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.

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.

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 2024, the residential property price index in Seoul, the capital of South Korea, increased to around three 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 90 percent, rebounding from a decline in 2022. Similarly, the success rate of apartment auction bids showed dynamic trends, dropping to 14.2 percent in late 2022 before recovering to over 40 percent. Seoul boasted the highest mean purchase price for housing among all provinces of South Korea, with a gap of over 300 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 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.

The housing purchase price index in South Korea amounted to approximately 96 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 93 in the same period.

House price index in South Korea, March, 2025 The most recent value is 142.34 index points as of Q1 2025, a decline compared to the previous value of 142.7 index points. Historically, the average for South Korea from Q1 1990 to Q1 2025 is 94.16 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

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.

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.

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.

The housing purchase price index in South Korea amounted to around 96.4 index points as of January 2025, this was similar to that in the same month in the previous year. The housing purchase price index saw a decline of nearly five index points from 2022.

South Korea Housing Price Index: Jeju-do: Jeju data was reported at 100.132 Jan2022=100 in Apr 2025. This records a decrease from the previous number of 100.194 Jan2022=100 for Mar 2025. South Korea Housing Price Index: Jeju-do: Jeju data is updated monthly, averaging 80.169 Jan2022=100 from Sep 2003 (Median) to Apr 2025, with 260 observations. The data reached an all-time high of 101.351 Jan2022=100 in Sep 2022 and a record low of 64.620 Jan2022=100 in Dec 2008. South Korea Housing Price Index: Jeju-do: Jeju data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB003: Housing Price Index: Kookmin Bank: Jan 2022=100.

As of the third quarter of 2024, the housing affordability index in South Korea stood at around 61 points. The third quarter of 2022 saw the first drop in figures since 2020. The lower the index value, the more affordable a home is for a median-income household. Apartments in South Korea Average apartment prices in South Korea had risen for almost a decade before 2022. The country's popularity worldwide helped it become an economic powerhouse, attracting young workers from the countryside to large cities in hopes of taking part in or benefiting from this growth. As such, apartments are an attractive option for cities, optimizing space as they become more crowded. In terms of financing a new home, the leasehold deposit system exists as an alternative to traditional monthly rentals in Korea. Jeonse and leasehold deposits Jeonse is a leasehold deposit system in Korea where, instead of paying rent monthly, people pay a large deposit equivalent to a share of a property's value. In exchange, the person receives the right to reside in the property as a tenant for a limited amount of time. Granted, the up-front cost is high, and it is common to receive loans from banks to pay for the leasehold deposit. It had traditionally been a popular method as you could live in a housing unit without worrying about rent for one or two years. However, this system is slowly being phased out as interest rates, the large up-front cost, and cases of jeonse fraud have turned people away.

Housing Price Index: Seoul: Southern data was reported at 100.394 Jan2022=100 in Apr 2025. This records an increase from the previous number of 99.447 Jan2022=100 for Mar 2025. Housing Price Index: Seoul: Southern data is updated monthly, averaging 49.166 Jan2022=100 from Jan 1986 (Median) to Apr 2025, with 472 observations. The data reached an all-time high of 100.862 Jan2022=100 in Jul 2022 and a record low of 16.441 Jan2022=100 in Jul 1987. Housing Price Index: Seoul: Southern data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB003: Housing Price Index: Kookmin Bank: Jan 2022=100.

The price index for row house purchases was ***** index points in December 2024, a slight decrease compared to the same time the year before. The total housing purchase price index in South Korea had also decreased in the same time period.

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.

As of December 2022, the price index for apartment purchases was 98.15 index points, an eight-point drop from the same time the previous year. The housing purchase price index in South Korea had also seen a drop by multiple points in the same time frame.

Graph and download economic data for Consumer Price Index: OECD Groups: Housing: Housing Excluding Imputed Rentals for Housing for Korea (KORCPGRHO02GPM) from Feb 1990 to Nov 2023 about imputed, Korea, rent, CPI, price index, indexes, and price.

Key information about South Korea Real Residential Property Price Index Growth

• South Korea Real Residential Property Price Index Growth was reported at -2.360 % in Sep 2024.
• This records an increase from the previous number of -3.534 % for Jun 2024.
• South Korea Real Residential Property Price Index Growth data is updated quarterly, averaging 0.565 % from Mar 1976 to Sep 2024, with 195 observations.
• The data reached an all-time high of 37.719 % in Jun 1978 and a record low of -17.697 % in Sep 1998.
• South Korea Real Residential Property Price Index Growth 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: YoY %.

Graph and download economic data for Consumer Price Index: Services Less Housing for Korea (KORCPISXHMINMEI) from Jan 1990 to May 2018 about Korea, services, CPI, housing, price index, indexes, and price.