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
Thinking about buying a home in Busan right now? You're probably wondering if property prices in Busan are about to drop, or if waiting will cost you more.
We break down the real numbers behind Busan's housing market so you can see what's actually happening with prices, inventory, and buyer demand as of January 2026.
This article covers current housing prices in Busan and we constantly update it so you always have fresh data.
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.
So, is now a good time?
As of January 2026, it's rather yes a good time to buy property in Busan, but only if you pick the right neighborhood and negotiate hard.
The strongest signal is that Busan is sitting in a buyer-leaning market where weak subscriptions and unsold inventory give you real bargaining power.
Another strong signal is that borrowing rules like the stressed DSR cap how much buyers can bid, which keeps prices from running away even when sentiment improves.
Two big infrastructure projects (Gadeokdo New Airport and North Port redevelopment) offer genuine long-term upside, and reduced new apartment supply could tighten the market in prime areas.
The best strategy is to focus on well-managed apartments in high-demand areas like Haeundae or Suyeong, plan to hold for at least five years, and make sure rental income covers your carrying costs.
This is not financial or investment advice, we don't know your personal situation, and you should always do your own research before making any property decision.
Is it smart to buy now in Busan, or should I wait as of 2026?
Do real estate prices look too high in Busan as of 2026?
As of January 2026, property prices in Busan appear roughly in line with fundamentals, sitting somewhere between "not cheap" and "not peak," especially when compared to the faster-rising Seoul market.
One clear signal from listings data is the presence of unsold inventory and weak subscription rates in new developments, which suggests that Busan sellers are not in a position to demand top prices across the board.
Another supporting signal is the gap between "trophy" coastal properties in Haeundae and older stock in inland districts, where buyers are seeing meaningful price cuts and longer time-on-market, which shows that the market is far from uniformly hot.
You can also read our latest update regarding the housing prices in Busan.
Does a property price drop look likely in Busan as of 2026?
As of January 2026, the likelihood of a meaningful property price drop in Busan over the next 12 months is medium, with sharper declines more likely in investor-heavy officetels and aging villas than in well-located family apartments.
A plausible price change range for Busan over the next year is roughly minus 5% to plus 3%, depending heavily on neighborhood and property type.
The single most important macro factor that could increase the odds of a price drop in Busan is further credit tightening through the stressed DSR rules, which directly limits how much buyers can borrow and bid.
This factor is quite likely to persist because Korea's financial regulator (the FSC) has already committed to household debt management and is not signaling any near-term relaxation.
Finally, please note that we cover the price trends for next year in our pack about the property market in Busan.
Could property prices jump again in Busan as of 2026?
As of January 2026, the likelihood of a renewed price surge across all of Busan is low to medium, though select neighborhoods tied to major projects could see stronger gains.
A plausible upside scenario for Busan over the next 12 months is around 3% to 8% in the best-located apartments, particularly in areas like Marine City or Centum City in Haeundae-gu.
The single biggest demand-side trigger that could drive prices to jump again in Busan is a meaningful cut in the Bank of Korea's base rate, which would ease mortgage costs and unlock sidelined buyers.
Please also note that we regularly publish and update real estate price forecasts for Busan here.
Are we in a buyer or a seller market in Busan as of 2026?
As of January 2026, the overall market in Busan leans toward buyers, though sellers still hold leverage in a handful of premium coastal and school-district locations.
Busan's effective months-of-inventory is harder to pin down precisely than in Western markets, but signals like weak new-project subscriptions and rising unsold units suggest supply exceeds ready demand, which usually means buyers can negotiate.
The share of listings with price reductions is elevated in secondary districts and for smaller investor-oriented units like officetels, which tells us that many Busan sellers are having to come down to close deals.
We have made this infographic to give you a quick and clear snapshot of the property market in South Korea. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
Are homes overpriced, or fairly priced in Busan as of 2026?
Are homes overpriced versus rents or versus incomes in Busan as of 2026?
As of January 2026, homes in Busan look moderately stretched when comparing purchase costs to local incomes, though the picture is less severe than in Seoul and varies a lot by neighborhood.
The effective price-to-rent ratio in Busan (often expressed through the jeonse-to-sale ratio) has risen in recent years, but it remains more favorable for buyers than in the capital, meaning you get relatively more "home" for your money when comparing to rental costs.
The price-to-income multiple for a typical family apartment in Busan sits around 6 to 9 times gross household income, which is heavy but not extreme by Korean standards, where double-digit multiples are common in Seoul.
Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Busan.
Are home prices above the long-term average in Busan as of 2026?
As of January 2026, Busan property prices sit above their long-run historical average in nominal terms, but they are not near the extreme highs seen in the 2021 to 2022 period.
Over the past 12 months, Busan price changes have been modest and mixed by district, lagging the double-digit gains seen in Seoul and closer to the slow, pre-pandemic pace of around 1% to 3% annual movement.
When adjusted for inflation using BIS real residential price data, Busan appears to have corrected meaningfully from its prior cycle peak, meaning much of the recent "high price" feeling comes from inflation rather than true overheating.
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What local changes could move prices in Busan as of 2026?
Are big infrastructure projects coming to Busan as of 2026?
As of January 2026, the biggest planned infrastructure project in Busan is the Gadeokdo New Airport, which could lift property values in Gangseo-gu and along key access corridors by improving connectivity and signaling long-term regional growth.
The estimated timeline for Gadeokdo New Airport spans a construction window from 2023 to 2030 with a target opening within that period, though large infrastructure projects in Korea can experience delays, so buyers should factor in uncertainty.
For the latest updates on the local projects, you can read our property market analysis about Busan here.
Are zoning or building rules changing in Busan as of 2026?
The single most important building rule change being discussed nationally is the promotion of modular and faster construction methods, which Korea's Ministry of Land, Infrastructure and Transport is pushing to ease supply bottlenecks.
As of January 2026, the net effect on Busan prices from these rule changes is likely to be modest and delayed, because any new supply enabled by faster construction won't hit the market for several years, meaning near-term pricing is largely unaffected.
The areas in Busan most likely to benefit from streamlined building rules are districts with available land and redevelopment potential, such as parts of Gangseo-gu near the new airport site or regeneration zones in Dong-gu and Jung-gu.
Are foreign-buyer or mortgage rules changing in Busan as of 2026?
As of January 2026, the direction of mortgage rules in Busan (and all of Korea) is toward continued tightening through stressed DSR limits, which could dampen prices by capping how much buyers can borrow regardless of their desire to buy.
There is no major foreign-buyer rule change specifically targeting Busan, though Korea's MOLIT RTMS system continues to require transparent transaction reporting, which indirectly affects foreign purchases by increasing scrutiny.
The most impactful mortgage rule change already in effect is the stressed DSR framework from the Financial Services Commission, which applies a higher hypothetical interest rate when calculating how much debt a borrower can carry, effectively shrinking loan sizes for many buyers.
You can also read our latest update about mortgage and interest rates in South Korea.
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.
Will it be easy to find tenants in Busan as of 2026?
Is the renter pool growing faster than new supply in Busan as of 2026?
As of January 2026, renter demand in Busan appears roughly balanced with new rental supply citywide, but the balance tips in favor of landlords in high-demand pockets near universities and job centers.
The strongest signal for renter demand in Busan comes from the city's role as Korea's second-largest metro, with steady student populations around Busan National University in Geumjeong-gu and the Kyungsung-Pukyong University area in Nam-gu.
On the supply side, new apartment move-ins across Korea (including Busan) are expected to hit decade-low levels, which means fewer new rentals are entering the market to compete with existing stock.
Are days-on-market for rentals falling in Busan as of 2026?
As of January 2026, there is no single official days-on-market metric for Busan rentals, but rising rent indices and steady lease registrations suggest that well-located units are clearing faster than they did a year ago.
The difference in leasing speed between Busan's best areas (like Centum City, Seomyeon, and university districts) and weaker inland neighborhoods is significant, with prime locations often filling within weeks while secondary areas can sit for months.
One common reason days-on-market falls in Busan is constrained new supply meeting steady demand from students and young professionals who need to live near transit and jobs.
Are vacancies dropping in the best areas of Busan as of 2026?
As of January 2026, vacancy appears to be tightening in Busan's best-performing rental areas like Haeundae-gu (especially around Marine City and Centum City), Suyeong-gu near Gwangan, and the university corridors in Nam-gu and Geumjeong-gu.
While a precise vacancy rate is not published for these micro-markets, the combination of rising rents and steady lease activity suggests these prime areas are tighter than the Busan average.
A practical sign that the best areas are tightening first is when landlords stop offering jeonse deposit discounts or rent-free periods, something that has become less common in Haeundae and Centum City listings compared to a year ago.
By the way, we've written a blog article detailing what are the current rent levels in Busan.
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Am I buying into a tightening market in Busan as of 2026?
Is for-sale inventory shrinking in Busan as of 2026?
As of January 2026, for-sale inventory in Busan is not uniformly shrinking; reports of unsold new units and weak subscription rates suggest that supply is ample in many segments, though top-tier apartments in prime districts remain scarce.
Estimating months-of-supply for Busan is difficult because Korea does not publish a single standardized metric, but the presence of elevated unsold inventory in new projects suggests supply exceeds six months in weaker segments, which typically favors buyers.
In the segments where inventory is tight (mainly newer, well-managed apartments in Haeundae, Suyeong, and top school districts), the most likely reason is that existing owners are reluctant to sell into an uncertain market, preferring to hold rather than list at lower prices.
Are homes selling faster in Busan as of 2026?
As of January 2026, the median time-to-sell for homes in Busan is not speeding up across the board; tighter credit from DSR rules is keeping many buyers on the sidelines, which slows transaction velocity except in the most desirable listings.
Compared to a year ago, days-on-market in Busan appears roughly flat to slightly longer for average properties, though premium apartments in top neighborhoods are still transacting within reasonable timeframes when priced realistically.
Are new listings slowing down in Busan as of 2026?
As of January 2026, we are not confident in a precise year-over-year change for new listings in Busan because standardized public data is limited, but the overall sense is that listing flow is cautious rather than surging.
Busan typically sees more listing activity in spring and fall, so the current winter period is seasonally slow, and early 2026 levels do not appear unusually low relative to this pattern.
The most plausible reason new listings are not flooding the market is seller caution: with prices uncertain and credit tight, many Busan homeowners prefer to wait rather than list at a price they find disappointing.
Is new construction failing to keep up in Busan as of 2026?
As of January 2026, new housing completions in Busan are expected to fall short of underlying household demand, with national coverage pointing to decade-low apartment move-in volumes that will affect Busan alongside other cities.
The recent trend in permits and completions for Busan shows a pullback from the higher levels seen a few years ago, meaning the pipeline of new supply is thinner than what was delivered in 2022 or 2023.
The single biggest bottleneck limiting new construction in Busan is financing and project viability: higher interest rates and weaker pre-sale absorption have made developers cautious about launching new projects, especially outside the most proven locations.
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.
Will it be easy to sell later in Busan as of 2026?
Is resale liquidity strong enough in Busan as of 2026?
As of January 2026, resale liquidity in Busan is strongest for mainstream apartments in major districts like Haeundae, Suyeong, and Busanjin, where buyer pools are deep and price discovery is clearer.
For well-located apartments priced realistically, median days-on-market in Busan tends to fall within a few weeks to a couple of months, which is healthy by Korean standards where transactions often take longer than in Western markets.
The property characteristic that most improves resale liquidity in Busan is location near subway stations and good schools, because these factors draw the widest pool of family buyers who drive the mainstream apartment market.
Is selling time getting longer in Busan as of 2026?
As of January 2026, selling time in Busan appears to be flat to slightly longer compared to last year, mainly because tighter credit rules have reduced the pool of qualified buyers who can close quickly.
The current median days-on-market for resale homes in Busan ranges widely, from under 30 days for top-tier apartments in Haeundae to several months for older villas or less desirable locations.
One clear reason selling time can lengthen in Busan is affordability pressure: when DSR limits shrink loan sizes, fewer buyers qualify at asking prices, forcing sellers to either wait longer or cut prices to attract a deal.
Is it realistic to exit with profit in Busan as of 2026?
As of January 2026, the likelihood of selling with a profit in Busan is medium, and it depends heavily on buying in the right location, holding for at least five years, and ensuring rental income covers your carrying costs.
The minimum holding period that most often makes exiting with profit realistic in Busan is around five to seven years, which gives enough time to absorb transaction costs and ride out short-term price volatility.
Total round-trip costs in Busan (including acquisition tax, agent fees, and capital gains tax for non-exempt sellers) typically run around 8% to 12% of the property value, which translates to roughly 40 million to 70 million won on a 500 million won apartment (about 30,000 to 52,000 USD or 28,000 to 48,000 EUR).
The factor that most increases profit odds in Busan is buying into a neighborhood with credible long-term catalysts like the North Port redevelopment or Gadeokdo airport corridor, where prices have room to re-rate as projects progress.
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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 |
|---|---|---|
| Korea Real Estate Board (REB) | Korea's official real estate market monitoring body and the baseline reference for price indices. | We used it to anchor price and rent trend direction. We treated it as the official signal when private indexes disagreed. |
| MOLIT Real Estate Transaction Management System (RTMS) | The government's official system for reported real transaction and lease contract data. | We used it as ground truth for actual transaction prices. We checked whether index-based narratives matched real deal flow. |
| Bank of Korea | The central bank's official policy rate publication. | We used it to frame mortgage rate pressure and the macro environment. We treated rate direction as a key driver for demand. |
| Korea Housing Finance Corporation (HF) | Public institution publishing official policy mortgage product rates. | We used it to estimate realistic borrowing costs for Busan buyers. We stress-tested affordability under different scenarios. |
| Financial Services Commission (FSC) | The financial regulator that sets and explains household debt rules. | We used it to gauge whether credit conditions are loosening or tightening. We treated DSR tightening as a demand-cooler. |
| FRED/BIS Real Residential Property Series | Republishes BIS data in a transparent, downloadable format used by researchers globally. | We used it to judge whether prices are high because of inflation or true overheating. We used it as our long-cycle yardstick. |
| KOSIS (Korean Statistical Information Service) | The official national statistics portal used by government and academia. | We used it to ground income, inflation, and demographic trends. We kept the analysis tied to measurable household capacity. |
| Statistics Korea (KOSTAT) | The official source for household income trends and methodology. | We used it to triangulate affordability rather than relying on anecdotes. We justified whether demand can sustainably support prices. |
| Busan Metropolitan City (Gadeokdo Airport) | The city's official project description including scope and timeline. | We used it to identify location-specific demand catalysts. We treated it as what's planned, not guaranteed delivery. |
| Busan Metropolitan City (North Port) | The city's official description of the flagship regeneration project. | We used it to frame neighborhood-level upside potential. We separated speculative hype from funded planning. |
| Busan Port Authority | The operating authority for the port, directly involved in project delivery. | We used it to cross-check the North Port narrative. We avoided relying on promotional summaries alone. |
| Savills Korea Research | A respected international property consultancy with Korea-specific research. | We used it to understand structural rental market shifts. We referenced their analysis of jeonse-to-monthly-rent trends. |
| ChosunBiz | A major Korean outlet that attributes figures to REB and named data platforms. | We used it to understand supply stress signals like unsold inventory. We treated it as a secondary wrapper around official metrics. |
| Reuters | A top-tier wire service that reliably summarizes official policy moves with dates. | We used it to cross-check timing of tightened borrowing rules. We only referenced it where it clearly cited FSC actions. |
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of South Korea. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
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