Authored by the expert who managed and guided the team behind the South Korea Property Pack
Yes, the analysis of Busan's property market is included in our pack
This guide covers everything you need to know about current housing prices in Busan, South Korea's vibrant coastal city.
We update this blog post regularly to make sure you always have access to the freshest data available.
Whether you're looking for an affordable entry point or a luxury sea-view apartment, you'll find clear price ranges and real examples below.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Busan.
Insights
- The median home price in Busan is around 560 million KRW (about $386,000), but prices in Haeundae's Marine City can reach 3.5 billion KRW, which is more than six times higher.
- Busan apartments typically sell for about 5% below their listing price, though this discount can stretch to 8% when financing costs are high and buyer sentiment is cautious.
- Smaller premium units under 60 square meters in top districts like Haeundae often have higher price-per-sqm than larger apartments because coastal views and walkability drive up demand.
- Buying an older property in Busan can add 10% to 20% on top of the purchase price once you factor in taxes, fees, and renovation work.
- New-build apartments in Busan command a premium of about 20% over existing homes, mainly because buyers value modern amenities, better parking, and lower maintenance risk.
- Entry-level properties in Busan start around 200 million KRW ($138,000) in districts like Sasang and Saha, where older villas and small apartments are common.
- Over the past decade, Busan housing prices have risen roughly 55% in nominal terms, but only about 30% when you adjust for inflation.
- High-rise apartments make up about 78% of Busan's residential market, making them the dominant property type by far.
What is the average housing price in Busan in 2026?
The median housing price is more useful than the average because it shows what a typical buyer actually pays, without being pulled up by a handful of very expensive luxury properties.
We are writing this as of January 2026, using the latest data collected from authoritative Korean government sources that we manually verified.
The median housing price in Busan in 2026 is approximately 560 million KRW, which converts to about $386,000 or €330,000. The average housing price in Busan is higher at around 620 million KRW (about $428,000 or €365,000), because luxury coastal properties push the average up.
About 80% of residential properties in Busan in 2026 are priced between 350 million KRW and 950 million KRW, or roughly $241,000 to $655,000.
A realistic entry point in Busan in 2026 is between 200 million and 280 million KRW ($138,000 to $193,000 or €118,000 to €165,000), which gets you an older small apartment or villa of 40 to 55 square meters in districts like Sasang or Saha.
A typical luxury property in Busan in 2026 costs between 1.5 billion and 3.5 billion KRW ($1.03 million to $2.41 million or €880,000 to €2.06 million), and for that you can expect a high-rise apartment of 120 to 180 square meters with sea views in Haeundae's Marine City or Centum City area.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Busan.
Are Busan property listing prices close to the actual sale price in 2026?
In Busan in 2026, properties typically sell for about 5% below their listing price, with the discount ranging from 2% to 8% depending on market conditions.
Sellers often build in negotiation room, especially when buyer sentiment is uncertain due to high financing costs and currency volatility that the Bank of Korea has been monitoring closely. The discount tends to be larger for older properties in less popular districts, while newer apartments in sought-after coastal areas may see smaller gaps between list and sale prices.
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What is the price per sq m or per sq ft for properties in Busan in 2026?
As of January 2026, the median housing price in Busan is about 6.8 million KRW per square meter ($4,690 or €4,000 per sqm), which works out to roughly 632,000 KRW per square foot ($436 or €370 per sqft). The average price is higher at 7.5 million KRW per square meter ($5,170 or €4,400 per sqm), or about 697,000 KRW per square foot ($481 or €410 per sqft).
Smaller premium units under 60 square meters in top districts like Haeundae and Suyeong have the highest price per square meter in Busan in 2026, while larger older units over 100 square meters in non-core districts have the lowest, because location prestige and building age matter more than raw size.
In Busan in 2026, the highest prices per square meter are found in Haeundae and Suyeong, ranging from 9 million to 15 million KRW per sqm. The lowest prices are in Saha, Sasang, and Buk-gu, where you can find properties at 3.8 million to 5.5 million KRW per sqm.
How have property prices evolved in Busan?
Compared to one year ago in January 2025, Busan housing prices have risen by about 3% in nominal terms, which is roughly 0.5% in real terms after accounting for inflation. This modest growth reflects tight financing conditions and the Bank of Korea's continued focus on financial stability.
Compared to ten years ago in January 2016, Busan housing prices have increased by approximately 55% in nominal terms, or about 30% when adjusted for inflation. This long-term growth was driven by a scarcity of quality apartments in prime coastal and transit-connected areas, combined with periods of low interest rates earlier in the decade.
By the way, we've written a blog article detailing the latest updates on property price variations in Busan.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Busan.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in South Korea versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What types of properties are available in Busan and how do prices vary in 2026?
In Busan in 2026, high-rise apartments make up about 78% of the market, followed by villas and low-rise buildings at 12%, detached houses at 6%, and residential officetels at 4%, because Korean urban housing is heavily dominated by apartment living due to limited land and strong demand for modern amenities.
A mainstream apartment of 59 to 84 square meters in Busan averages around 650 million KRW ($448,000 or €382,000). Villas and low-rise units of 40 to 70 square meters average about 320 million KRW ($221,000 or €188,000). Detached houses, where land value plays a bigger role, average around 900 million KRW ($621,000 or €529,000). Premium coastal apartments of 84 to 120 square meters go for about 1.2 billion KRW ($828,000 or €706,000), while luxury high-rises of 120 to 180 square meters in prime locations average 2.4 billion KRW ($1.66 million or €1.41 million).
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Busan?
- How much should you pay for an apartment in Busan?
- How much should you pay for a studio in Busan?
How do property prices compare between existing and new homes in Busan in 2026?
In Busan in 2026, new-build properties typically cost about 20% more than existing homes, with premiums ranging from 10% to 35% depending on the location and building quality.
This premium exists because newer buildings offer better parking, insulation, elevators, and amenities, and buyers see them as more liquid investments that are easier to resell later.
Buying real estate in Busan can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
How do property prices vary by neighborhood in Busan in 2026?
Haeundae, including Marine City and Centum City, is Busan's most expensive area and popular with international residents seeking modern towers and beach access. Prices here range from 900 million to 3.5 billion KRW ($620,000 to $2.41 million) because of sea views, premium amenities, and strong brand-name developments.
Suyeong, covering Gwangan and Namcheon, offers a coastal lifestyle with excellent cafes and connectivity, making it popular with young professionals and families. Prices typically range from 650 million to 1.8 billion KRW ($448,000 to $1.24 million), reflecting strong local prestige and beach proximity.
Busanjin, centered around the Seomyeon transit hub, provides central city living with lots of rental options and smaller units. Prices are more accessible at 350 million to 850 million KRW ($241,000 to $586,000), making it a practical choice for those prioritizing convenience over coastal views.
You will find a much more detailed analysis by areas in our property pack about Busan. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Type | Price Range (KRW / USD) | Per sqm (KRW / USD) | Per sqft (KRW / USD) |
|---|---|---|---|---|
| Haeundae (Marine City/Centum) | Expat / Luxury | 900M - 3.5B / $620k - $2.41M | 9.5M - 15M / $6,600 - $10,300 | 883k - 1.39M / $609 - $959 |
| Suyeong (Gwangan/Namcheon) | Coastal / Popular | 650M - 1.8B / $448k - $1.24M | 8.5M - 12.5M / $5,900 - $8,600 | 790k - 1.16M / $545 - $800 |
| Nam-gu (Daeyeon/Yongho) | Commute / Coastal | 500M - 1.4B / $345k - $966k | 7M - 10.5M / $4,800 - $7,200 | 651k - 975k / $449 - $672 |
| Dongnae (Oncheon/Myeongnyun) | Family / Schools | 450M - 1.1B / $310k - $759k | 6.5M - 9M / $4,500 - $6,200 | 604k - 836k / $417 - $577 |
| Yeonje (Yeonsan) | Commute / Value | 380M - 900M / $262k - $621k | 5.8M - 7.8M / $4,000 - $5,400 | 539k - 724k / $372 - $499 |
| Busanjin (Seomyeon) | Central / Popular | 350M - 850M / $241k - $586k | 5.5M - 8.2M / $3,800 - $5,700 | 511k - 762k / $352 - $525 |
| Geumjeong (Jangjeon) | Student / Budget | 280M - 650M / $193k - $448k | 4.5M - 6.5M / $3,100 - $4,500 | 418k - 604k / $289 - $417 |
| Buk-gu (Hwamyeong) | Family / Value | 300M - 700M / $207k - $483k | 4.8M - 6.8M / $3,300 - $4,700 | 446k - 632k / $308 - $436 |
| Sasang | Entry / Industrial | 200M - 520M / $138k - $359k | 3.8M - 5.5M / $2,600 - $3,800 | 353k - 511k / $244 - $352 |
| Saha (Hadan) | Entry / Value | 220M - 550M / $152k - $379k | 3.9M - 5.8M / $2,700 - $4,000 | 362k - 539k / $250 - $372 |
| Gangseo (Myeongji) | Newer Suburbs | 350M - 800M / $241k - $552k | 5M - 7M / $3,400 - $4,800 | 465k - 651k / $321 - $449 |
| Gijang-gun | Space / Houses | 400M - 1.2B / $276k - $828k | 4.8M - 8.5M / $3,300 - $5,900 | 446k - 790k / $308 - $545 |
How much more do you pay for properties in Busan when you include renovation work, taxes, and fees?
When you buy a property in Busan in 2026, expect to pay an additional 4% to 7% in taxes and fees on top of the purchase price, and if you need renovation work on an older property, your total cost can be 10% to 20% higher than the sticker price.
If you buy a property around $200,000 (about 290 million KRW) in Busan, you would pay roughly 14 million to 20 million KRW in taxes and fees. If it needs light renovation, add another 23 million to 29 million KRW, bringing your total to approximately 327 million to 339 million KRW ($225,000 to $234,000).
For a property around $500,000 (about 725 million KRW), taxes and fees would add roughly 29 million to 51 million KRW. With minimal renovation at 2% to 5%, you would spend an extra 15 million to 36 million KRW, making the all-in cost around 769 million to 812 million KRW ($530,000 to $560,000).
For a property around $1,000,000 (about 1.45 billion KRW), expect to pay 58 million to 102 million KRW in taxes and fees. With moderate renovation work, add another 73 million to 145 million KRW, for a total of approximately 1.58 billion to 1.70 billion KRW ($1.09 million to $1.17 million).
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Busan
| Expense | Category | Estimated Cost (KRW and USD) |
|---|---|---|
| Acquisition Tax | Taxes | This is the main tax you pay when buying property in Busan. It ranges from 1% to 3% of the purchase price depending on the property value and whether you already own other homes. For a 650 million KRW property, expect to pay 6.5 million to 19.5 million KRW ($4,500 to $13,400). |
| Local Education Tax | Taxes | This is a surtax calculated as a percentage of your acquisition tax. It adds roughly 0.1% to 0.3% to your total costs. For most transactions, this amounts to a few hundred thousand KRW ($200 to $800). |
| Registration Fee | Fees | This covers the legal registration of your ownership with the government. It typically runs 0.1% to 0.3% of the purchase price. On a 650 million KRW property, expect to pay 650,000 to 1.95 million KRW ($450 to $1,350). |
| Brokerage Commission | Fees | Real estate agents in Busan charge a commission based on the transaction value. This usually ranges from 0.3% to 0.9% depending on the price band and your negotiation. On a 650 million KRW property, expect to pay 2 million to 5.8 million KRW ($1,400 to $4,000). |
| Legal and Administrative Fees | Fees | These cover document preparation, title searches, and notary services. They are relatively small, usually 500,000 to 1.5 million KRW ($350 to $1,000). Some buyers hire a judicial scrivener to handle paperwork, which adds to this cost. |
| Basic Renovation | Renovation | Older apartments and villas in Busan often need updates like new flooring, paint, or fixture replacements. This typically costs 5% to 10% of the purchase price. For a 300 million KRW property, budget 15 million to 30 million KRW ($10,300 to $20,700). |
| Full Remodel | Renovation | A complete renovation including kitchen, bathroom, and layout changes costs significantly more. Expect to pay 10% to 15% or more of the purchase price. For a 650 million KRW property, this means 65 million to 98 million KRW ($45,000 to $67,500). |
We made this infographic to show you how property prices in South Korea compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Busan in 2026 with different budgets?
With $100,000 (about 145 million KRW) in Busan in January 2026, the market is very limited, but you might find a tiny older villa of about 35 square meters in Sasang, a very old small unit of 30 to 40 square meters in Saha, or possibly an auction property at below-market pricing.
With $200,000 (about 290 million KRW), you can buy a villa of 45 to 55 square meters in Hadan (Saha district), an older small apartment of 40 to 55 square meters in Sasang, or an older apartment of about 50 square meters in Geumjeong near the university area.
With $300,000 (about 435 million KRW), you can purchase an apartment of about 59 square meters in Yeonsan (Yeonje district), an apartment of similar size in Hwamyeong (Buk-gu), or a 50 to 60 square meter apartment on the fringe of Seomyeon in Busanjin.
With $500,000 (about 725 million KRW), you can afford an 84 square meter apartment in Daeyeon (Nam-gu), an 84 square meter apartment in Dongnae, or a newer 59 to 74 square meter apartment in Myeongji (Gangseo district).
With $1,000,000 (about 1.45 billion KRW), you can buy a premium apartment of 84 to 120 square meters in Gwangan or Namcheon (Suyeong district), a premium 84 to 120 square meter apartment in Centum (Haeundae), or a large renovated apartment of 120 square meters or more in top Dongnae or Nam-gu pockets.
With $2,000,000 (about 2.9 billion KRW), you enter Busan's luxury market where you can purchase a luxury high-rise of 120 to 180 square meters in Marine City (Haeundae), a luxury unit of 150 square meters or more in prime coastal Suyeong, or a trophy sea-view apartment of 150 square meters or more on Haeundae's beachfront line.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Busan.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Busan, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| Ministry of Land, Infrastructure and Transport (MOLIT) | This is the Korean government's official portal for legally filed home transaction records. | We used MOLIT as our ground truth for actual transaction prices in Busan. We referenced it to verify typical price ranges by district and property type. |
| Bank of Korea (BOK) ECOS | This is South Korea's central bank and its official economic statistics platform. | We used BOK ECOS to anchor our KRW to USD exchange rate at around 1,450 KRW per dollar. We also used it for inflation context through their CPI data. |
| Korea Real Estate Board (REB) | REB is Korea's official real estate statistics institution that runs the national house price survey. | We used REB's methodology to understand how official housing price trends are constructed. We triangulated their trend data with MOLIT transactions to estimate Busan's price levels. |
| X-Rates | This is a long-running foreign exchange reference site with transparent monthly average tables. | We used X-Rates to convert KRW amounts into EUR with a monthly average reference. We only used it for currency conversion, not for housing statistics. |
| Reuters | Reuters is a major international newswire that typically quotes primary sources like central bank statements. | We used Reuters to explain the macroeconomic context affecting Busan prices, including financing costs and won weakness. We did not use it as a primary source for price levels. |
| Korean Statistical Information Service (KOSIS) | KOSIS is the official government portal aggregating statistics from all Korean agencies. | We used KOSIS to cross-check population and housing stock data for Busan. We verified market composition figures against their census and survey data. |
| MOLIT Main Portal | The Ministry's main site publishes policy announcements and regulatory updates affecting housing. | We monitored MOLIT announcements for any policy changes that could affect Busan prices. We used their guidelines to understand tax and fee structures. |
| National Tax Service of Korea | This is Korea's official tax authority with definitive information on property-related taxes. | We referenced NTS guidelines to verify acquisition tax rates and related surtaxes. We used their official rate tables to estimate buyer costs. |
| Korea Housing Finance Corporation (HF) | HF is a government-backed corporation that publishes housing finance data and mortgage trends. | We used HF data to understand financing conditions affecting buyer behavior. We referenced their reports on mortgage rates and lending standards. |
| R-ONE Real Estate Information | R-ONE is a major Korean real estate data platform used by industry professionals. | We cross-referenced R-ONE listings to verify price ranges in specific neighborhoods. We used it to check that our estimates aligned with current market offerings. |
| Seoul Shinmun | Seoul Shinmun is a major Korean newspaper with regular real estate market coverage. | We reviewed their market reports for qualitative context on Busan buyer sentiment. We did not use newspaper figures as primary price data. |
| Korea Economic Daily | This is one of Korea's leading business newspapers with detailed property market analysis. | We reviewed their analyses for market trend commentary and expert opinions. We used their coverage to contextualize price movements. |
| Maeil Business Newspaper | Maeil is a top Korean business daily with regular real estate section coverage. | We checked their reports for Busan-specific market developments. We used their district-level coverage to verify neighborhood price patterns. |
| Naver Real Estate | Naver Real Estate is Korea's largest online property listing platform with comprehensive coverage. | We analyzed Naver listings to verify current asking prices across Busan neighborhoods. We compared listing prices to closed transaction data to estimate negotiation discounts. |
| Zigbang | Zigbang is a popular Korean real estate app with strong listing data for apartments and villas. | We cross-referenced Zigbang listings for smaller unit types like villas and studios. We verified entry-level price points using their search filters. |
| Hogangnono | Hogangnono provides historical transaction data and price trend charts for Korean apartments. | We used Hogangnono to verify historical price changes over one and ten year periods. We checked their data against MOLIT records for consistency. |
| Busan Metropolitan City Government | This is the official website of Busan's local government with city-specific data and policies. | We referenced Busan city data for local housing policy context. We used their statistics on urban development projects affecting different districts. |
| Korea Research Institute for Human Settlements (KRIHS) | KRIHS is a government research institute specializing in land, housing, and urban policy studies. | We reviewed KRIHS research papers for academic context on Korean housing markets. We used their analysis to understand long-term structural factors. |
| Korea Appraisal Board | The Appraisal Board provides official property valuations used for tax and transaction purposes. | We referenced their valuation standards to understand how properties are officially assessed. We used this context when discussing the gap between list and sale prices. |
| e-National Index (Korea) | This government portal aggregates key national statistics and economic indicators. | We used e-National Index for macroeconomic context including inflation and interest rate trends. We verified CPI data that we used for real price calculations. |
| International Monetary Fund (IMF) | The IMF provides authoritative international economic data and country reports. | We referenced IMF reports for Korea's overall economic outlook. We used their data to contextualize how global factors affect Busan's housing market. |
| World Bank | The World Bank publishes reliable international comparative economic data. | We used World Bank data for international context on Korean economic indicators. We referenced their urbanization and development statistics. |
| OECD | The OECD provides standardized housing market data across developed economies. | We referenced OECD housing statistics to compare Korean price trends with international benchmarks. We used their methodology standards to ensure our approach aligns with best practices. |
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