As of June 2026, a realistic median house price in Jeju Island is about KRW 480 million, or about USD 325,000 and EUR 273,000, while the average house price in Jeju Island is closer to KRW 650 million, or about USD 440,000 and EUR 370,000.
[VARIABLE INTRO GREEN HTML] [VARIABLE COVER HTML]We constantly update this blog post so the house prices in Jeju Island stay aligned with fresh official data, live listings and our own market checks.
Jeju Island is not one simple housing market, because a small inland village house, a coastal Aewol home and a Global Education City family house can have very different prices.
This guide focuses only on houses in Jeju Island, not apartments, officetels, commercial buildings or land-only plots.
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.
How much do houses cost in Jeju Island as of 2026?
What's the median and average house price in Jeju Island as of 2026?
As of 2026, the estimated median house price in Jeju Island is about KRW 480 million, or about USD 325,000 and EUR 273,000, while the estimated average house price in Jeju Island is about KRW 650 million, or about USD 440,000 and EUR 370,000.
For most buyers, the normal house price range in Jeju Island in 2026 is roughly KRW 300 million to KRW 900 million, or about USD 203,000 to USD 609,000 and EUR 171,000 to EUR 512,000.
The average house price in Jeju Island is higher than the median because sea-view houses in Aewol, Hamdeok, Jungmun and Seogwipo, plus family houses near Jeju Global Education City, pull the top of the market upward.
At the median house price in Jeju Island in 2026, a buyer can usually expect an older but usable 2 or compact 3-bedroom detached house, often with parking, a small yard and a location outside the highest-demand coastal pockets.
What's the cheapest livable house budget in Jeju Island as of 2026?
As of 2026, the cheapest realistic budget for a livable house in Jeju Island is about KRW 180 million to KRW 250 million, or about USD 122,000 to USD 169,000 and EUR 102,000 to EUR 142,000.
At this entry-level house budget in Jeju Island, livable usually means the roof, electricity, water and bathroom work, but the house may still need insulation upgrades, old-pipe checks, damp treatment and cosmetic renovation.
These cheaper livable houses in Jeju Island are usually found in inland Gujwa-eup, Pyoseon-myeon, Namwon-eup, Hangyeong-myeon, rural Daejeong-eup and inland Hallim-eup rather than in the most famous beach areas.
[VARIABLE WHAT YOU CAN GET BUDGET]How much do 2 and 3-bedroom houses cost in Jeju Island as of 2026?
As of 2026, a typical 2-bedroom house in Jeju Island costs about KRW 250 million to KRW 450 million, or about USD 169,000 to USD 304,000 and EUR 142,000 to EUR 256,000, while a typical 3-bedroom house costs about KRW 400 million to KRW 700 million, or about USD 271,000 to USD 474,000 and EUR 228,000 to EUR 398,000.
A realistic 2-bedroom house price range in Jeju Island in 2026 is KRW 250 million to KRW 450 million, with lower prices usually linked to older interiors, inland villages or weaker road access.
A realistic 3-bedroom house price range in Jeju Island in 2026 is KRW 400 million to KRW 700 million, but the same 3-bedroom house can reach KRW 650 million to KRW 1 billion near Aewol, Hamdeok, Ara-dong, Nohyeong-dong, Jungmun or Jeju Global Education City.
The usual premium for moving from a 2-bedroom to a 3-bedroom house in Jeju Island is about KRW 120 million to KRW 250 million, or about USD 81,000 to USD 169,000 and EUR 68,000 to EUR 142,000, because the buyer often gets more land, better parking and a more family-friendly layout.
How much do 4-bedroom houses cost in Jeju Island as of 2026?
As of 2026, a typical 4-bedroom house in Jeju Island costs about KRW 650 million to KRW 1.1 billion, or about USD 440,000 to USD 744,000 and EUR 370,000 to EUR 626,000.
A realistic 5-bedroom house price range in Jeju Island in 2026 is about KRW 900 million to KRW 1.6 billion, or about USD 609,000 to USD 1.08 million and EUR 512,000 to EUR 910,000.
A realistic 6-bedroom house price range in Jeju Island in 2026 is about KRW 1.2 billion to KRW 2.5 billion, or about USD 812,000 to USD 1.69 million and EUR 683,000 to EUR 1.42 million, especially when the house has guesthouse potential, sea views or a large land parcel.
Please note that we give much more detailed data in our pack about the property market in Jeju Island.
How much do new-build houses cost in Jeju Island as of 2026?
As of 2026, a typical new-build house in Jeju Island costs about KRW 600 million to KRW 1.2 billion, or about USD 406,000 to USD 812,000 and EUR 341,000 to EUR 683,000.
New-build houses in Jeju Island usually carry a 15% to 30% premium over similar older resale houses, mainly because buyers pay for better insulation, easier parking, wider roads, modern heating and fewer moisture problems.
How much do houses with land cost in Jeju Island as of 2026?
As of 2026, a house with meaningful land in Jeju Island usually costs about KRW 450 million to KRW 1.5 billion, or about USD 304,000 to USD 1.01 million and EUR 256,000 to EUR 853,000.
In Jeju Island, a house with land usually means a detached house with at least 300 m² to 600 m² of plot, which is enough for parking, a garden or a small orchard-style yard.
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Where are houses cheapest and most expensive in Jeju Island as of 2026?
Which neighborhoods have the lowest house prices in Jeju Island as of 2026?
As of 2026, the lowest house prices in Jeju Island are generally found in inland Gujwa-eup, Pyoseon-myeon, Namwon-eup, Hangyeong-myeon, inland Hallim-eup and some rural parts of Daejeong-eup.
In these cheaper house areas of Jeju Island, a basic livable house usually costs about KRW 200 million to KRW 400 million, or about USD 135,000 to USD 271,000 and EUR 114,000 to EUR 228,000.
These areas are cheaper because many houses are farther from Jeju City jobs, the airport, international schools and the coastal café-and-beach pockets that attract second-home buyers.
Which neighborhoods have the highest house prices in Jeju Island as of 2026?
As of 2026, the highest house prices in Jeju Island are usually in Nohyeong-dong and Yeon-dong in Jeju City, Aewol coastal pockets and the Jungmun or Andeok areas on the Seogwipo side.
In these premium house areas of Jeju Island, a normal family house usually costs about KRW 700 million to KRW 1.5 billion, or about USD 474,000 to USD 1.01 million and EUR 398,000 to EUR 853,000.
These neighborhoods command the highest house prices because they combine scarce detached-house stock with airport access, sea-view demand, school demand or tourism-income potential.
The typical buyer in these premium Jeju Island neighborhoods is often a Korean high-income household, a second-home buyer, a school-focused family or a foreign buyer who wants a house that is easier to resell later.
How much do houses cost near the city center in Jeju Island as of 2026?
As of 2026, houses near Jeju City center, including Yeon-dong, Nohyeong-dong, Ido-dong, Samdo-dong, Donam-dong, Ora-dong and Ara-dong, usually cost about KRW 500 million to KRW 1.2 billion, or about USD 338,000 to USD 812,000 and EUR 284,000 to EUR 683,000.
Houses near major transit hubs in Jeju Island, especially around Jeju Airport, Jeju Bus Terminal, Nohyeong-ro, Doryeong-ro, Seogwang-ro and Donggwang-ro, usually cost about KRW 600 million to KRW 1.1 billion, or about USD 406,000 to USD 744,000 and EUR 341,000 to EUR 626,000.
Houses near the top international schools around Jeju Global Education City, including NLCS Jeju, Branksome Hall Asia, Korea International School Jeju and St. Johnsbury Academy Jeju, usually cost about KRW 600 million to KRW 1.4 billion, or about USD 406,000 to USD 947,000 and EUR 341,000 to EUR 796,000.
Houses in expat-popular areas of Jeju Island, including Global Education City, Aewol, Hamdeok, Jocheon, Jungmun, Andeok and parts of Seogwipo, usually cost about KRW 600 million to KRW 1.5 billion, or about USD 406,000 to USD 1.01 million and EUR 341,000 to EUR 853,000.
[VARIABLE EXPAT GUIDE]How much do houses cost in the suburbs in Jeju Island as of 2026?
As of 2026, a suburban house in Jeju Island usually costs about KRW 300 million to KRW 800 million, or about USD 203,000 to USD 541,000 and EUR 171,000 to EUR 455,000.
Suburban houses in Jeju Island are often 20% to 40% cheaper than similar city-center houses, which can mean a saving of about KRW 150 million to KRW 400 million, or about USD 102,000 to USD 271,000 and EUR 85,000 to EUR 228,000.
The most popular suburbs for house buyers in Jeju Island include Aewol inland, Jocheon inland, outer Ara, Bonggae, outer Ora, Namwon, Pyoseon, Andeok and outer Jungmun.
What areas in Jeju Island are improving and still affordable as of 2026?
As of 2026, the most interesting improving and still affordable house areas in Jeju Island are Gujwa-eup, Pyoseon-myeon, Namwon-eup, inland Hallim-eup, Hangyeong-myeon and parts of Seongsan-eup.
In these improving yet affordable areas of Jeju Island, a realistic house budget is about KRW 300 million to KRW 600 million, or about USD 203,000 to USD 406,000 and EUR 171,000 to EUR 341,000.
The main sign of improvement is not just tourism, but the spread of cafés, remote-work buyers, better-known beach villages and second-home demand beyond the older Aewol and Hamdeok hotspots.
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What extra costs should I budget for a house in Jeju Island right now?
What are typical buyer closing costs for houses in Jeju Island right now?
For a house in Jeju Island in 2026, a foreign buyer should usually budget about 4% to 7% of the purchase price for total closing costs.
On a KRW 600 million house in Jeju Island, that means about KRW 24 million to KRW 42 million, or about USD 16,000 to USD 28,000 and EUR 14,000 to EUR 24,000, mainly for acquisition tax, surtaxes, brokerage, registration, legal help, bond discount costs and translations.
The largest closing cost for most Jeju Island house buyers is usually acquisition tax and related surtaxes, because this tax is based on the purchase price and buyer status.
We cover all these costs and what are the strategies to minimize them in our property pack about Jeju Island.
How much are property taxes on houses in Jeju Island right now?
For a normal house in Jeju Island in 2026, annual property tax is often about KRW 500,000 to KRW 1.8 million, or about USD 340 to USD 1,220 and EUR 285 to EUR 1,025.
Property tax on houses in Jeju Island is calculated mainly from the official assessed value, not the full market price, which is why the annual bill can feel modest compared with the purchase price.
[VARIABLE PROPERTY TAXES FEES]How much is home insurance for a house in Jeju Island right now?
For a normal detached house in Jeju Island in 2026, annual home insurance usually costs about KRW 300,000 to KRW 900,000, or about USD 200 to USD 610 and EUR 170 to EUR 510.
The main factors that affect home insurance premiums for houses in Jeju Island are house age, roof condition, distance from the coast, typhoon exposure, fire coverage, guesthouse use and whether the house has older wiring or heating equipment.
What are typical utility costs for a house in Jeju Island right now?
For a normal detached house in Jeju Island in 2026, total monthly utilities usually cost about KRW 250,000 to KRW 500,000, or about USD 170 to USD 338 and EUR 142 to EUR 284.
A practical monthly utility breakdown for a Jeju Island house is about KRW 70,000 to KRW 200,000 for electricity, KRW 80,000 to KRW 250,000 for heating fuel, LPG or electric heating, KRW 20,000 to KRW 60,000 for water and sewer, and KRW 30,000 to KRW 60,000 for internet and basic waste costs.
What are common hidden costs when buying a house in Jeju Island right now?
Common hidden costs for house buyers in Jeju Island in 2026 often total about KRW 20 million to KRW 80 million, or about USD 14,000 to USD 54,000 and EUR 11,000 to EUR 46,000.
Inspection fees for a house in Jeju Island usually cost about KRW 500,000 to KRW 1.5 million, or about USD 340 to USD 1,015 and EUR 285 to EUR 855, while deeper checks can reach KRW 3 million, or about USD 2,030 and EUR 1,710.
Other hidden costs beyond inspections include roof repairs, damp treatment, septic or drainage work, retaining walls, old wiring, boiler replacement, pest treatment, boundary surveys and access-road fixes.
The hidden cost that surprises first-time house buyers in Jeju Island the most is often moisture and drainage work, because a house can look charming while still needing expensive protection from wind-driven rain and humidity.
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What do locals and expats say about the market in Jeju Island as of 2026?
Do people think houses are overpriced in Jeju Island as of 2026?
As of 2026, many locals and expats think houses in Jeju Island are expensive in prime areas, but they also see fairer value in rural Gujwa, Pyoseon, Namwon, Hangyeong and inland Hallim.
Detached houses in Jeju Island often stay on the market for 3 to 6 months, while overpriced rural homes, older coastal homes and properties with land-use complications can sit for 6 to 12 months or longer.
The main reason people call Jeju Island houses overpriced is that local wages do not always match prices in Jeju City, Aewol, Hamdeok, Jungmun and Global Education City, where lifestyle demand adds a premium.
Compared with one or two years ago, sentiment in Jeju Island is more selective in 2026, because buyers are less willing to pay high prices for houses with poor insulation, unclear boundaries, weak road access or unrealistic rental assumptions.
[VARIABLE REAL ESTATE MARKET]Are prices still rising or cooling in Jeju Island as of 2026?
As of 2026, house prices in Jeju Island look mostly flat to slightly cooling, with better resilience in Jeju City, Global Education City, Aewol, Hamdeok and Jungmun.
A realistic year-over-year change for normal detached houses in Jeju Island in 2026 is about -1% to +2%, with weaker results for overpriced older rural houses and stronger results for clean, well-located family homes.
Over the next 6 to 12 months, local market watchers are likely to expect a selective Jeju Island house market, where legal clarity, parking, insulation, road access and realistic pricing matter more than broad island-wide price growth.
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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 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 | Why we trust it | How we used it |
|---|---|---|
| MOLIT Real Transaction Price Disclosure System | It is Korea’s official reported transaction-price database. | We used it as the main anchor for completed house-sale evidence in Jeju Island. We gave it more weight than asking prices because it reflects reported transactions. |
| MOLIT Statistics Portal | It is Korea’s official housing and land statistics portal. | We used it to understand wider transaction and unsold-housing context. We used this context to judge whether Jeju Island looked liquid or slow in 2026. |
| Korea Real Estate Board Transaction Statistics | REB aggregates official Korean real estate transaction statistics. | We used it to understand transaction methodology and market structure. We gave REB and MOLIT more weight than private portals. |
| Korea Real Estate Board House Price Trends | It is a long-running official house-price survey. | We used it to check whether Jeju Island house prices were rising, flat or cooling. We did not use it alone for bedroom-level house prices. |
| RealtyPrice | It is Korea’s official public-price portal. | We used it to cross-check official assessed values for houses and land. We did not treat assessed values as full market prices. |
| KB Land Data Hub | KB is a major private Korean housing-index provider. | We used it as a private-sector cross-check on price direction. We did not use it alone to set Jeju Island house prices. |
| KOSIS / Statistics Korea | It is Korea’s official national statistics service. | We used it for macro and household-cost context. We used it to avoid relying only on real estate portals. |
| KEPCO | KEPCO is Korea’s national electricity utility. | We used it to frame electricity costs under Korea’s residential tariff system. We adjusted the estimate for larger detached houses in Jeju Island. |
| Jeju Province Water Tariff Page | It is Jeju’s official water-rate source. | We used it to estimate water and sewer costs for detached houses. We kept the range conservative because gardens can raise consumption. |
| Jeju Bus Information System | It is Jeju’s official public-bus information system. | We used it to identify where transit access matters in Jeju Island. We treated bus corridors as important because Jeju Island has no subway. |
| JDC Global Education City | JDC is the official developer behind the education city. | We used it to identify the school-driven premium near Daejeong and Andeok. We cross-checked the school names used in this article. |
| JejuBi Property | It is a specialist Jeju brokerage with visible listings. | We used it only as live-listing calibration for size, bedroom and area bands. We did not treat asking prices as official market prices. |