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.

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.

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.

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.

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.

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.

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.

Korea Median Housing Price: Apartments: Seoul data was reported at 75,385.127 KRW tt in Jun 2018. This records an increase from the previous number of 75,144.113 KRW tt for May 2018. Korea Median Housing Price: Apartments: Seoul data is updated monthly, averaging 50,069.349 KRW tt from Dec 2008 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 75,385.127 KRW tt in Jun 2018 and a record low of 46,442.776 KRW tt in Mar 2013. Korea Median Housing Price: Apartments: Seoul 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.

Korea Housing Price Index: Apartments: Seoul Metropolitan Area data was reported at 136.961 Sep2003=100 in Dec 2007. This records an increase from the previous number of 136.843 Sep2003=100 for Nov 2007. Korea Housing Price Index: Apartments: Seoul Metropolitan Area data is updated monthly, averaging 97.126 Sep2003=100 from Jan 1999 (Median) to Dec 2007, with 108 observations. The data reached an all-time high of 136.961 Sep2003=100 in Dec 2007 and a record low of 53.216 Sep2003=100 in Jan 1999. Korea Housing Price Index: 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.EB006: Housing Price Index: Kookmin Bank: Sep 2003=100.

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.

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.

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 Housing Price Index: Seoul: Apartment House data was reported at 179.100 Dec1995=100 in Jun 2003. This records an increase from the previous number of 177.500 Dec1995=100 for May 2003. Korea Housing Price Index: Seoul: Apartment House data is updated monthly, averaging 168.900 Dec1995=100 from Feb 2002 (Median) to Jun 2003, with 17 observations. The data reached an all-time high of 179.100 Dec1995=100 in Jun 2003 and a record low of 145.500 Dec1995=100 in Feb 2002. Korea Housing Price Index: Seoul: Apartment House data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s Korea – Table KR.EB008: Housing Price Index: Kookmin Bank: Dec 1995=100.

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.

Korea Housing Price Index: Total: Seoul: Southern: Gangnam-gu data was reported at 105.018 Dec2008=100 in May 2011. This records a decrease from the previous number of 105.135 Dec2008=100 for Apr 2011. Korea Housing Price Index: Total: Seoul: Southern: Gangnam-gu data is updated monthly, averaging 102.678 Dec2008=100 from Sep 2003 (Median) to May 2011, with 93 observations. The data reached an all-time high of 106.505 Dec2008=100 in May 2008 and a record low of 72.737 Dec2008=100 in Jan 2005. Korea Housing Price Index: Total: Seoul: Southern: Gangnam-gu data remains active status in CEIC and is reported by Kookmin Bank. The data is categorized under Global Database’s South Korea – Table KR.EB004: Housing Price Index: Kookmin Bank: Dec 2008=100.

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.

Graph and download economic data for Consumer Price Index: OECD Groups: Services Less Housing: Housing Excluding Imputed Rentals for Housing for Korea (KORCPGRLH02GPQ) from Q2 1990 to Q3 2023 about imputed, Korea, rent, CPI, services, price index, indexes, and price.

The South Korean luxury real estate market, valued at $43.56 billion in 2025, is poised for robust growth, projected to achieve a Compound Annual Growth Rate (CAGR) of 10% from 2025 to 2033. This expansion is driven by several key factors. Firstly, a rising high-net-worth individual (HNWI) population in South Korea, fueled by economic growth and a thriving tech sector, is increasing demand for premium properties. Secondly, the increasing preference for larger, more luxurious homes, particularly in prime locations like Seoul and Busan, is a significant driver. Finally, government policies aimed at stimulating the economy, though potentially impacting affordability in some segments, indirectly support the luxury market by bolstering overall economic confidence. The market is segmented by property type (apartments & condominiums, villas & landed houses) and city (Seoul, Busan, other cities), with Seoul and Busan consistently commanding the highest prices due to their central location and established infrastructure. Major players like Samsung C&T Corporation, Bando Engineering & Construction, and Ssangyong Engineering & Construction are shaping the market through high-end development projects. While the market shows strong potential, challenges like fluctuating interest rates and potential government regulations aimed at controlling property prices could pose some restraints to growth in the coming years. However, the long-term outlook for the South Korean luxury real estate market remains positive due to the continued growth of the affluent population and sustained demand for upscale properties. The international influence on South Korea's luxury real estate market is noticeable, but currently secondary to domestic demand. While data on specific regional contributions isn't provided, it's reasonable to assume that Asia-Pacific regions, particularly those with strong economic ties to South Korea, contribute significantly to foreign investment in luxury properties. North American and European investors also likely play a role, though potentially to a lesser degree compared to other Asian markets. The presence of established global developers also highlights the international appeal of the market. Further research would be needed to quantify the precise influence of each region, but the trend towards globalization points to a gradual increase in international investment over the forecast period. Future analysis may consider factors like exchange rate fluctuations and global economic conditions, as they impact foreign investors' participation. Unlocking the Potential: A Deep Dive into South Korea's Luxury Real Estate Market (2019-2033) This comprehensive report provides an in-depth analysis of South Korea's burgeoning luxury real estate market, covering the period from 2019 to 2033. With a base year of 2025 and an estimated year of 2025, the report offers valuable insights for investors, developers, and industry professionals seeking to navigate this dynamic sector. High-search-volume keywords such as South Korea luxury apartments, Seoul luxury real estate, Busan luxury villas, and Korean luxury property investment are strategically integrated throughout the report to maximize search engine optimization (SEO). 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.; Incorporating advanced technology and smart home features making luxury properties more appealing to tech-savvy buyers. Potential restraints include: 4., Lack of foreign investment4.; Stricter government regulation inhibiting the growth. Notable trends are: Reduction in prices creating demand for low-priced luxury real estate.

Discover the booming South Korean residential real estate market! This in-depth analysis reveals a 13.07% CAGR from 2025-2033, driven by population growth, economic strength, and government initiatives. Learn about key players, market segmentation, and future trends in Seoul and beyond. 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.

Korea (DC) Apartment Rental Index: By Region: Seoul data was reported at 175.800 Dec1997=100 in Apr 2003. This records a decrease from the previous number of 176.200 Dec1997=100 for Mar 2003. Korea (DC) Apartment Rental Index: By Region: Seoul data is updated monthly, averaging 122.850 Dec1997=100 from Mar 1998 (Median) to Apr 2003, with 62 observations. The data reached an all-time high of 179.600 Dec1997=100 in Oct 2002 and a record low of 72.570 Dec1997=100 in Jul 1998. Korea (DC) Apartment Rental 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).