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.

As of October 2025, the mean purchase price of housing in Seoul, South Korea, amounted to around *** million South Korean won. The average price of apartments amounted to around **** billion won, while the price of detached houses 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.

Housing Index in South Korea increased to 94 points in October from 93 points in September of 2025. This dataset provides - South Korea House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

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.

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

South Korea Residential Real Estate Market is Segmented by Property Type (Apartments & Condominiums and Villas & Landed Houses), Price Band (Affordable, Mid-Market and Luxury), Mode of Sale (Primary and Secondary), Business Model (Sales and Rental) and Region (Seoul, Gyeonggi Province, Incheon, Busan, Other Metropolitan & Provincial Cities). The Market Forecasts are Provided in Terms of Value (USD).

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.

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.

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.

House Price Index MoM in South Korea increased to 0.30 percent in October from 0.10 percent in September of 2025. This dataset includes a chart with historical data for South Korea House Price Index MoM.

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.

The South Korea Luxury Residential Real Estate Market Report is Segmented by Business Model (Sales, Rental), by Property Type (Apartments & Condominiums, Villas & Landed Houses), by Mode of Sale (Primary New-Build, Secondary Existing-Home Resale), and by City (Seoul, Busan, Daegu, Incheon, Rest of South Korea). The Market Forecasts are Provided in Terms of Value (USD).

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

Key information about House Prices Growth

• South Korea house prices grew 0.7% YoY in Nov 2025, following an increase of 0.4% YoY in the previous month.
• YoY growth data is updated monthly, available from Jan 1987 to Nov 2025, with an average growth rate of 0.0%.

South Korea Residential Real Estate Market was valued at USD 42.8 Billion in 2024 and is projected to reach USD 76.5 Billion by 2032, growing at a CAGR of 7.52% from 2026 to 2032.South Korea Residential Real Estate Market Key DriversThe South Korean residential real estate market is one of the most dynamic and closely watched globally, heavily influenced by a unique intersection of demographic shifts, geographic constraints, and proactive government intervention. Understanding the core drivers of the South Korea residential real estate market is essential for investors, developers, and policymakers. The market's complexity is defined by factors ranging from the nation's aging society to cutting-edge technological adoption.Demographic & Household Structure Changes : A primary structural shift driving the Korea housing market trends is the rapid increase in single-person households, particularly in the Seoul metro area. Fueled by an aging population, delayed marriages, and declining birth rates, this demographic change is fundamentally reshaping housing demand, shifting the focus from large family apartments to smaller, more diverse unit types. Concurrently, the overall aging population creates a growing need for specialized, age-friendly housing, emphasizing accessible designs and community-focused infrastructure. This trend is compounded by ongoing urban migration, where more citizens move to high-density zones like Seoul, Busan, and Incheon, intensifying competition for residential units in already crowded metropolitan centers.Supply Constraints & Land Scarcity : The inherent scarcity of developable urban land, especially in major Korean cities, is a critical supply constraint that significantly amplifies pressure on the existing housing stock. This geographic limitation ensures a high demand-to-supply ratio. Furthermore, the high cost of land in highly desirable areas, particularly in coveted prime school zones, acts as a powerful lever, consistently driving up real estate value in these locations. As urban sprawl is limited, land scarcity remains a persistent, non-negotiable factor underpinning high property prices in the most sought-after districts.

Housing Price Index: Row Houses: Seoul Metropolitan Area data was reported at 123.284 Sep2003=100 in Dec 2007. This records an increase from the previous number of 122.417 Sep2003=100 for Nov 2007. Housing Price Index: Row Houses: Seoul Metropolitan Area data is updated monthly, averaging 94.136 Sep2003=100 from Jan 1999 (Median) to Dec 2007, with 108 observations. The data reached an all-time high of 123.284 Sep2003=100 in Dec 2007 and a record low of 76.416 Sep2003=100 in Jul 1999. Housing Price Index: Row Houses: Seoul Metropolitan Area data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB006: Housing Price Index: Kookmin Bank: Sep 2003=100.

South Korea real estate and smart housing market valued at USD 1,200 billion, driven by urbanization and tech integration, with growth in sustainable housing solutions.

As of January 2025, the mean jeonse price for housing in South Korea amounted to around *** million South Korean won. Figures were highest in Seoul, at around *** million South Korean won. Jeonse is a unique housing leasing system in South Korea. A large sum is paid to the landlord for the rental period, usually for two years. The deposit is returned to the tenants at the end of the two-year contract.