Is it worth it buying property in Jeju Island in 2025?

Authored by the expert who managed and guided the team behind the South Korea Property Pack

Yes, the analysis of Jeju Island's property market is included in our pack

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in South Korea. If you'd like to learn more about us, you can check our presentation page.

What property types are available on Jeju Island, and who's buying them?

Jeju Island's property market offers diverse options catering to different buyer profiles and investment strategies.

Modern apartments in Jeju City and Seogwipo dominate the market, attracting young professionals, digital nomads, and families who value urban amenities and convenience. Luxury villas and beach houses with ocean views command premium prices, particularly appealing to wealthy domestic buyers and international investors from China, North America, and Southeast Asia. Traditional Hanok homes, while less common and typically expensive, attract buyers seeking cultural authenticity.

The buyer landscape has evolved significantly, with domestic professionals and families relocating for lifestyle improvements or remote work opportunities making up a substantial portion of the market. International investors, particularly from China but increasingly from Western countries, view Jeju properties as vacation homes or rental investments. The island's growing tech hub status and government incentives have also attracted a new wave of digital nomads and remote workers.

Investment properties, including small apartments and guesthouses in tourist-heavy zones, remain popular among buyers seeking rental income. Countryside homes and townhouses in semi-rural areas appeal to retirees and families prioritizing space and tranquility over urban convenience.

It's something we develop in our South Korea property pack.

How have Jeju property prices changed, and where are they heading?

Jeju Island's property market experienced dramatic growth in 2023-2024, with values rising more than twice the national average.

During this period, coastal and luxury properties led the surge, creating a heated market environment. However, by late 2024 and into 2025, the market has cooled considerably, with transaction volumes increasing but prices stabilizing or even declining slightly in some segments. This shift reflects broader economic uncertainties and a natural market correction after the rapid appreciation.

As of June 2025, the forecast varies significantly by location. Urban and coastal areas like Seogwipo, Jungmun-dong, and Aewol are expected to see moderate price increases of 3-7%, driven by sustained tourism, infrastructure development, and limited supply. The luxury segment continues to hold strong due to scarcity and persistent demand from affluent buyers.

Conversely, rural interior properties are likely to experience price drops as urbanization continues and demand shifts toward cities. The overall market shows stability rather than explosive growth, with specific areas demonstrating resilience while others face stagnation or decline. This nuanced landscape requires buyers to carefully consider location and property type when making investment decisions.

Should you buy or rent on Jeju Island in 2025?

The decision between buying and renting on Jeju Island depends heavily on your timeline, financial situation, and lifestyle goals.

Buying offers several advantages for those planning long-term residence or seeking investment returns. Property ownership provides potential for appreciation, especially in prime locations, along with the opportunity to generate rental income in tourist zones. Buyers also gain flexibility for personal use and the stability of a permanent base. However, purchasing requires substantial upfront costs, ongoing maintenance responsibilities, and exposure to market fluctuations. The process also involves navigating complex legal and tax requirements, particularly for foreign buyers.

Renting provides flexibility and lower initial costs, making it ideal for newcomers testing the island lifestyle or those with uncertain long-term plans. With rents rising approximately 3% in 2024, the rental market remains competitive, especially in prime areas where availability is limited. Renters avoid maintenance burdens and can easily relocate if circumstances change.

For those planning to stay on Jeju Island for more than three years, buying generally proves financially advantageous given the island's rental yields and appreciation potential. Short-term residents or those still exploring different areas of the island will find renting more practical and less risky.

What trends are shaping Jeju's real estate market this year?

Several key trends are defining Jeju Island's property market as we reach mid-2025.

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How do foreigners buy property on Jeju Island?

Foreign property purchase on Jeju Island follows a structured process with specific requirements.

First, find a reliable agent through platforms like Naver Real Estate, Zigbang, or Dabang, or seek recommendations from expat groups and local real estate offices. Property selection requires thorough due diligence, including on-site visits, ownership verification, lien checks, and ensuring the property isn't in a restricted zone. Once you've chosen a property, sign a sales agreement with a typical 10% deposit.

Foreigners must register the purchase with local authorities within 60 days of acquisition. This involves submitting the Land Acquisition Report and related documents. All transactions must be in Korean Won (KRW), often requiring a Korean bank account, and large transfers must be reported to the Bank of Korea under the Foreign Exchange Transactions Act.

Foreign buyers pay the same taxes as locals, including acquisition tax, registration tax, and annual property taxes. For those seeking residency, investing over 500 million KRW (approximately $374,000) in designated properties may qualify for a residence visa, though requirements have been tightening recently. Working with a bilingual agent or lawyer is highly recommended to navigate the Korean-language contracts and legal requirements.

Where can you find reliable property agents and listings?

Finding trustworthy property resources on Jeju Island requires knowing where locals and expats successfully search.

1. Naver Real Estate (네이버 부동산) - The most comprehensive listing platform in South Korea, offering extensive property options though primarily in Korean
2. Zigbang (직방) and Dabang (다방) - Popular mobile apps with user-friendly interfaces, mainly in Korean but increasingly accessible to foreigners
3. Local Real Estate Offices (부동산) - Traditional brick-and-mortar offices, especially in expat-friendly areas where some agents speak English
4. Expat Community Resources - Jeju Expats Facebook group and Reddit's r/Living_in_Korea provide personal recommendations and experiences
5. Specialized Agencies - Ziptoss offers English-language services, while Creatrip provides rental support for foreigners

When selecting an agent, prioritize those with experience serving international clients and verifiable track records. Request references from previous foreign buyers and ensure they're properly licensed. Many successful buyers recommend visiting multiple agents to compare properties and negotiating styles before committing.

What can different budgets buy on Jeju Island?

Property affordability on Jeju Island varies dramatically based on location, type, and amenities.

Entry-level buyers with $180,000-$250,000 can access condominiums in Jeju City or properties in remote areas, though these come with tradeoffs including smaller sizes, fewer amenities, and less scenic locations. The $390,000-$550,000 range opens up 1-2 bedroom apartments in semi-urban areas, suitable for couples or small families seeking moderate amenities and reasonable access to city conveniences.

Premium properties starting at $1,000,000 include houses in desirable areas like Jungmun or Seogwipo, offering luxury features, ocean views, and strong rental potential, though with correspondingly high taxes and maintenance costs. The ultra-luxury segment, ranging from $1,500,000-$2,000,000, encompasses prime coastal villas with top-tier amenities, scarce supply, and strong resale value.

Prime areas like Seogwipo and Jungmun-dong command significantly higher prices than rural or inland districts. Cheaper zones such as Namwon and Jocheon offer more space for the money but may lack urban conveniences and show lower rental demand, making them better suited for personal use than investment purposes.

It's something we develop in our South Korea property pack.

Which areas offer the best investment potential?

Jeju Island's diverse districts offer varying opportunities for property investors in 2025.

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 does Jeju's cost of living affect property value?

Jeju Island's cost of living directly impacts property values and investment returns.

The average monthly living cost stands at approximately $1,080 for a single person and $3,087 for a family of four, including rent. These figures position Jeju as more affordable than Seoul but pricier than many mainland cities. Rental costs remain reasonable, with one-bedroom city center apartments averaging $412 monthly and three-bedroom units ranging from $822-$982.

Utilities, food, and transportation costs align with Korean standards but exceed those of smaller mainland cities. The island's high quality of life—featuring excellent healthcare, clean environment, and abundant recreational opportunities—justifies these slightly elevated costs for many residents. This combination of reasonable living expenses and exceptional lifestyle amenities creates steady demand from both residents and investors.

The relatively lower cost of living compared to Seoul, coupled with superior quality of life metrics, makes Jeju properties attractive for remote workers and retirees. This demographic shift supports property values, particularly in areas offering the best balance of affordability and amenities. Properties in locations with easy access to daily necessities while maintaining the island's natural charm tend to hold value best.

What mistakes should you avoid when buying property here?

Property buyers on Jeju Island frequently encounter pitfalls that can be avoided with proper preparation.

Skipping due diligence ranks as the most costly mistake, with buyers failing to verify legal status, ownership clarity, or zoning restrictions. Always conduct thorough checks or hire a local lawyer familiar with property law. Language barriers create significant challenges since most contracts are in Korean—using a bilingual agent or professional translator is essential, not optional.

Market trend ignorance leads many buyers to overpay in declining areas or miss opportunities in emerging districts. Research local dynamics thoroughly rather than relying on general island-wide statistics. Social media hype can drive emotional decisions and bidding wars—maintain objectivity and stick to predetermined budgets based on comparable sales data.

Property inspections receive less emphasis in South Korea than in Western countries, but personally checking for defects and building quality remains crucial. Many buyers also underestimate ongoing costs, including property taxes, maintenance, and potential vacancy periods for rental properties. Understanding tax obligations and residency rules proves critical, as failing to properly register property or report foreign fund transfers can result in substantial fines.

Perhaps most importantly, avoid assuming all areas offer equal investment potential. Each district has unique characteristics affecting livability and returns—match your specific lifestyle and investment goals to the appropriate area.

What's expat life like on Jeju Island?

Living on Jeju Island as an expat offers a unique blend of natural beauty, modern conveniences, and cultural experiences.

The island's slower pace of life attracts expats seeking escape from urban stress, with clean air, stunning landscapes, and a strong outdoor culture defining daily life. The growing expat community provides social support, though building meaningful local connections requires effort and often some Korean language skills. Many expats describe the lifestyle as balanced, offering both the tranquility of island living and access to modern amenities.

Transportation presents both opportunities and challenges. While public transport covers main routes adequately, owning a car becomes nearly essential for those living outside Jeju City or Seogwipo. This requirement adds to living costs but provides freedom to explore the island's diverse attractions. The island's compact size means nowhere is more than an hour's drive away.

Home ownership fits well into the expat lifestyle for those committed to long-term residence. Owning provides stability, the ability to customize living spaces, and potential appreciation. However, it also ties you to one location and requires navigating property management responsibilities. Many expats recommend renting for at least a year to understand different neighborhoods and confirm the lifestyle suits them before purchasing.

The international community continues growing, with digital nomads, retirees, and families creating diverse social networks. This expansion has led to more international schools, Western restaurants, and expat-oriented services, making integration easier than ever before.

What rental income can you expect from investment properties?

Jeju Island's rental market offers varied opportunities depending on property type and rental strategy.

Long-term rentals provide steady income with less management intensity. Demand remains consistent from students, professionals, retirees, and families seeking permanent residence. Popular areas include Jeju City, Seogwipo, Aewol, and Hallim, where well-located apartments and homes typically yield 3-5% annually. The tenant profile encompasses locals, expats, and increasingly, remote workers seeking stable accommodation.

Short-term vacation rentals offer higher potential returns but require more active management. Tourist hotspots generate strong demand for unique properties like villas, beach houses, and well-appointed guesthouses. Average daily rates range from $41-$209, with annual revenue per listing varying from $2,000 to $15,000 depending on property quality, location, and occupancy rates.

The most profitable short-term rental areas include Jungmun-dong, coastal Seogwipo, Aewol's beachfront, Hallim's tourist zones, and the picturesque Udo-myeon area. These locations benefit from consistent tourist traffic and limited hotel competition. However, operators must navigate local zoning restrictions, registration requirements, and tax obligations. Some areas limit Airbnb-style rentals to protect traditional hotels or residential neighborhoods.

Success in either rental strategy depends on property selection, pricing strategy, and consistent management. Properties offering unique features—ocean views, traditional architecture, or proximity to attractions—command premium rates and higher occupancy.

Is buying property on Jeju Island worth it in 2025?

The decision to buy property on Jeju Island in 2025 depends on your specific goals and circumstances.

For personal residence, purchasing makes sense if you seek a unique lifestyle combining natural beauty with modern amenities, plan to stay long-term, and can afford the upfront investment. The island offers an exceptional quality of life that justifies property ownership for committed residents. However, short-term visitors or those uncertain about island life should rent first to confirm the lifestyle matches expectations.

As a rental investment, Jeju properties in tourist zones and urban centers continue generating solid returns. Coastal areas and emerging districts like Aewol and Hallim show particular promise for rental yields. The key lies in selecting properties in high-demand areas and understanding the management requirements, especially for short-term rentals. Long-term rentals offer more passive income but generally lower yields.

For resale potential, prime and emerging areas present opportunities, but investors must be selective. Urban and coastal properties in developing areas may appreciate, while rural and oversupplied zones face stagnant or declining values. The market's current stability means spectacular gains are unlikely, but careful selection can yield moderate appreciation.

Success requires understanding that Jeju's market has matured from its rapid growth phase into a more nuanced landscape where location, property type, and buyer objectives determine outcomes. Those willing to research thoroughly, select carefully, and manage actively can find rewarding opportunities in this unique island market.

It's something we develop in our South Korea property pack.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Jeju Island Real Estate Forecasts - BambooRoutes
2. Jeju Island Price Forecasts - BambooRoutes
3. Jeju Island Real Estate Market Analysis - BambooRoutes
4. South Korea Price History - Global Property Guide
5. Jeju Island Homes: Buy Your South Korea Escape - Moving Countries Guide
6. Jeju Island Property Overview - BambooRoutes
7. Can Foreigners Buy Property in Jeju? - Arab MLS
8. Residence Visa through Property Investment - Nomad Capitalist
9. Finding Your Perfect Home in Korea: Top Apps & Tips - Fanwork
10. Cost of Living in Jeju Island - Living Cost