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.

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.

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.

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.

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

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.

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.

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.

As of January 2025, southeastern Seoul had the highest average selling price for apartments out of the general areas in the South Korean capital. Average apartment selling price stood at over *** billion South Korean won in southeastern Seoul that month.

South Korea Rent Price Index: sa data was reported at 108.443 2015=100 in 2024. This records an increase from the previous number of 108.179 2015=100 for 2023. South Korea Rent Price Index: sa data is updated yearly, averaging 79.293 2015=100 from Dec 1985 (Median) to 2024, with 40 observations. The data reached an all-time high of 108.443 2015=100 in 2024 and a record low of 36.533 2015=100 in 1985. South Korea Rent Price Index: 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.

Price to Rent Ratio in South Korea increased to 102.42 in the first quarter of 2025 from 102.15 in the fourth quarter of 2024. This dataset includes a chart with historical data for South Korea Price to Rent Ratio.

Korea Median Housing Price: Apartments: Seoul Metropolitan Area data was reported at 46,353.002 KRW tt in Jun 2018. This records an increase from the previous number of 46,248.752 KRW tt for May 2018. Korea Median Housing Price: Apartments: Seoul Metropolitan Area data is updated monthly, averaging 34,501.214 KRW tt from Dec 2008 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 46,353.002 KRW tt in Jun 2018 and a record low of 32,223.738 KRW tt in Sep 2013. Korea Median Housing Price: Apartments: Seoul Metropolitan Area 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.

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.

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.

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).

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 0.10 percent in July. This dataset includes a chart with historical data for South Korea House Price Index MoM.

Graph and download economic data for Consumer Price Index: Housing for Korea (KORCPIHOUAINMEI) from 1990 to 2017 about Korea, CPI, housing, price index, indexes, and price.

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.

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.