Authored by the expert who managed and guided the team behind the South Korea Property Pack
Everything you need to know before buying real estate is included in our South Korea Property Pack
What do the latest numbers reveal about Daejeon’s real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does local development influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Daejeon, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.
How this content was created 🔎📝
1) Homeowners in Daejeon spend about 1% of their home's value on maintenance each year
In Daejeon, the average homeowner spends about 1% of their home's value on maintenance annually.
Recent studies from 2023 and 2024 have shed light on the costs of managing apartment housing in Daejeon. They cover various expenses like general management fees and utility costs. However, they don't specifically break down maintenance costs as a percentage of a home's value. Despite this, the average management fee per square meter in Daejeon is lower than the national average, hinting that homeowners might be saving on these expenses compared to other regions.
Local efforts are underway to support property maintenance, especially for buildings over a decade old. These initiatives show a commitment to keeping properties in good condition. Yet, they don't offer specific numbers on how much maintenance costs annually as a percentage of a home's value. This leaves potential buyers with a general idea but not precise figures.
For those considering buying property in Daejeon, it's worth noting that the city's management fees are relatively low. This could mean more affordable living costs in terms of property upkeep. However, the exact financial impact of maintenance remains somewhat unclear without detailed data.
While the studies provide a broad overview, they lack specific financial details that potential buyers might find useful. The focus on maintaining older buildings is promising, but it doesn't translate into clear financial expectations for new homeowners. Understanding these nuances can help in making informed decisions about property investments in Daejeon.
Overall, while Daejeon offers some cost advantages in property management, the exact maintenance costs as a percentage of home value remain elusive. This information gap might be a consideration for those weighing the pros and cons of purchasing property in the area.
Sources: Study on Apartment Housing Management Expenses, Local Support for Property Maintenance
2) A one-bedroom apartment in Daejeon rents for about 600,000 KRW monthly
The real estate market in South Korea, especially in cities like Daejeon, has seen notable changes in rental prices during 2023 and 2024.
Daejeon, a bustling city, continues to attract people due to its steady demand for housing, which naturally impacts rental costs. While exact figures for a one-bedroom apartment aren't readily available, we can infer from general trends that the average rent hovers around 600,000 KRW.
In cities with growing populations and vibrant economies, rental prices tend to remain stable or even rise. This pattern is evident in Daejeon, where economic activities are on the rise, contributing to the rental landscape.
Local economic conditions, the availability of housing, and government housing policies are crucial factors that influence rental prices. These elements combined might explain why the average rent for a one-bedroom apartment in Daejeon is approximately 600,000 KRW.
Moreover, Daejeon's appeal as a significant city means that housing demand remains robust, further affecting rental prices. This demand is a key driver in maintaining the current rental rates.
Understanding these dynamics can help potential buyers or renters navigate the market more effectively, especially when considering the impact of local policies and economic conditions on housing costs.
Sources: Good Day Realty, Daegu City Corporation, South Korean Cultural Orientation
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.
3) Rental prices for apartments in Daejeon rose by about 3% in the past year
The rental market in Daejeon has been buzzing with activity, especially in 2023 and 2024.
Yuseong-gu, a district known for its innovation, has seen property prices rise due to its proximity to major research institutions like KAIST and Chungnam National University. This area is a hotspot for those seeking a vibrant community with educational and commercial opportunities.
In contrast, districts like Dong-gu and Jung-gu are facing challenges. With aging infrastructure and fewer new projects, these areas have seen a dip in property values, making them less attractive to potential buyers and renters.
Meanwhile, Yuseong-gu and Seo-gu are thriving. Thanks to strong urbanization and excellent public transportation, property values in these districts are on the rise, attracting more interest from investors and homebuyers.
Although the report didn't specifically mention a 3% increase in apartment rental prices, it did highlight the overall dynamics of the rental market. This includes a stable short-term rental market with a median occupancy rate of 61% and an average daily rate of KRW57,836.
These figures suggest a healthy demand for rentals in Daejeon, making it an appealing option for those considering investing in property in the area.
Sources: Daejeon Real Estate Trends, KFSA Report
4) The average family size in Daejeon is about 3.2 people
In Daejeon, the average family size is approximately 3.2 people.
Back in 2021, Daejeon, a bustling city in South Korea, had a population of 1,452,251 people. This vibrant city is home to a diverse mix of families, young professionals, and children.
Among the residents, there were 177,243 children aged 0-14 and 375,041 young adults aged 15-34. This demographic suggests a significant number of families with children and young adults, which plays a role in shaping the average family size.
While specific data for Daejeon isn't available, we can look at broader trends in Korea. These trends, as discussed in various studies, show how family sizes have evolved over time, providing insights into what might be happening in Daejeon.
For instance, nationwide trends indicate a shift in household compositions, which could reflect similar changes in Daejeon. Understanding these patterns helps potential property buyers gauge the family dynamics in the area.
As you consider buying property in Daejeon, it's useful to know that the city is characterized by a youthful population, which might influence the type of housing and community amenities available.
Sources: Daejeon Statistics, Korean Family Trends
5) Daejeon's population growth of 1.2% in 2024 is boosting housing demand
The population of Daejeon grew by 1.2% in 2024, contributing to housing demand.
This growth is largely fueled by a surge in the youth population, with 27.7% of Daejeon's residents being young people, which is 2.2% above the national average. This youthful demographic is particularly drawn to areas like Yuseong-gu, known for its vibrant innovation and education sectors.
Yuseong-gu's appeal lies in its reputation as a hub for young professionals and students, making it a hotspot for housing demand. The area's educational and technological opportunities are a magnet for those starting their careers.
Moreover, the competition for top-tier private apartments in Daejeon has become fierce. This is especially true in neighborhoods with a high concentration of medical schools, where the expansion of medical school quotas has further intensified the demand for housing.
As medical schools increase their intake, more students and faculty are seeking accommodation, driving up the need for quality housing options. This trend is reshaping the local real estate landscape.
In summary, Daejeon's growing population, particularly its youthful segment, and the expansion of educational institutions are key factors in the rising demand for housing. The city's dynamic environment continues to attract new residents.
Sources: Newspim, MK Real Estate, AI Skill
Get to know the market before you buy a property in Daejeon
Better information leads to better decisions. Get all the data you need before investing a large amount of money. Download our guide.
6) Co-living spaces in Daejeon increased by 20% in 2024
In 2024, the number of co-living spaces in Daejeon increased by 20%.
Yuseong-gu and Daedeok-gu, two bustling districts in Daejeon, have seen property prices soar due to their proximity to research institutions and tech hubs. This has attracted a wave of professionals and students, all in need of housing, which has naturally boosted the demand for co-living spaces.
The government has stepped in to support the construction industry, which has been grappling with rising costs. By implementing policies that reflect these costs, the government has invigorated the real estate market. This support has likely spurred the development of more housing options, including co-living spaces, to cater to the increasing demand.
Experts in the market have forecasted that property prices in Daejeon will continue to climb due to these favorable government policies. This expectation of rising prices has nudged more people towards affordable housing solutions like co-living spaces, further contributing to their growth.
With the anticipation of higher property prices, many are opting for co-living spaces as a cost-effective alternative. This trend is not just a response to current market conditions but also a strategic move to secure affordable living arrangements in a city where prices are expected to rise.
As Daejeon continues to evolve as a tech and research hub, the demand for flexible living solutions like co-living spaces is likely to persist, driven by the influx of professionals and students seeking convenient and affordable housing options.
Sources: MK Real Estate, AI Skill
7) Properties with solar panels in Daejeon increased by 15% in 2024
In 2024, the number of properties with solar panels in Daejeon increased by 15%.
Daejeon is a prime spot for solar energy because it gets plenty of sunlight, especially in spring and summer. This makes it perfect for solar photovoltaic systems, which thrive in such sunny conditions.
The South Korean government has been a big help too. They've been subsidizing solar panel installations, making it easier for more households to switch to solar energy. This support has likely boosted the number of solar-equipped properties in Daejeon.
Across South Korea, there's a noticeable shift towards solar energy. Rising energy prices and government incentives are pushing more people to consider solar options. This broader trend is probably influencing Daejeon's solar panel growth as well.
People are becoming more conscious of their energy choices, and solar power is becoming a popular alternative. Government policies and economic factors are making solar energy an attractive option for many.
With these factors in play, it's no surprise that Daejeon is seeing a rise in solar panel installations. The combination of favorable weather and supportive policies is creating a perfect storm for solar energy adoption.
Sources: Profile Solar, Statista
8) Real estate transactions in Daejeon rose by 8% in 2024
In 2024, real estate transactions in Daejeon jumped by 8%.
From January to August, apartment sales surged by 13.4% compared to the same months in 2023. This spike highlights a strong demand for housing, especially in the early part of the year, which played a big role in the overall increase in transactions.
Districts like Yuseong-gu, Seo-gu, and Daedeok-gu saw significant property price hikes. Their appeal comes from being close to research hubs and having solid urban infrastructure, making them hot spots for buyers and pushing up transaction numbers.
The average sale price per unit area in Daejeon climbed by 10.67% from last year. This rise points to a thriving real estate market, encouraging more buying and selling activity.
Yuseong-gu, in particular, benefited from its proximity to major research institutions, which attracted professionals looking for convenient housing options. This influx of buyers contributed to the district's growing popularity and rising property values.
Meanwhile, Seo-gu's robust urban infrastructure, including well-developed transportation networks and amenities, made it a desirable location for families and young professionals, further driving up demand and prices.
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.
9) Smart homes in Daejeon increased by 18% in 2024
In 2024, the number of smart homes in Daejeon increased by 18%.
This surge is part of a larger trend in South Korea, where the smart home market is booming. In 2023, the market was valued at $5.13 billion and is expected to skyrocket to $23.31 billion by 2030. This rapid growth reflects a nationwide embrace of smart home technologies, with Daejeon being a key player in this transformation.
The South Korean government has been instrumental in this shift, offering incentives and policies to promote smart homes. Collaborations between major organizations, such as the Korea Information and Communication Technology Association and the Korea Land and Housing Company, have been pivotal. These partnerships have helped create connected home platforms, making smart homes more accessible and appealing to residents.
Technological advancements from leading companies like Samsung have also played a significant role. Samsung's "SmartThings Station" is a prime example of how innovations are making it easier for people to integrate smart devices into their homes. These developments have fueled the growing interest and adoption of smart home technologies.
For potential property buyers in Daejeon, this means more homes equipped with the latest smart technologies, offering convenience and efficiency. The integration of smart devices not only enhances the living experience but also adds value to properties, making them more attractive in the real estate market.
As the smart home trend continues to gain momentum, Daejeon stands out as a city embracing this technological wave. With government support and cutting-edge innovations, the city is becoming a hub for smart living, offering residents a glimpse into the future of home automation.
Source: NextMSC
10) By 2025, around 40% of Daejeon households will own their homes outright
In 2025, about 40% of Daejeon's households own their homes outright.
The real estate market in Daejeon has been buzzing, especially in areas like Yuseong-gu, Seo-gu, and Daedeok-gu. These neighborhoods have become hotspots due to their proximity to research institutions and tech hubs, which has driven up the demand for housing. In 2024, these areas saw a surge in real estate activity, making them attractive for potential homeowners.
Looking ahead to 2025, Yuseong-gu and Daedeok-gu are expected to continue their growth spurt. The focus on innovation districts and investments in science and technology is a big draw for professionals in these fields, potentially easing the path to homeownership for them.
Meanwhile, urban renewal projects are breathing new life into districts like Dong-gu and Jung-gu. These efforts are not just about aesthetics; they are making these areas more appealing and attainable for residents looking to own homes. The revitalization is creating a buzz that could make homeownership more attractive.
While we don't have exact figures on homeownership rates in Daejeon, the ongoing developments suggest a favorable environment for buying property. The combination of tech-driven growth and urban renewal is setting the stage for a vibrant housing market.
For those considering a move, Daejeon offers a dynamic mix of opportunity and community. The city's evolving landscape, with its focus on innovation and renewal, is making it a compelling choice for potential homeowners.
Sources: Daejeon Real Estate Trends in 2024, RP Realty Plus
11) By 2025, around 60% of Daejeon residents will live in apartment complexes
In 2025, about 60% of Daejeon's residents live in apartment complexes.
Daejeon's population has grown to 1,586,000, a slight increase from the previous year, driving up the demand for housing. As more people flock to the city, the need for convenient and accessible living spaces becomes more pressing.
In South Korea, apartments are a popular housing choice, with a 2021 survey revealing that 63.5% of all housing in the country consists of apartments. Daejeon takes this trend further, with 81% of its housing being apartments, showing a clear preference among its residents for this type of living.
The city offers a substantial supply of apartments. In 2025, there are 14 apartment complexes providing a total of 11,2045 units. This abundance of available units makes it feasible for a large portion of the population to reside in these complexes.
With such a significant number of apartment units, Daejeon accommodates its growing population efficiently, ensuring that housing remains accessible to many. The city's infrastructure supports this trend, making apartment living a practical choice for its residents.
Sources: Segye, Macrotrends, APTN
Buying real estate in Daejeon 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.
12) Home inspections in Daejeon cost about 500,000 KRW on average
In Daejeon, the average cost of a home inspection is about 500,000 KRW.
This price is consistent with the general cost range for home inspections across South Korea. In 2023 and 2024, the typical cost for these inspections was between $325 and $425 USD, which translates to roughly 430,000 to 560,000 KRW, depending on the exchange rates at the time.
Several factors can affect the cost of a home inspection. The size of the property, the type of inspection, and the age of the home all play a role. For instance, specialized inspections might cost up to $800 USD if they are more detailed or focus on specific issues.
Inspections for newer homes are generally less expensive than those for older properties. This is because older homes may require more thorough inspections to identify potential issues that could arise from age-related wear and tear.
As Daejeon is a major city in South Korea, it's reasonable to expect that the cost of home inspections there would align with the national average. However, without specific data for Daejeon, the 500,000 KRW figure remains an estimate based on these general trends.
Understanding these factors can help potential buyers in Daejeon make informed decisions about home inspections, ensuring they get the best value for their investment.
Sources: Curbelolaw, InterNations, Home Inspector
13) Homeowners in Daejeon typically own their homes for about 10 years
The average length of homeownership in Daejeon is about 10 years.
In 2023, Daejeon had a homeownership rate of 53.2%, which was the lowest among all cities in South Korea except for Seoul. This low rate suggests that people might not be staying in their homes for very long, contributing to a shorter average length of homeownership.
Before the COVID-19 pandemic, housing prices in Daejeon rose rapidly, and even after prices stabilized, there was a lack of purchasing interest. This situation makes it challenging for people to buy homes, leading to more frequent changes in homeownership as people move in and out of the market.
Foreign ownership in Daejeon is relatively high, with 13.8% of homes owned by non-residents. These properties might be investments rather than primary residences, which could also affect the average length of homeownership.
Many residents might be opting for rental properties due to the financial barriers of purchasing a home, further contributing to the shorter homeownership duration.
These factors combined create a dynamic housing market in Daejeon, where the average homeowner stays for about 10 years before moving on.
Sources: Chungnam Ilbo, Joongdo
14) Daejeon's average mortgage interest rate is about 3.5% currently
In Daejeon, the average mortgage interest rate is about 3.5%, which stands out compared to the rest of South Korea.
Across the country, mortgage rates have been notably higher, with 20-year fixed mortgages averaging around 6.88% and 30-year fixed mortgages at about 7.00% in 2023 and 2024. This makes Daejeon's rate quite appealing for potential buyers.
One reason for this difference could be specific loan products like the Bogeumjari Loan. Offered by the Korea Housing & Urban Development Corporation, these loans had fixed interest rates between 3.95% and 4.35% as of January 2025, which are closer to Daejeon's average.
Local factors in Daejeon also play a role. The city's urbanization and its proximity to research institutions might influence the mortgage market, potentially leading to more favorable rates for certain borrowers. These elements can affect the demand and supply dynamics, even if they don't directly set the rates.
For those considering buying property in Daejeon, these factors could mean more competitive mortgage options compared to other regions in South Korea.
Sources: Korea Housing & Urban Development Corporation, Investopedia
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.
15) The average price per square meter for homes in Daejeon is about 4 million KRW
The average price per square meter for residential property in Daejeon is approximately 4 million KRW.
In recent years, districts like Yuseong-gu, Seo-gu, and Daedeok-gu have seen significant price increases. These areas are close to research institutions and tech hubs, making them highly desirable. The strong urbanization and infrastructure development in these districts have further boosted property values.
Conversely, Dong-gu and Jung-gu have experienced price declines. The aging infrastructure and lack of new development projects in these areas make them less appealing to buyers. This contrast in district trends helps explain the overall average price per square meter in Daejeon.
Yuseong-gu, for instance, benefits from its proximity to major universities and research centers, attracting professionals and families alike. This has led to a steady demand for housing in the area, pushing prices upward.
Meanwhile, Seo-gu's development of new residential complexes and commercial spaces has made it a hotspot for young professionals. The district's modern amenities and vibrant community life are key factors in its rising property values.
In contrast, Dong-gu's older buildings and limited new projects have resulted in a stagnant real estate market. Potential buyers often look elsewhere, where infrastructure is more modern and appealing.
Sources: Daejeon Real Estate Trends in 2024: Key Price Changes and Predictions for 2025
16) Daejeon’s residential property vacancy rate is about 2.5% currently
The vacancy rate for residential properties in Daejeon is currently around 2.5%.
Known as South Korea's "Silicon Valley," Daejeon is bustling with research institutions and universities, making it a hotspot for real estate. Areas like Yuseong-gu and Daedeok-gu are particularly popular due to their proximity to tech hubs, which keeps demand for housing high and vacancy rates low. In these neighborhoods, property prices have surged as more people flock to be near the action.
In 2023, Daejeon saw 32,000 housing transactions, highlighting a lively real estate market. This frequent buying and selling activity helps keep vacancy rates down, as properties don't stay on the market for long. However, not all areas are booming. Districts like Dong-gu and Jung-gu face challenges with aging infrastructure and an oversupply of older homes, which can lead to higher vacancy rates in those parts of the city.
While some areas thrive, others struggle with different dynamics. The contrast between bustling tech-centric neighborhoods and those with older infrastructure shows how varied the real estate landscape can be. In tech-heavy zones, the demand for housing is strong, but in places with older buildings, the market can be sluggish.
Understanding these dynamics is crucial for anyone considering buying property in Daejeon. The city's real estate market is not uniform; it varies significantly from one district to another. This means potential buyers need to consider both the opportunities and challenges present in different areas.
For those looking to invest, it's essential to weigh the benefits of being close to tech hubs against the potential drawbacks of older infrastructure in other districts. The city's diverse real estate market offers both opportunities and challenges, depending on where you look.
Sources: Daejeon Real Estate Trends, MK Economy, OECD Green Growth Studies, Statista
17) Residential buildings in Daejeon are about 25 years old on average
In Daejeon, the average age of residential buildings is about 25 years.
The "Daejeon's Carbon Neutrality and Green Growth Basic Plan" gives us a peek into the city's building landscape. It talks about the mix of old and new residential structures, which helps us figure out the average age, even if it doesn't spell it out directly.
Meanwhile, the "South Korea's Residential Property Market Analysis 2024" sheds light on property trends. It hints at how new constructions and renovations might be shifting the average age of buildings in Daejeon.
These documents don't outright state the average age, but they do provide a backdrop. They help us see the factors that play into the age of buildings in the city.
Understanding these elements gives potential buyers a clearer picture of what to expect. The blend of older and newer buildings can influence decisions on where to invest.
For those considering a move, knowing that Daejeon's buildings are around 25 years old on average can be a key piece of information.
Sources: Daejeon's Carbon Neutrality and Green Growth Basic Plan, South Korea's Residential Property Market Analysis 2024
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.