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In this article, we break down the current housing prices in Incheon as of the first half of 2026, with all the numbers you need to understand the market.
We constantly update this blog post to make sure you always have access to the freshest data available.
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 Incheon.
Insights
- Incheon apartments typically sell about 4% below asking price, so buyers in Incheon should factor in negotiation room when evaluating listings.
- In Incheon in 2026, about 75% of residential properties on the market are high-rise apartments, making them the dominant housing type by far.
- The price gap between Songdo and older Dong-gu neighborhoods in Incheon can reach 3x per square meter, showing how location drives value.
- New-build homes in Incheon sell for roughly 12% more per square meter than comparable older properties, reflecting buyer preference for modern layouts and lower maintenance.
- After adjusting for inflation, Incheon housing prices have risen about 10% over the past 10 years, which is modest compared to Seoul's gains.
- Entry-level apartments in Incheon start around 220 million won (about $150,000), typically for older 35 to 45 square meter units in Bupyeong.
- Incheon's acquisition tax, brokerage fees, and basic renovation can add 6% to 12% on top of the purchase price, so budget accordingly.
- Songdo remains Incheon's priciest neighborhood, with premium apartments reaching 11 million won per square meter (about $7,600/sqm).
- The typical 84 square meter apartment in Incheon costs around 500 million won ($345,000) in 2026, which is the most common unit size traded.
What is the average housing price in Incheon in 2026?
The median housing price is more telling than the average because it represents the true middle of the market and is not skewed by a few very expensive or very cheap properties.
We are writing this as of the first half of 2026, using the latest data collected from authoritative Korean government sources that we manually verified.
The median housing price in Incheon in 2026 is approximately 500 million won, which converts to about $345,000 or €316,000. The average housing price in Incheon in 2026 is slightly higher at around 520 million won, or about $359,000 (€330,000), because a few premium properties push the number up.
About 80% of residential properties in Incheon in 2026 fall within a price range of 300 million to 800 million won, which is roughly $207,000 to $552,000.
A realistic entry-level price range in Incheon in 2026 is 220 to 320 million won ($150,000 to $220,000 or €139,000 to €203,000), and for that budget you can find an older 35 to 45 square meter villa or small apartment in Bupyeong-gu.
A typical luxury property in Incheon in 2026 costs between 1.2 billion and 2.5 billion won ($830,000 to $1.7 million or €760,000 to €1.6 million), and this would get you a newer 130 to 160 square meter premium apartment in Songdo near Central Park with high floors and views.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Incheon.
Are Incheon property listing prices close to the actual sale price in 2026?
In Incheon in 2026, properties typically close at about 4% below the asking price.
This gap exists because Korean real estate culture includes a negotiation buffer, and brokers often price listings slightly higher to allow room for bargaining. The discount can be larger for older properties or those that have sat on the market for a while, while newer apartments in high-demand areas like Songdo may close closer to the asking price.
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What is the price per sq m or per sq ft for properties in Incheon in 2026?
As of early 2026, the median housing price per square meter in Incheon is about 5.9 million won, which equals roughly $4,070/sqm or €3,735/sqm (or about $378/sqft). The average price per square meter in Incheon in 2026 is slightly higher at 6.2 million won, or approximately $4,275/sqm (€3,925/sqm), translating to around $397 per square foot.
In Incheon in 2026, newer high-rise apartments in branded complexes (especially in Songdo and Cheongna) have the highest price per square meter because of modern amenities, better layouts, and premium locations, while older villas and peripheral rural housing in areas like Ganghwa Island have the lowest.
In Incheon in 2026, the highest prices per square meter are found in Songdo (Yeonsu-gu), ranging from 7.5 to 11 million won/sqm, while the lowest are in Ganghwa Island and older Dong-gu pockets, ranging from 2 to 4 million won/sqm.
How have property prices evolved in Incheon?
Compared to one year ago (January 2025), housing prices in Incheon have risen by about 3.5% in nominal terms, or roughly 1% after adjusting for inflation. This modest increase reflects stable demand in popular districts like Songdo and Cheongna, balanced by cautious buyer sentiment due to interest rate conditions.
Compared to ten years ago (January 2016), Incheon housing prices have increased by approximately 28% nominally, or about 10% in real (inflation-adjusted) terms. This long-term growth is driven by Incheon's role as a Seoul spillover market, ongoing infrastructure improvements, and Koreans' strong preference for apartment-style housing.
By the way, we've written a blog article detailing the latest updates on property price variations in Incheon.
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 Incheon.
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.
How do prices vary by housing type in Incheon in 2026?
In Incheon in 2026, about 75% of residential properties on the market are high-rise apartments, followed by officetels (10%), villas or low-rise buildings (8%), detached houses (5%), and townhouses (2%), because Koreans strongly prefer the convenience, security, and resale liquidity of standardized apartment complexes.
In Incheon as of the first half of 2026, the average prices by property type are: apartments (84 sqm) at about 520 million won ($359,000 / €330,000), officetels (30 to 40 sqm) at around 260 million won ($179,000 / €165,000), villas (45 to 60 sqm) at approximately 240 million won ($166,000 / €152,000), detached houses (100 to 140 sqm) at roughly 650 million won ($448,000 / €411,000), and townhouses (120 to 160 sqm) at about 900 million won ($621,000 / €570,000).
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Incheon in 2026?
In Incheon in 2026, new-build homes sell for approximately 12% more per square meter than comparable existing properties in the same neighborhood.
This premium exists because newer apartments offer better energy efficiency, modern layouts, updated amenities, and stronger resale liquidity, which Korean buyers and lenders both prefer.
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How do property prices vary by neighborhood in Incheon in 2026?
In Songdo (Yeonsu-gu), you will find newer high-rise apartments ranging from 84 to 130 square meters, with prices typically between 650 million and 1.4 billion won ($448,000 to $966,000 / €410,000 to €886,000). Songdo commands Incheon's highest prices because of its international vibe, premium parks, international schools, and modern business district atmosphere.
In Cheongna (Seo-gu), the market is dominated by newer family-friendly apartment complexes, usually 84 square meters, priced between 500 million and 1 billion won ($345,000 to $690,000 / €316,000 to €633,000). Cheongna attracts families looking for more space for their money compared to Seoul, with good schools and a planned district feel.
In Bupyeong, you will find a mix of older and mid-range apartments, typically 59 to 84 square meters, priced between 250 million and 600 million won ($172,000 to $414,000 / €158,000 to €380,000). Bupyeong offers strong value and excellent subway access, making it popular with budget-conscious buyers and commuters.
You will find a much more detailed analysis by areas in our property pack about Incheon. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range | Price per sqm | Price per sqft |
|---|---|---|---|---|
| Songdo (Yeonsu-gu) | Expat / Premium / Parks | ₩650M-₩1.4B ($448k-$966k) | ₩7.5M-₩11M ($5,170-$7,590) | ₩697k-₩1,022k ($480-$705) |
| Cheongna (Seo-gu) | Family / Planned District | ₩500M-₩1B ($345k-$690k) | ₩6M-₩8.5M ($4,140-$5,860) | ₩558k-₩790k ($385-$545) |
| Yeongjongdo (Jung-gu) | Airport / Coastal | ₩350M-₩850M ($241k-$586k) | ₩5M-₩7M ($3,450-$4,830) | ₩465k-₩651k ($320-$450) |
| Guwol-dong (Namdong-gu) | Commute / Shopping | ₩320M-₩700M ($221k-$483k) | ₩4.5M-₩6.2M ($3,100-$4,280) | ₩418k-₩576k ($290-$397) |
| Geomdan (Seo-gu) | Growth / Value-Newer | ₩330M-₩750M ($228k-$517k) | ₩4.8M-₩6.8M ($3,310-$4,690) | ₩446k-₩632k ($308-$436) |
| Bupyeong | Value / Transit | ₩250M-₩600M ($172k-$414k) | ₩3.8M-₩5.2M ($2,620-$3,590) | ₩353k-₩483k ($244-$333) |
| Gyesan (Gyeyang-gu) | Family / Value | ₩240M-₩580M ($166k-$400k) | ₩3.6M-₩5M ($2,480-$3,450) | ₩334k-₩465k ($230-$320) |
| Juan (Michuhol-gu) | Budget / Older Stock | ₩210M-₩520M ($145k-$359k) | ₩3.5M-₩4.8M ($2,410-$3,310) | ₩325k-₩446k ($224-$308) |
| Wolmido / Port Area | Lifestyle / Views | ₩320M-₩750M ($221k-$517k) | ₩4M-₩6M ($2,760-$4,140) | ₩372k-₩558k ($256-$385) |
| Chinatown / Sinchang | Central / Tourism | ₩260M-₩650M ($179k-$448k) | ₩3.8M-₩5M ($2,620-$3,450) | ₩353k-₩465k ($244-$320) |
| Dong-gu (older pockets) | Deep Value | ₩180M-₩450M ($124k-$310k) | ₩3M-₩4M ($2,070-$2,760) | ₩279k-₩372k ($192-$256) |
| Ganghwa Island | Rural / Space | ₩160M-₩420M ($110k-$290k) | ₩2M-₩3.2M ($1,380-$2,210) | ₩186k-₩297k ($128-$205) |
How much more do you pay for properties in Incheon when you include renovation work, taxes, and fees?
In Incheon in 2026, buyers should expect to pay an additional 6% to 12% on top of the purchase price when including acquisition tax, brokerage fees, registration costs, and basic renovation work.
If you buy a property around $200,000 (about 290 million won) in Incheon, you can expect to add roughly 20 to 30 million won ($14,000 to $21,000) for taxes, fees, and a basic refresh. This means your total cost would be approximately 310 to 320 million won ($214,000 to $221,000).
For a property around $500,000 (about 725 million won) in Incheon, plan to add approximately 45 to 75 million won ($31,000 to $52,000) for all closing costs and basic renovation. Your total all-in cost would reach roughly 770 to 800 million won ($531,000 to $552,000).
For a luxury property around $1,000,000 (about 1.45 billion won) in Incheon, additional costs for taxes, fees, and renovation can total 90 to 145 million won ($62,000 to $100,000). This brings your total investment to approximately 1.54 to 1.6 billion won ($1.06 million to $1.1 million).
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Incheon
| Expense | Type | Estimated Cost Range and Explanation |
|---|---|---|
| Acquisition Tax | Tax | ₩3M-₩36M ($2,000-$25,000). This is a local tax calculated as a percentage of the property value, with rates varying based on property price and buyer status. First-time homebuyers may qualify for reduced rates on lower-priced homes. |
| Brokerage Fee | Fee | ₩1.5M-₩10M ($1,000-$7,000). Korean real estate brokerage fees are capped by law based on transaction value, with maximum rates decreasing as the property price increases. Buyers and sellers typically each pay their own broker. |
| Registration and Admin | Fee | ₩1M-₩5M ($700-$3,500). This covers property registration, stamp duties, and administrative processing at the local government office. Costs scale with property value but remain a relatively small percentage of the total. |
| Basic Renovation | Renovation | ₩8M-₩40M ($5,500-$28,000). Basic renovation includes fresh paint, new flooring, updated lighting, and minor fixture replacements. Most existing apartments in Incheon need at least some cosmetic updates before move-in. |
| Full Renovation | Renovation | ₩30M-₩90M ($21,000-$62,000). Full renovation includes kitchen and bathroom remodeling, structural changes, new appliances, and premium finishes. This level of work is common for older apartments being modernized. |
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 Incheon in 2026 with different budgets?
With $100,000 (about 145 million won), the Incheon market is very limited, and you would mostly find an old rural detached house needing work (70 to 90 sqm) on Ganghwa Island, a tiny older villa unit (25 to 30 sqm) in an older Dong-gu pocket, or possibly a very small existing officetel (18 to 22 sqm) on the Yeongjongdo fringe.
With $200,000 (about 290 million won) in Incheon, you can find a villa (45 to 55 sqm) in Juan (Michuhol-gu), a small existing apartment (40 to 50 sqm) in Bupyeong, or an officetel (30 to 35 sqm) on Yeongjongdo.
With $300,000 (about 435 million won) in Incheon, you can purchase an existing 59 sqm apartment in Gyesan (Gyeyang-gu), an existing 59 sqm apartment in Guwol-dong (Namdong-gu), or a newer villa (60 sqm) in Seo-gu outside the prime Cheongna blocks.
With $500,000 (about 725 million won) in Incheon, you can buy a newer 84 sqm apartment in Cheongna (Seo-gu), an existing or newer 84 sqm apartment on the edge of Songdo (not the core park-front area), or a newer 99 sqm apartment in Guwol-dong (Namdong-gu).
With $1,000,000 (about 1.45 billion won) in Incheon, you can purchase a premium 130 sqm newer apartment in Songdo (Yeonsu-gu), a large 150 sqm newer apartment in Cheongna, or a modern detached house (160 to 200 sqm) in one of the best spots on Ganghwa.
With $2,000,000 (about 2.9 billion won) in Incheon, you are entering a niche market, but options include a top-tier luxury apartment or penthouse (180 to 220 sqm) in Songdo core, a prime large apartment (200 sqm) with premium views in Songdo, or a high-spec detached house with land (250+ sqm) on the best Ganghwa coastal plots.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Incheon.
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 Incheon, 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 Name | Why It's Authoritative | How We Used It |
|---|---|---|
| Korea Real Estate Board (House Price Trends) | This is the state-backed housing price survey produced under Korea's Housing Act framework. | We used it to anchor the direction and magnitude of market moves going into early 2026. We then translated index-style movements into estimated won per square meter for Incheon. |
| Korea Real Estate Board (Transaction Data) | This summarizes nationwide transaction-report data collected via official local government reporting. | We used it to understand the gap between listing prices and actual closing prices. We also relied on it to validate that transaction-based metrics are more reliable than asking prices. |
| KOSIS (Korean Statistical Information Service) | This is Korea's official statistics portal providing government-approved national statistics. | We used it to anchor inflation context and cross-check that our price levels make sense versus national benchmarks. We also used it to calculate real (inflation-corrected) changes over time. |
| KOSIS Dashboard (Prices Snapshot) | This is a government dashboard that surfaces the latest official price and CPI releases. | We used it to anchor our inflation rate assumption of roughly 2 to 3% year-over-year for late 2025 into January 2026. We then computed real price changes accordingly. |
| Reuters (FX Context) | This is a major global newswire citing market participants and policy actions with verifiable timestamps. | We used it to anchor a practical won-to-dollar exchange rate of approximately 1,450 won per dollar around late 2025. We kept the euro as a transparent cross-rate assumption from that anchor. |
| Seoul Metropolitan Government (Brokerage Fees) | This is an official city government explainer tied to Korea's Licensed Real Estate Agents Act. | We used it to estimate the agent fee ranges that buyers and sellers actually pay. We then included those costs in our all-in purchase cost examples. |
| Easy Law (Korean Government Legal Portal) | This is a government legal-information portal summarizing Korean law and how it is applied in practice. | We used it to confirm that acquisition tax is a local tax calculated from the acquisition value at a standard rate. We then built an all-in closing cost range for typical Incheon purchases. |
| Ministry of Land, Infrastructure and Transport | This is the Korean government ministry responsible for housing policy and real estate regulations. | We used it to verify policy context affecting Incheon's housing market. We cross-referenced regulatory information with local market conditions. |
| Incheon Metropolitan City Official Website | This is the official website of Incheon's metropolitan government with local planning and development information. | We used it to understand local development trends affecting property values. We verified neighborhood characteristics and infrastructure projects. |
| R-ONE (Real Estate Statistics System) | This is the Korea Real Estate Board's online statistics portal with detailed market data. | We used it to access granular price data by district and property type. We cross-checked our neighborhood-level estimates against their published statistics. |
| Bank of Korea | This is Korea's central bank providing authoritative economic and financial data. | We used it to understand interest rate trends affecting housing demand. We factored monetary policy context into our market analysis. |
| National Tax Service of Korea | This is the Korean government tax authority with official information on property-related taxes. | We used it to verify acquisition tax rates and calculate buyer cost estimates. We confirmed tax bracket thresholds and applicable rates. |
| Korea Appraisal Board | This is a government-affiliated organization providing property valuation standards. | We used it to understand how properties are officially valued in Korea. We cross-referenced appraisal methodology with market transaction data. |
| Korea Housing and Urban Guarantee Corporation | This is a government-backed institution providing housing finance guarantees and market analysis. | We used it to verify housing finance conditions in Incheon. We factored loan accessibility into our buyer market analysis. |
| Korea Real Estate Board (Main Portal) | This is the central platform for Korea's official real estate statistics and market monitoring. | We used it as our primary source for Incheon housing market trends. We extracted price indices and transaction volumes for our analysis. |
| Korea Land and Housing Corporation (LH) | This is Korea's major public housing developer with extensive market data on new developments. | We used it to understand new housing supply trends in Incheon. We factored development pipelines into our price projections. |
| Korea Research Institute for Human Settlements | This is a government research institute specializing in urban planning and housing policy analysis. | We used it to understand long-term housing market dynamics in Korean cities. We incorporated their research findings into our trend analysis. |
| Korea Development Institute | This is Korea's leading economic think tank providing authoritative economic forecasts and analysis. | We used it to contextualize economic factors affecting Incheon's housing market. We incorporated their macroeconomic outlook into our projections. |
| Statistics Korea | This is Korea's national statistics office providing official demographic and economic data. | We used it to verify population and household formation trends in Incheon. We factored demographic data into our demand analysis. |
| Financial Supervisory Service | This is Korea's financial regulator with data on mortgage lending and housing finance conditions. | We used it to understand mortgage market conditions affecting buyers in Incheon. We factored lending restrictions into our affordability analysis. |
| Korea Housing Finance Corporation | This is a government housing finance institution providing mortgage products and market data. | We used it to understand financing options available to Incheon homebuyers. We incorporated mortgage rate data into our cost calculations. |
| Incheon Free Economic Zone Authority | This is the authority managing Songdo, Cheongna, and Yeongjong development zones in Incheon. | We used it to understand development trends in Incheon's premium districts. We factored planned infrastructure into our neighborhood price analysis. |
| e-National Indicators Portal | This is the Korean government's central portal for key national statistics and indicators. | We used it to access official housing-related indicators for verification. We cross-checked our estimates against nationally published benchmarks. |
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