overcome regulatory hurdles and public perception regarding the quality and durability of prefabricated structures in some markets. Nevertheless, the overall trajectory suggests a positive outlook for this dynamic industry. The market's strong performance is primarily attributed to several key drivers. Firstly, the rapid urbanization across the Asia-Pacific region is driving up housing demand, making prefabricated housing an attractive solution due to its speed and efficiency. Secondly, governments across the region are increasingly promoting sustainable construction practices, which aligns perfectly with the eco-friendly nature of prefabricated housing. Furthermore, the relatively lower cost compared to traditional construction methods makes prefabricated housing an appealing option for both developers and consumers. While there are challenges such as overcoming regulatory barriers and addressing potential supply chain issues, these factors are expected to be mitigated by increasing market maturity and technological advancements, leading to a continued expansion of the Asia-Pacific prefabricated housing market over the next decade. The diverse range of companies involved, spanning from established giants to innovative startups, ensures competitiveness and ongoing innovation within the sector. Recent developments include: Jan 2023: Apex Modular, a joint venture between JAT Property Group and Apex Asia Holdings in Sri Lanka, was recently appointed the Licensed Manufacturer for Estonian-based Mobile Module Supplier for LTG Lofts. Apex Modular was chosen as the most appropriately qualified and certified manufacturer for LTG's spectacular, retro-futuristic 'coodo moon' housing units for the Asian market, and it is expected to complete the first coodo Resort in Sri Lanka, which is set to open in Q2 2023. Coodo moon housing units are intended to become the most sought-after modern mobile home units, adaptable to a variety of regional climates and weather conditions., Nov 2022: As part of the Housing and Development Board's (HDB) initiative to pilot the latest construction technologies, an upcoming Build-to-Order (BTO) project in Tengah town will feature "beamless" flats with more headroom and flexibility to configure layouts. Garden Waterfront I and II at Tengah, launched in November 2022 as part of HDB's Construction Transformation Project, will use a slew of innovations in the design, fabrication, and construction of approximately 2,000 units.. Key drivers for this market are: Increase in GDP contribution from Construction Industry, Increase in Number of Building Permits. Potential restraints include: High Initial Investments. Notable trends are: Increasing Demand for Housing Driving the Market.

In 2023, around *** million buildings in South Korea were residential buildings while around *** million buildings were built for commercial purposes. Residential buildings The number of residential buildings had been increasing until 2019. In the past decade, the number of construction permits for residential buildings has declined overall. Among all provinces in South Korea, the province of Gyeonggi saw the highest number of residential buildings. Apartment buildings Especially in urban areas, many South Koreans live in apartments. On average, more than half of all households were living in apartments, with the share increasing over the past decade. Due to the high population density, high-rise residential buildings are typical for urban areas.

Capsule Apartment Market Outlook

The global capsule apartment market size was valued at approximately USD 1.2 billion in 2023 and is projected to reach around USD 2.8 billion by 2032, growing at a robust CAGR of 10.2% during the forecast period. This significant growth can be attributed to a myriad of factors, including urbanization, the rising cost of living, and evolving consumer preferences for affordable and efficient living spaces. The burgeoning demand for convenient and cost-effective accommodation options in densely populated cities is propelling market expansion.

The surge in urban populations across the globe is one of the foremost growth drivers for the capsule apartment market. As cities become more crowded, the space for traditional housing diminishes, leading to skyrocketing real estate prices. Capsule apartments offer a solution by maximizing the use of limited space, providing essential living amenities within compact units. This urbanization trend is particularly pronounced in Asia-Pacific regions where the population density is highest, thereby sparking significant demand for such accommodation.

Another key factor driving the market is the escalating rental costs in metropolitan areas. The cost of traditional housing has become increasingly prohibitive, especially for young professionals and students. Capsule apartments provide a more economical alternative without compromising on basic living standards. These units are furnished, often with shared amenities like kitchens and bathrooms, which makes them an attractive option for individuals looking to save on living expenses while still residing near work or educational institutions.

Technological advancements and innovative designs are also contributing to market growth. Modern capsule apartments are equipped with smart technologies and space-saving solutions that enhance the living experience. Features like automated lighting, climate control, and high-speed internet are becoming standard, making these compact living spaces more appealing to tech-savvy consumers. The integration of such technologies not only improves comfort but also adds value, thus boosting market adoption.

In recent years, the concept of Spa Capsules has emerged as an innovative addition to the wellness and hospitality sectors. These capsules are designed to provide a compact yet luxurious spa experience, often integrated within capsule apartments or hotels. The idea is to offer guests a private and relaxing space where they can enjoy various spa treatments without leaving the premises. This integration not only enhances the overall appeal of capsule accommodations but also adds a unique selling point, attracting health-conscious travelers and residents seeking relaxation and rejuvenation in a bustling urban environment.

On a regional scale, the Asia-Pacific region holds a dominant position in the capsule apartment market. With its high population density and rapid urbanization, countries like Japan, China, and South Korea are at the forefront of market growth. North America and Europe are also witnessing increasing adoption, driven by the rising trends of minimalistic living and the influx of tourists seeking budget accommodation. The Middle East & Africa and Latin America are emerging markets, showing considerable potential due to growing urban populations and tourism.

Type Analysis

The capsule apartment market can be segmented based on type into Single Capsule, Double Capsule, and Suite Capsule. Single capsules are the most common, offering compact yet functional living spaces for individuals. These units are particularly popular among students and workers who require affordable accommodation in urban areas. The demand for single capsules is expected to remain robust, driven by the continual influx of young professionals and students into cities.

Double capsules, which offer slightly larger spaces suitable for two occupants, are gaining traction. These units are ideal for couples or friends who wish to share accommodation while maintaining some level of privacy. The growing trend of co-living among young adults and the need for affordable housing options for couples in urban areas are key factors driving the demand for double capsules. These units provide a balance between cost-efficiency and comfort, making them a popular choice.

Suite capsules are a relatively new entrant in the market, offering a more luxurious and s

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driven primarily by high birth rates in developing countries and advancements in healthcare. According to the United Nations, the global population surpassed 8 billion in 2023, marking a critical milestone in human history. This growth, however, is unevenly distributed across continents and countries, leading to varied population densities and urban pressures.

Surface area and population density play vital roles in shaping the demographic and economic landscape of each country. For instance, countries with large land masses such as Russia, Canada, and Australia have low population densities despite their significant populations, as vast portions of their land are sparsely populated or uninhabitable. Conversely, nations like Bangladesh and South Korea exhibit extremely high population densities due to smaller land areas combined with large populations.

Population density, measured as the number of people per square kilometer, affects resource availability, environmental sustainability, and quality of life. High-density areas face greater challenges in housing, infrastructure, and environmental management, often experiencing increased pollution and resource strain. In contrast, low-density areas may struggle with underdeveloped infrastructure and limited access to services due to the dispersed population.

Urbanization trends are another important aspect of these dynamics. As people migrate to cities seeking better economic opportunities, urban areas grow more densely populated, amplifying the need for efficient land use and sustainable urban planning. The UN reports that over half of the world’s population currently resides in urban areas, with this figure expected to rise to nearly 70% by 2050. This shift requires nations to balance population growth and density with sustainable development strategies to ensure a higher quality of life and environmental stewardship for future generations.

Through an understanding of population size, surface area, and density, policymakers can better address challenges related to urban development, rural depopulation, and resource allocation, supporting a balanced approach to population management and economic development.

Lithium-Ion Battery Housing Cases Market Outlook

The global lithium-ion battery housing cases market size was valued at approximately USD 1.5 billion in 2023 and is projected to reach USD 3.2 billion by 2032, growing at a compound annual growth rate (CAGR) of 8.7% during the forecast period. The market's significant growth is driven by the rising adoption of electric vehicles (EVs), increasing demand for consumer electronics, and the growing emphasis on renewable energy storage solutions. Additionally, advancements in battery technology and the need for sustainable energy storage are crucial factors contributing to the expansion of this market.

One of the primary growth factors for the lithium-ion battery housing cases market is the surging demand for electric vehicles (EVs). Governments worldwide are implementing stringent regulations to reduce carbon emissions, which has led to increased investment and consumer interest in EVs. Consequently, the automotive industry is experiencing a notable shift towards electric mobility, necessitating robust and efficient battery housing solutions. Manufacturers are focusing on developing lightweight and durable housing cases to enhance vehicle performance and safety, further propelling market growth.

Another significant driver is the rapid proliferation of consumer electronics. Smartphones, laptops, and other portable devices rely heavily on lithium-ion batteries, creating a substantial demand for efficient and safe battery housing cases. The growing consumer base for these devices, driven by technological advancements and increasing disposable income, bolsters the market. Additionally, the trend towards miniaturization and enhanced battery life in electronics compels manufacturers to innovate in battery housing technologies, ensuring safety and performance in compact designs.

The energy storage systems (ESS) sector also plays a crucial role in the market's expansion. With the global emphasis on renewable energy sources like solar and wind, there is a growing need for efficient energy storage solutions. Lithium-ion batteries are preferred due to their high energy density and longer life cycles, necessitating robust housing cases to ensure durability and safety. The integration of ESS into grids and residential applications to store energy and provide backup power further propels the demand for advanced battery housing cases.

The use of a Lithium Battery Aluminum Case has become increasingly important in the context of electric vehicles and energy storage systems. Aluminum cases offer a unique combination of lightweight properties and excellent thermal conductivity, which are crucial for maintaining the efficiency and safety of lithium-ion batteries. As electric vehicles demand more from their battery systems, the aluminum case provides a durable and efficient solution that supports high-performance requirements. This material not only enhances the structural integrity of the battery housing but also aids in effective heat dissipation, thereby prolonging the battery's lifespan and performance. The growing emphasis on reducing vehicle weight to improve efficiency further underscores the importance of aluminum in battery housing designs.

Regionally, Asia Pacific dominates the lithium-ion battery housing cases market, driven by the presence of major battery manufacturers and the rapid adoption of electric vehicles and consumer electronics. Countries like China, Japan, and South Korea are at the forefront of battery technology innovation and production. North America and Europe are also significant contributors to market growth, with substantial investments in EV infrastructure and renewable energy projects. These regions are witnessing increasing collaborations between automotive and battery manufacturers to develop sustainable and efficient battery housing solutions.

Material Type Analysis

The material type segment of the lithium-ion battery housing cases market is categorized into plastic, metal, and composite materials. Plastic housing cases are widely used due to their lightweight nature and cost-effectiveness. They offer good insulation properties and are easier to mold into complex shapes, making them a popular choice for portable consumer electronics. However, plastic's lower thermal and mechanical stability compared to metals and composites can b

Battery Housing Market Outlook

According to our latest research, the global battery housing market size reached USD 3.1 billion in 2024, driven by rapid advancements in battery technology and a surge in demand for electric vehicles (EVs), renewable energy storage, and portable consumer electronics. The market is expected to register a robust CAGR of 7.8% from 2025 to 2033, reaching an estimated value of USD 6.2 billion by 2033. This growth is primarily fueled by increased investments in clean energy infrastructure, rising adoption of lithium-ion batteries, and the expanding scope of battery applications across various industries.

The growth trajectory of the battery housing market is underpinned by several key factors, foremost among them being the exponential rise in electric vehicle adoption worldwide. As governments continue to tighten emission regulations and incentivize EV purchases, automakers are ramping up their production capacities, which in turn drives demand for advanced battery housings that provide safety, durability, and thermal management. Battery housings are essential components that protect battery cells from physical damage, environmental contaminants, and thermal runaway, making them critical for the functional integrity and longevity of modern battery systems. The shift towards lightweight and high-strength materials for battery enclosures has further intensified R&D efforts, resulting in innovative designs that enhance both performance and safety.

Another significant growth driver is the proliferation of stationary energy storage systems (ESS) for grid stabilization, renewable energy integration, and backup power solutions. As the global energy landscape transitions toward decentralized and renewable sources, the need for reliable and robust energy storage has never been greater. Battery housings play a pivotal role in protecting large-scale battery arrays from harsh environmental conditions, mechanical impacts, and fire hazards. The increasing deployment of ESS in residential, commercial, and utility-scale applications is expected to generate substantial demand for advanced battery housing solutions, particularly those made from corrosion-resistant and fire-retardant materials.

Consumer electronics represent another major avenue of growth for the battery housing market. With the proliferation of smartphones, laptops, wearables, and other portable devices, manufacturers are seeking battery housings that are not only compact and lightweight but also capable of dissipating heat efficiently and enhancing device safety. The trend towards miniaturization and the integration of high-capacity batteries in consumer devices is prompting the development of innovative housing materials and designs that maximize energy density while minimizing risk. This segment is expected to witness steady growth as consumer preferences shift towards smarter, more powerful, and longer-lasting devices.

From a regional perspective, Asia Pacific continues to dominate the battery housing market, accounting for the largest share in 2024, followed by North America and Europe. The region's leadership is attributed to its robust manufacturing ecosystem, particularly in China, Japan, and South Korea, which are home to the world’s leading battery and EV manufacturers. Government policies supporting clean energy and electrification, coupled with substantial investments in R&D, have positioned Asia Pacific as the epicenter of battery innovation. Meanwhile, North America and Europe are witnessing accelerated growth due to aggressive decarbonization targets, expansion of EV infrastructure, and the presence of leading automotive and technology companies investing heavily in battery technologies.

Material Type Analysis

The material type segment in the battery housing market is critical, as the choice of material directly impacts battery performance, safety, weight, and cost. Plastic remains a popular choice due to its lightweight nature, moldability, and relatively low cost, making it ideal for consumer electronics and certain automotive applications. Advanced engineeri

The global extruded polypropylene (XPP) foam market is projected to be valued at US$ 1.03 billion in 2024 and thereafter expand at a CAGR of 7.1% to double in valuation and end up at US$ 2.05 billion by 2034.

Country-wise Insights

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.