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In this article, we look at the current housing prices in Jeju Island in 2026, using the latest figures we have collected and checked.
We constantly update this blog post so that readers can follow the Jeju Island residential property market with fresh data.
You will see average prices, price per square meter, neighborhood differences, extra buying costs, and what different budgets can buy in Jeju Island.
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 Jeju Island.
Insights
- The median housing price in Jeju Island in 2026 is around ₩420 million, which is lower than the average because a small number of premium sea-view homes lift the average.
- A normal home buyer in Jeju Island in 2026 should think in terms of ₩5.0 million to ₩5.5 million per square meter for broad island-wide pricing.
- Jeju Island property prices in 2026 are slightly softer than in 2025, but the best apartments in Jeju City remain more liquid than rural lifestyle homes.
- In Jeju Island, the gap between asking prices and final sale prices is usually around 4% to 8%, with larger discounts on older rural villas and detached houses.
- New or recently built homes in Jeju Island usually cost 15% to 25% more than older comparable homes, mostly because buyers value parking, elevators, insulation, and easier financing.
- Aewol, Jungmun, Andeok, and the Global Education City area are the most lifestyle-driven parts of the Jeju Island housing market, so prices depend heavily on view and land.
- For a buyer in Jeju Island in 2026, the total all-in budget is often 5% to 12% above the purchase price before major renovation work.
- A $300,000 budget in Jeju Island is enough for a normal existing apartment or villa, but it is usually not enough for a prime sea-view home.
- A $1 million budget in Jeju Island can buy strong lifestyle property, but the market becomes thinner and due diligence becomes more important.
What is the average housing price in Jeju Island in 2026?
The median housing price in Jeju Island is more useful than the average housing price because it shows what a normal buyer is more likely to pay, without being pushed up too much by rare luxury homes.
We are writing this as of 2026, using the latest data collected from authoritative sources that we manually double checked.
In 2026, the median housing price in Jeju Island is about ₩420 million, which is around $284,000 or €238,000. The average housing price in the Jeju Island market in 2026 is about ₩500 million, which is around $339,000 or €283,000.
A realistic range covering about 80% of normal residential properties in Jeju Island in 2026 is around ₩180 million to ₩950 million, or about $122,000 to $643,000, or €102,000 to €538,000.
A realistic entry range in Jeju Island in 2026 is around ₩180 million to ₩260 million, or about $122,000 to $176,000, or €102,000 to €147,000, which usually buys an older 45 to 60 square meter villa or low-rise unit in old Seogwipo, Pyoseon-myeon, or Gujwa-eup.
A typical luxury property range in Jeju Island in 2026 is around ₩1.3 billion to ₩2.8 billion, or about $880,000 to $1.9 million, or €736,000 to €1.6 million, which can buy a 160 to 250 square meter sea-view detached house, townhouse, or premium villa in Aewol, Jungmun, Andeok, or near the Global Education City.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Jeju Island.
Are Jeju Island property listing prices close to the actual sale price in 2026?
In Jeju Island in 2026, actual sale prices are usually about 4% to 8% lower than listing prices, with 6% below asking price as a useful central estimate.
The gap is smaller for liquid apartments in Jeju City because buyers and sellers can compare many similar sales. The gap is larger for rural villas, detached houses, and older coastal homes because these properties are harder to compare and often stay on the market for longer.
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What is the price per sq m or per sq ft for properties in Jeju Island in 2026?
As of 2026, the median housing price in Jeju Island is about ₩5.0 million per square meter, or about $3,386 and €2,832, which is about ₩465,000 per square foot, or about $315 and €263. The average housing price in Jeju Island is about ₩5.5 million per square meter, or about $3,724 and €3,115, which is about ₩511,000 per square foot, or about $346 and €289.
The highest price per square meter in Jeju Island in 2026 is usually found in newer apartments, compact premium homes, and sea-view properties, while the lowest price per square meter is usually found in older villas, rural detached houses, and homes needing renovation.
The highest price per square meter in Jeju Island is usually in Nohyeong-dong, Yeon-dong, Aewol, Jungmun, and parts of Andeok, where prices often range from ₩6.5 million to more than ₩9.5 million per square meter. The lowest price per square meter is usually in Pyoseon, Gujwa, parts of Hallim, and old Seogwipo, where prices often range from ₩3.0 million to ₩4.5 million per square meter.
How have property prices evolved in Jeju Island?
Compared with 2025, Jeju Island residential property prices in 2026 are estimated to be down by about 1.5% in nominal Korean won terms. The market softened because financing stayed expensive for many buyers and demand outside Seoul remained more cautious.
Compared with 2024, Jeju Island residential property prices in 2026 are broadly flat to slightly down in nominal terms. In real terms, prices look weaker because inflation continued while Jeju Island housing prices did not rise much.
By the way, we’ve written a blog article detailing the latest updates on property price variations in South Korea.
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 Jeju Island.
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How do prices vary by housing type in Jeju Island in 2026?
In Jeju Island in 2026, apartments make up about 50% to 55% of the residential market, low-rise villas and multi-family units about 18% to 22%, detached houses about 12% to 16%, townhouses about 4% to 6%, officetel-style units about 3% to 5%, and luxury villas or premium detached homes about 2% to 3%, because apartments are easier to compare, finance, resell, and manage.
In Jeju Island as of 2026, apartments average around ₩470 million, or $318,000 and €266,000, while low-rise villas are closer to ₩300 million, or $203,000 and €170,000. Detached houses average around ₩650 million, or $440,000 and €368,000, townhouses around ₩750 million, or $508,000 and €425,000, officetel-style homes around ₩230 million, or $156,000 and €130,000, and premium villas or luxury detached homes around ₩1.8 billion, or $1.22 million and €1.02 million.
If you want to know more, you should read our dedicated analyses:
- How much should you pay for a house in Jeju Island?
- How much should you pay for lands in Jeju Island?
How do property prices compare between existing and new homes in Jeju Island in 2026?
In Jeju Island in 2026, new or recently built residential properties usually sell for about 15% to 25% more than comparable older homes.
This premium exists because buyers in Jeju Island pay more for better parking, elevators, newer interiors, energy efficiency, less repair risk, and easier resale, especially in Jeju City apartment areas.
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How do property prices vary by neighborhood in Jeju Island in 2026?
In Aewol, Jeju Island buyers usually find detached houses, villas, sea-view homes, and lifestyle properties, with typical prices around ₩500 million to ₩1.4 billion, or about $339,000 to $948,000 and €283,000 to €793,000. Aewol is expensive because it has sea views, cafés, strong lifestyle appeal, and easy access to Jeju City.
In Daejeong and the Global Education City area, Jeju Island buyers usually find townhouses, apartments, and family homes, with typical prices around ₩500 million to ₩1.1 billion, or about $339,000 to $745,000 and €283,000 to €623,000. This area is popular with international-school families and long-stay foreign residents, so family-sized homes can command a premium.
In Nohyeong and Yeon-dong, Jeju Island buyers usually find apartments, officetel-style units, and practical urban homes, with typical prices around ₩520 million to ₩900 million, or about $352,000 to $609,000 and €295,000 to €510,000. These neighborhoods are valuable because they offer airport access, shopping, hospitals, schools, and stronger resale liquidity.
You will find a much more detailed analysis by areas in our property pack about Jeju Island. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Jeju Island area | Market label | Average price range | Average range per sq m | Average range per sq ft |
|---|---|---|---|---|
| Nohyeong-dong | Urban and popular | ₩550M to ₩900M $372K to $609K |
₩6.8M to ₩9.5M $4,600 to $6,430 |
₩632K to ₩883K $428 to $598 |
| Yeon-dong | Central and practical | ₩520M to ₩850M $352K to $575K |
₩6.5M to ₩9.0M $4,400 to $6,095 |
₩604K to ₩836K $409 to $566 |
| Ara-dong | Family and schools | ₩400M to ₩700M $271K to $474K |
₩5.2M to ₩7.2M $3,520 to $4,875 |
₩483K to ₩669K $327 to $453 |
| Ido-dong | Central local market | ₩350M to ₩650M $237K to $440K |
₩4.8M to ₩6.8M $3,250 to $4,600 |
₩446K to ₩632K $302 to $428 |
| Aewol-eup | Lifestyle and sea view | ₩500M to ₩1.4B $339K to $948K |
₩5.5M to ₩9.0M $3,724 to $6,095 |
₩511K to ₩836K $346 to $566 |
| Jocheon-eup | Suburban and family | ₩350M to ₩700M $237K to $474K |
₩4.5M to ₩6.8M $3,047 to $4,600 |
₩418K to ₩632K $283 to $428 |
| Gujwa-eup | Value and rural coast | ₩230M to ₩550M $156K to $372K |
₩3.2M to ₩5.0M $2,167 to $3,386 |
₩297K to ₩465K $201 to $315 |
| Hallim-eup | West coast value | ₩250M to ₩600M $169K to $406K |
₩3.5M to ₩5.5M $2,370 to $3,724 |
₩325K to ₩511K $220 to $346 |
| Seogwipo center | Local and value | ₩250M to ₩550M $169K to $372K |
₩3.8M to ₩5.8M $2,573 to $3,927 |
₩353K to ₩539K $239 to $365 |
| Jungmun-dong | Resort and luxury | ₩550M to ₩1.5B $372K to $1.02M |
₩6.0M to ₩9.5M $4,063 to $6,430 |
₩558K to ₩883K $378 to $598 |
| Andeok-myeon | Premium rural | ₩450M to ₩1.3B $305K to $880K |
₩5.0M to ₩8.0M $3,386 to $5,417 |
₩465K to ₩743K $315 to $503 |
| Pyoseon-myeon | Entry and rural | ₩180M to ₩450M $122K to $305K |
₩3.0M to ₩4.8M $2,031 to $3,250 |
₩279K to ₩446K $189 to $302 |
How much more do you pay for properties in Jeju Island when you include renovation work, taxes, and fees?
In Jeju Island in 2026, a normal buyer should expect the all-in cost to be about 5% to 12% above the purchase price if the home does not need major renovation.
For a property bought around $200,000, or about ₩295 million, extra costs in Jeju Island often add around ₩20 million to ₩40 million. This means the final budget may land around ₩315 million to ₩335 million before any major renovation.
For a property bought around $500,000, or about ₩738 million, extra costs in Jeju Island often add around ₩50 million to ₩90 million. This means the final budget may land around ₩788 million to ₩828 million, especially if brokerage, registration, furnishing, and light repairs are included.
For a property bought around $1,000,000, or about ₩1.48 billion, extra costs in Jeju Island often add around ₩120 million to ₩300 million. This means the final budget may land around ₩1.60 billion to ₩1.78 billion if the property is a detached or premium lifestyle home with meaningful fit-out work.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in South Korea.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Jeju Island
| Additional expense | Type | Estimated cost range |
|---|---|---|
| Acquisition tax and surtaxes | Taxes | Usually around 1.1% to 3.5% of the purchase price, depending on the home and buyer profile. For many Jeju Island buyers, this can mean roughly ₩3 million to ₩42 million, or about $2,000 to $28,000. |
| Brokerage fee | Fees | Often around 0.3% to 0.6% of the purchase price, with legal caps and room for negotiation. On a normal Jeju Island home, this can be a meaningful but manageable cost. |
| Legal, registration, and certificates | Fees | A practical estimate is around ₩1 million to ₩4 million, or about $700 to $2,700. This covers the paperwork side of the purchase rather than the property itself. |
| Basic move-in repairs | Renovation | A light repair budget is often around ₩5 million to ₩20 million, or about $3,000 to $14,000. This is common for older villas and apartments that are livable but not fully updated. |
| Full interior renovation | Renovation | A full apartment or villa renovation can cost around ₩25 million to ₩80 million, or about $17,000 to $54,000. The final amount depends on bathrooms, kitchen, flooring, windows, and built-in storage. |
| Detached house renovation | Renovation | For detached houses, renovation can reach around ₩50 million to more than ₩200 million, or about $34,000 to $135,000+. Waterproofing, roof work, exterior repairs, and land work can increase the budget quickly. |
| Furnishing and appliances | Fit-out | A realistic furnishing and appliance budget is around ₩8 million to ₩35 million, or about $5,000 to $24,000. This is especially relevant for second-home buyers and foreign buyers moving into Jeju Island. |
| Survey or technical inspection | Due diligence | A technical check can cost around ₩1 million to ₩5 million, or about $700 to $3,400. It is especially useful for older detached homes, rural homes, and coastal properties exposed to humidity and wind. |
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 Jeju Island in 2026 with different budgets?
With $100,000, or about ₩148 million, there is not much normal market depth in Jeju Island in 2026, but you may find a 35 to 45 square meter older villa in Pyoseon-myeon, a very small older unit in old Seogwipo, or a rural low-rise unit needing renovation in Gujwa-eup.
With $200,000, or about ₩295 million, you can realistically target a 50 to 65 square meter existing villa in Seogwipo center, a 45 to 60 square meter older home in Hallim or Gujwa, or a small 1 to 2 bedroom older unit in outer Jeju City.
With $300,000, or about ₩443 million, you can look at a 75 to 85 square meter existing apartment in Ara-dong or outer Jeju City, an 80 to 100 square meter low-rise villa in Jocheon or Hallim, or a small inland detached house in Gujwa or Pyoseon.
With $500,000, or about ₩738 million, you can target an 84 square meter newer apartment in Nohyeong or Yeon-dong, a 120 to 140 square meter townhouse near Daejeong or the Global Education City, or a good detached house in Jocheon or Aewol that is not prime oceanfront.
With $1,000,000, or about ₩1.48 billion, you can buy a premium apartment or penthouse-style unit in Nohyeong or Yeon-dong, a 150 to 220 square meter sea-view detached house in Aewol, or a high-quality townhouse or villa near Jungmun or Andeok.
With $2,000,000, or about ₩2.95 billion, there is a real Jeju Island market but it is thin, and you may find a 200 to 300 square meter luxury ocean-view villa in Aewol, a high-end detached estate in Andeok or Jungmun, or a large premium home near the Global Education City with land and privacy.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in South Korea.
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 Jeju Island, 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 used | Why this source is reliable | How we used this source |
|---|---|---|
| MOLIT Actual Transaction Price Disclosure System | It is South Korea’s official platform for reported real estate transaction prices. | We used it as the main anchor for closed-sale reality in Jeju Island. We treated actual transactions as stronger than asking prices. |
| Korea Real Estate Board R-ONE | It is Korea’s official real estate statistics body and publishes monthly housing price reports. | We used it to check the trend direction in Jeju Island. We also used it to avoid relying only on listing behavior. |
| Korea Real Estate Board methodology page | It explains the official survey scope and method for Korean housing price trends. | We used it to understand what is included in official housing price data. We kept the article focused on residential property only. |
| KB Kookmin Bank Jeju housing price index via CEIC | KB is one of Korea’s main private housing price index providers, and CEIC republishes its time series. | We used it to cross-check the 2026 price direction for Jeju Island. We treated it as a useful second view next to official data. |
| Global Property Guide using KOSIS and HUG data | KOSIS is Korea’s official statistics portal, and HUG data is commonly used for new private apartment sale prices. | We used it to benchmark new-build apartment prices in South Korea. We then adjusted the benchmarks downward for Jeju versus Seoul-heavy national averages. |
| Statistics Korea consumer price data | It is Korea’s official consumer price statistics publisher. | We used it to understand inflation. We used inflation to explain why real housing prices can fall even when nominal prices move only slightly. |
| Bank of Korea Economic Outlook, May 2026 | The Bank of Korea is the country’s central bank and publishes official macroeconomic forecasts. | We used it to understand the interest-rate and inflation backdrop. We used this context to explain cautious buyer demand in Jeju Island. |
| European Central Bank KRW/EUR reference rate | The European Central Bank is an official central bank source for euro reference exchange rates. | We used it for euro conversions. We rounded the final euro amounts to make the article easier to read. |
| USD/KRW 2026 exchange-rate history | It provides a clear daily exchange-rate history and a 2026 average USD/KRW rate. | We used the 2026 average exchange rate for dollar conversions. We used an average rate instead of a single-day rate to avoid overreacting to daily currency moves. |
| InvestKOREA brokerage commission guide | InvestKOREA is a government-backed investment information platform. | We used it to estimate buyer-side brokerage fees. We treated the rates as legal maximums or guides, not as fixed fees in every transaction. |
| Seoul official brokerage fee guide | It is an official municipal explanation of Korea’s residential brokerage fee caps. | We used it as a clear English-language reference for the national-style brokerage framework. We applied it carefully because local details should still be checked before signing. |
| RealtyPrice official assessed-price portal | It is Korea’s official portal for publicly notified housing and land values. | We used it to understand assessed-value and tax-base logic. We did not use assessed values as market prices because assessed values can differ from actual sale prices. |
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