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.

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 February 2021, the average monthly rent for one-bedroom flats in Seoul, South Korea, amounted to around ******* South Korean won, up from about ******* South Korean won in the previous month. The average monthly rent for one-bedroom apartments in Seoul has shown an upward trend recently.

Living in Seoul In a metropolitan area like Seoul, housing is a scarce commodity, and prices are constantly rising as a result. The high population density of the capital, and the increasing trend to move towards the city to enjoy urban life is reflected in the housing situation. This can also be seen in the most common type of housing in Seoul, which is apartments. This is a general trend nationwide, with high-rise apartments over **** stories being the most frequent type of housing in South Korea.

Single-households are most prominent The most prominent type of household in South Korea is single households, as they make up more than ** percent of all domestic households. To aid this portion of the public, there are housing support programs single households can participate in. The share of participants for such programs was the highest in loans for housing leases. Other offered programs are subsidies for monthly rent or the supply of long-term public rental housing.

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 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 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.

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 (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).

The South Korean residential real estate market, valued at $345.19 million in 2025, is projected to experience robust growth, driven by factors such as increasing urbanization, a rising young population, and government initiatives to stimulate housing development. The Compound Annual Growth Rate (CAGR) of 13.07% from 2025 to 2033 indicates a significant expansion of the market. While the specific drivers and restraints aren't provided, we can infer that strong economic growth, coupled with favorable mortgage rates and infrastructural development within Seoul and other major cities, are likely contributing factors. Conversely, potential constraints could include land scarcity, particularly in prime locations like Seoul, stricter building regulations, and fluctuations in the national economy. The market segmentation reveals a preference for apartments and condominiums, likely due to their affordability and accessibility in urban centers. The presence of major players like Hyosung Corporation and Hyundai Development Company underscores the market’s maturity and the competition among established developers. Future growth is likely to be influenced by government policies aimed at addressing housing affordability and sustainable urban planning. The forecast period of 2025-2033 reveals a promising outlook, with projections suggesting a substantial increase in market value. The segmentation by geography highlights the dominance of Seoul in the market, reflecting its status as the nation's economic and cultural hub. The substantial presence of developers like Korea Land and Housing Corporation reflects both public and private sector involvement in shaping the residential landscape. This dynamic interplay of factors, combined with the projected CAGR, paints a picture of a thriving and evolving market where challenges and opportunities exist side-by-side. Careful consideration of regulatory changes, economic trends, and evolving consumer preferences will be crucial for successful navigation of the South Korean residential real estate market in the coming years. 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: Government's Plans to Supply New Homes. Notable trends are: Urbanization in the Country is Driving the Market.

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.

Korea Median Housing Price: Total: Seoul: Southern data was reported at 76,454.636 KRW tt in Jun 2018. This records an increase from the previous number of 76,386.608 KRW tt for May 2018. Korea Median Housing Price: Total: Seoul: Southern data is updated monthly, averaging 52,689.786 KRW tt from Dec 2008 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 76,454.636 KRW tt in Jun 2018 and a record low of 48,953.417 KRW tt in Apr 2013. Korea Median Housing Price: Total: Seoul: Southern 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.

In October 2022, the mean jeonse price of apartments with over *** square meters in Seoul, South Korea amounted to around **** billion 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, which is usually two years. The deposit is returned to the tenants at the end of the two-year contract.

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 the fourth quarter of 2024, the average rent for prime offices in the central business district (CBD) amounted to around ******* South Korean won per pyeong (*** square meters). The overall average rent for prime offices in Seoul business districts was around ******* South Korean won per pyeong.

Korea Median Housing Price: Total: Seoul: Northern data was reported at 45,849.060 KRW tt in Jun 2018. This records an increase from the previous number of 45,602.604 KRW tt for May 2018. Korea Median Housing Price: Total: Seoul: Northern data is updated monthly, averaging 35,874.193 KRW tt from Dec 2008 (Median) to Jun 2018, with 115 observations. The data reached an all-time high of 45,849.060 KRW tt in Jun 2018 and a record low of 34,194.713 KRW tt in Jan 2014. Korea Median Housing Price: Total: Seoul: Northern 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.

As of June 2024, the mean purchasing price for apartments larger than *** square meters in South Korea amounted to around **** billion South Korean won. According to the source, the average price for apartments of the same size in Seoul was more than twice as high at that time.

Korea Median Housing Price: Total: 6 Large Cities: Incheon data was reported at 21,320.232 KRW tt in Sep 2018. This records an increase from the previous number of 21,262.911 KRW tt for Aug 2018. Korea Median Housing Price: Total: 6 Large Cities: Incheon data is updated monthly, averaging 19,100.706 KRW tt from Apr 2013 (Median) to Sep 2018, with 66 observations. The data reached an all-time high of 21,331.862 KRW tt in Jan 2018 and a record low of 17,046.938 KRW tt in Sep 2013. Korea Median Housing Price: Total: 6 Large Cities: Incheon 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.

MHP: Seoul data was reported at 539,155.578 KRW th in Jun 2018. This records an increase from the previous number of 537,285.683 KRW th for May 2018. MHP: Seoul data is updated monthly, averaging 429,626.767 KRW th from Jan 2012 (Median) to Jun 2018, with 78 observations. The data reached an all-time high of 539,155.578 KRW th in Jun 2018 and a record low of 408,908.217 KRW th in Jan 2014. MHP: Seoul data remains active status in CEIC and is reported by Korea Appraisal Board. The data is categorized under Global Database’s Korea – Table KR.EB034: Median Housing Price: Korea Appraisal Board.

In 2024, the Penthouse Cheongdam apartments, located in the Gangnam district of Seoul, were the most expensive in South Korea, with an actual transaction value of around **** billion South Korean won. This price exceeded that of the second-most expensive apartment, creating a price gap of approximately *** billion won. The most expensive area in South Korea Seoul ranks as the most expensive city in South Korea. As of November 2023, the average apartment price in Seoul stood at around **** million won, about three times the national average. According to the housing affordability index, Seoul received the highest score nationwide. Within Seoul, the most expensive area was Gangnam, whose residents are known for their luxurious lifestyle. Increasing mortgage loans Since apartments constitute the majority of housing in South Korea, it is no surprise that most mortgage loans are granted for apartment purchases. Moreover, mortgage loans have steadily increased over the years, indicating a higher financial burden for housing, in line with the high housing affordability index. Despite the high housing prices, a survey revealed that most respondents thought housing prices would fall over the next year. Although this provides a relatively positive outlook for future developments, the current housing situation has left respondents with a negative impression of the current government’s real estate policies.

Korea Housing Price Index: Seoul data was reported at 140.400 Dec1995=100 in Jun 2003. This records an increase from the previous number of 139.500 Dec1995=100 for May 2003. Korea Housing Price Index: Seoul data is updated monthly, averaging 100.300 Dec1995=100 from Jan 1986 (Median) to Jun 2003, with 210 observations. The data reached an all-time high of 140.400 Dec1995=100 in Jun 2003 and a record low of 67.900 Dec1995=100 in Jul 1987. Korea Housing Price Index: Seoul 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.