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.

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.

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.

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.

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.

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.

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]

The South Korean luxury real estate market, valued at $43.56 billion in 2025, is experiencing robust growth, projected to maintain a Compound Annual Growth Rate (CAGR) of 10% through 2033. This expansion is fueled by several key factors. Firstly, a burgeoning high-net-worth individual (HNWI) population in South Korea, coupled with increasing disposable income, fuels demand for upscale properties. Secondly, Seoul's status as a global financial hub and a desirable location for international investors contributes significantly to market strength. The preference for prime locations within Seoul, particularly apartments and condominiums offering modern amenities and sophisticated designs, is driving segment growth. While villas and landed houses cater to a more exclusive clientele, their share remains comparatively smaller. Lastly, government initiatives aimed at boosting the economy and infrastructure development indirectly contribute to increased investor confidence, further stimulating market expansion. The presence of established construction giants like Samsung C&T Corporation and Daewoo Engineering & Construction underscores the market's maturity and professionalization. However, potential headwinds exist. Interest rate fluctuations and broader economic uncertainties could temper growth in the short term. Furthermore, stringent regulations surrounding foreign investment in real estate might act as a restraint, especially impacting international participation. Despite these challenges, the long-term outlook remains positive, driven by the underlying strength of the South Korean economy and the persistent appeal of luxury properties as a status symbol and investment vehicle. The market segmentation by city clearly illustrates Seoul's dominance; however, Busan and other emerging cities offer opportunities for diversification and future growth, promising a vibrant and dynamic market landscape in the coming years. Recent developments include: August 2023: A new development project calls for turning the Songdo International City R2 Block of the Incheon Free Economic Zone (IFEZ) into a "K-Contents City," according to local sources. As a shareholder in this development project, HYBE will see the construction of multiple expansive residential complexes throughout the city., September 2023: South Korea's real estate landscape as it comes to light that a mere 30 individuals have managed to acquire a staggering 8,000 homes in the country over the past five and a half years. These eyebrow-raising acquisitions, totaling nearly INR 7,446 crore (USD 0.89 billion), have raised concerns and questions about the state of the housing market and the potential implications for average citizens.. Key drivers for this market are: 4., South Korea's status as a global business hub can attract expatriates and foreign executives seeking high-end accommodation options4.2.1.2 Incorporating advanced technology and smart home features making luxury properties more appealing to tech-savvy buyers. Potential restraints include: 4., South Korea's status as a global business hub can attract expatriates and foreign executives seeking high-end accommodation options4.2.1.2 Incorporating advanced technology and smart home features making luxury properties more appealing to tech-savvy buyers. Notable trends are: Reduction in prices creating demand for low-priced luxury real estate.

South Korea Luxury Residential Real Estate Market Report is Segmented by Type (apartments and Condominiums, Villas, and Landed Houses) and Cities (Seoul, Busan, and Other Cities). The Report Offers the Market Size and Forecasts in Value (USD Billion) for all the Above Segments.

Real residential property prices Y-on-Y, percent change in South Korea, March, 2025 The most recent value is -2.2 percent as of Q1 2025, a decline compared to the previous value of -1.65 percent. Historically, the average for South Korea from Q1 1990 to Q1 2025 is -0.47 percent. The minimum of -17.7 percent was recorded in Q3 1998, while the maximum of 14.39 percent was reached in Q2 2002. | TheGlobalEconomy.com

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.

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.

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.

In 2023, the South Korea Real Estate Market reached a value of USD 306.2 million, and it is projected to surge to USD 552.7 million by 2030.

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.

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 real estate market size reached USD 12.4 Trillion in 2024. Looking forward, IMARC Group expects the market to reach USD 14.9 Trillion by 2033, exhibiting a growth rate (CAGR) of 2% during 2025-2033. The increasing technological advancements and smart city initiatives that can enhance the attractiveness of certain areas for both businesses and residents, are driving the market.

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on property, business, and mode.

korea - Residential Property Prices for Republic of Korea was 142.70050 Index 2010=100 in October of 2024, according to the United States Federal Reserve. Historically, korea - Residential Property Prices for Republic of Korea reached a record high of 154.12470 in April of 2022 and a record low of 6.26010 in January of 1975. Trading Economics provides the current actual value, an historical data chart and related indicators for korea - Residential Property Prices for Republic of Korea - last updated from the United States Federal Reserve on July of 2025.

South Korea Residential Real Estate Market was valued at USD 81 Billion in 2023 and is projected to reach USD 107 Billion by 2031 growing at a CAGR of 3.5% from 2024 to 2031.

South Korea Residential Real Estate Market Definition/Overview

Residential real estate encompasses properties designated for housing, including single-family homes, apartments and condominiums. It differs from commercial or industrial real estate, focusing solely on spaces where people live. Residential real estate serves as a primary investment type, offering both rental income and long-term value appreciation. Primarily, residential real estate provides shelter and a comfortable living space. It's also a means for wealth creation, as property owners can generate rental income or benefit from rising property values.

Residential properties further support communities, offering stability, amenities and spaces for families to grow and thrive.