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
Are you considering a lucrative investment opportunity in a picturesque location? Wondering why Jeju Island is becoming a hotspot for property buyers? Curious about the benefits of owning a piece of this paradise in 2025?
We will lay down recent insights, ici no guesswork, we rely only on solid data.
Actually, we know this market inside and out. We keep tabs on it regularly, and all our discoveries are reflected in the most recent version of the South Korea Property Pack
1) Jeju's self-governing status enables more flexible real estate rules than mainland Korea
Jeju Island's unique self-governing status offers more flexible real estate regulations than mainland Korea, making it a hotspot for foreign investors.
Thanks to this special status, Jeju can roll out policies that actively encourage foreign investment. For example, if an area is marked as an investment promotion zone, corporate and income taxes are waived for three years, followed by a 50% reduction for the next two years. This is a sweet deal compared to the mainland.
On top of that, local acquisition and property taxes see a 75% reduction for five years and a 10-year reduction, making Jeju a magnet for international investors. These tax perks are far more generous than what you'd find elsewhere in Korea.
Jeju also shines with its residency-by-investment program, which has been a hit among international residents. By investing a certain amount in local real estate, foreigners can snag long-term residency rights, adding another layer of appeal to the island.
The island's streamlined approval processes for property development cut through the red tape, making investment opportunities quicker and easier to seize. This efficiency is a big draw for those looking to invest without the usual bureaucratic headaches.
Jeju's special status not only makes it a real estate haven but also a place where investment opportunities are abundant and accessible. The island's approach is a breath of fresh air for investors seeking flexibility and favorable conditions.
Sources: MK Real Estate, MK Special Edition, Focus on Geography
2) Jeju Island's location between China Japan and Korea attracts many international visitors
Jeju Island is perfectly positioned between China, Japan, and Korea, making it a magnet for international travelers.
In 2023, Jeju welcomed over 13.3 million visitors, with more than 300,000 coming from China alone. This surge is largely because Jeju is so close to major Asian countries, making it an easy and attractive getaway.
Flight connections have really taken off, too. By January 2024, Jeju was set to have 148 international flights each week, a big jump from just 20 flights in the winter of 2022. This makes it super convenient for tourists from nearby countries to pop over for a visit.
The Korean government and local authorities are pulling out all the stops to promote Jeju as a top international destination. They're working on boosting air and sea connectivity and upgrading infrastructure to handle more visitors. These efforts are paying off, making Jeju even more appealing to tourists worldwide.
Jeju's charm isn't just in its location; it's also about the experience. The island offers a unique blend of natural beauty and cultural richness, which is why it's becoming a must-visit spot for travelers looking for something special.
With all these developments, Jeju is not just a stopover; it's becoming a destination in its own right, drawing in visitors who are eager to explore its unique offerings.
Sources: Korea Times, Inside Jeju
Everything you need to know is included in our Property Investment Pack for Jeju Island
3) Jeju's marine life and water sports boost demand for coastal properties
Jeju Island is a hotspot for marine enthusiasts, thanks to its vibrant marine life and thrilling water sports.
In 2022, Jeju's tourism revenue hit a record 7.6 trillion won, largely fueled by marine tourism. This surge highlights the island's allure for ocean adventures, drawing visitors eager to dive into its waters.
Jeju has ramped up its water sports facilities, offering popular diving and snorkeling spots. The island's unique underwater landscapes, like caves and arches, are a big draw, heavily promoted to attract tourists keen on exploring these wonders.
Events like the Jeju Dory Festival celebrate the island's rich marine culture, pulling in crowds and sparking interest in its coastal areas. Media coverage and surveys consistently show a strong fascination with Jeju's marine life and water sports, enhancing its appeal.
The boom in marine tourism has led to a noticeable rise in demand for coastal properties. Many property owners are enjoying higher rental income as tourists flock to stay near Jeju's marine attractions, showcasing the economic perks for locals.
Sources: MK, Invest Korea, Trip.com
4) Jeju's government provides incentives for eco-friendly projects to attract sustainable investments
Jeju's local government is actively encouraging eco-friendly developments by offering attractive incentives to draw in sustainable investments.
They've rolled out various grants and subsidies, like the Wind Resource Allocation Fund Ordinance, to back renewable energy projects and educational initiatives. This financial support is crucial for effectively managing wind resources and pushing forward green technologies.
Jeju is on a mission with its Carbon-Free Island JEJU by 2030 (CFI2030) initiative, aiming to power the entire island with renewable energy. This ambitious goal has led to a boom in wind and solar power capacities, positioning Jeju as a leader in renewable energy.
By 2022, Jeju's wind power capacity had increased 22-fold since 2006, and solar power capacity has also seen impressive growth. This progress is a testament to the island's commitment to sustainability and innovation.
Jeju's dedication to green energy has caught the eye of international investors, especially in the field of green hydrogen production technology. This technology not only promises export potential but also plays a role in cutting greenhouse gas emissions.
The local government's support for eco-friendly projects has sparked significant interest among investors, further fueling Jeju's sustainable development. This makes Jeju a hotspot for those looking to invest in a greener future.
Sources: ESMAP, Inside Climate News, OECD OPSI
5) Jeju Island's volcanic landscapes and beauty drive constant tourist influx increasing rental demand
Jeju Island's stunning volcanic landscapes and natural beauty draw millions of tourists each year.
In 2023, Jeju welcomed 13.34 million tourists, mostly domestic visitors. By November 2024, the island had already seen 11.6 million tourists, marking a 2.2% increase from the previous year.
Jeju City is a hotspot for short-term rentals, with Airbnb listings showing a 72% occupancy rate. This high demand is driven by South Koreans who flock to Jeju for its relaxing and romantic getaways.
Jeju's natural wonders, including its UNESCO World Heritage sites, are often featured in travel guides, adding to its charm. The government actively promotes Jeju, ensuring a steady stream of visitors and boosting the local economy.
Tourism-related businesses are thriving, thanks to the continuous influx of tourists. This growth has led to significant infrastructure development, further increasing rental demand.
Jeju's appeal as a top domestic travel destination is undeniable, with its unique landscapes and attractions consistently drawing visitors. The island's popularity shows no signs of waning, making it a prime spot for property investment.
Sources: Invest Korea, Airbtics, Hidden Lanes, Korea JoongAng Daily
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6) Jeju's mild climate guarantees steady rental income all year round
Jeju Island's mild climate makes it a comfortable place to visit all year round.
With average temperatures ranging from 13.4°C to 19.3°C, Jeju offers a pleasant escape from the more extreme weather found in places like Seoul. This inviting climate is a magnet for tourists who love outdoor activities without the hassle of extreme heat or cold.
In 2023, Jeju attracted 13.34 million tourists, and in 2024, it welcomed over 11.6 million visitors. This steady influx of people, regardless of the season, shows that Jeju is a popular destination year-round. The rise in foreign visitors, especially from China, underscores Jeju's growing international appeal, making rental properties a smart investment with stable occupancy rates.
Jeju is bustling with festivals and events throughout the year, like the Jeju Cherry Blossom Festival in spring and the Jeju Winter Festival. These events keep the island lively and draw visitors in every season. The hospitality industry is booming, and more international flights are landing in Jeju, all thanks to its year-round attractiveness.
For those considering property investment, Jeju's climate is a key selling point. The island's mild weather ensures a consistent flow of tourists, which translates to reliable rental income. Whether it's the lush spring blossoms or the cozy winter festivities, there's always something happening on Jeju.
With its unique blend of natural beauty and cultural events, Jeju stands out as a prime location for property buyers looking for a steady return on investment. The island's consistent tourist numbers are a testament to its enduring appeal.
Sources: Jeju climate: weather by month, temperature, rain, Jeju tourist numbers increase by 2.2% on year led by foreign visitors, Jeju drew 13.34 million tourists in 2023
7) Jeju's new airport and infrastructure boost accessibility and make property more desirable
Jeju Island is becoming more accessible thanks to its expanding infrastructure and a new airport.
With over 13 million tourists visiting Jeju in 2023, the island is already a popular destination, and the new airport is set to boost these numbers even further. The South Korean government is backing this project with a hefty investment of KRW5.5 trillion (USD4.1 billion) by 2024, aiming to transform Jeju into a major travel hub.
This isn't just about adding another airport; it's about creating a facility that can handle up to 19.92 million passengers annually by 2055. This means more flights, less congestion, and a smoother travel experience, making Jeju even more appealing to visitors.
As travel becomes easier, the island's property market is heating up. The tourism industry is growing at a rate of about 10% annually, which has already led to rising property values. With the new airport, areas nearby are expected to attract even more interest from buyers and investors.
Jeju is quickly becoming a real estate hot spot, with its improved accessibility making it a prime location for investment. The new airport is a game-changer, enhancing the island's appeal and boosting its property market.
For those considering buying property in Jeju, now might be the perfect time to dive in, as the island's infrastructure improvements are set to make it an even more desirable place to live and invest.
Sources: CAPA Centre for Aviation, JoongAng Daily, Yonhap News, The Korea Times
8) Jeju's rising fame as a wedding spot drives demand for event and accommodation spaces
Jeju Island is becoming a hot spot for destination weddings, and it's shaking up the local event and accommodation scene.
With its stunning landscapes and modern amenities, Jeju Island is drawing more couples to tie the knot there. This surge in weddings is not just about the vows; it's about the whole experience. Couples rave about the island's beauty, and their glowing reviews are spreading the word.
As a result, the demand for places to stay has skyrocketed. In early 2024, hotel rates in South Korea jumped, with Jeju leading the charge. This isn't just a coincidence; more guests are booking rooms, whether they're there for a wedding or just to soak in the views. Occupancy rates are climbing, showing a clear need for more accommodation options.
But it's not just about where to sleep. The wedding boom has sparked a rise in wedding planners and event companies on the island. Venues like the JW Marriott Jeju Resort and Spa are stepping up, offering tailored services to make each wedding unique. This trend highlights the growing demand for personalized and unforgettable wedding experiences.
Jeju's appeal isn't just in its scenery; it's in the complete package it offers. The island's ability to cater to diverse wedding needs is a big draw. From intimate ceremonies to grand celebrations, Jeju is becoming the go-to spot for couples looking for something special.
As more people flock to Jeju for weddings, the island's hospitality and event sectors are thriving. This growth is a testament to Jeju's rising status as a premier wedding destination, attracting not just couples but also businesses eager to meet the demand.
Sources: Korea Bizwire, Skift, Marriott
Everything you need to know is included in our Real Estate Pack for Jeju Island
9) Jeju Island's rising fame as a wellness retreat boosts demand for vacation homes
Jeju Island is becoming a hotspot for wellness and retreat seekers, making vacation homes highly sought after.
In recent years, Jeju has seen a boom in wellness and retreat centers, thanks to efforts by the Jeju Special Self-Governing Province and the Jeju Tourism Organization. They’ve rolled out new wellness destinations and programs like "Silent Meditation, Jeju's Consolation," which have caught the attention of many.
With these initiatives, over 13 million tourists visited Jeju in both 2023 and 2024, many drawn by the island's wellness offerings. This influx shows a clear demand for wellness experiences, and with Jeju's stunning natural backdrop, it's no wonder people are flocking here.
Jeju has also hosted international wellness events, which have put it on the map as a top wellness destination. This buzz has made the island even more appealing for those eyeing vacation homes. During peak wellness seasons, vacation rentals are snapped up quickly, especially those with features that cater to wellness enthusiasts.
Investors are taking note, as the island's unique environment and government support are likely to keep drawing in wellness-focused visitors. Properties that offer tranquility and natural beauty are particularly in demand, aligning with the island's wellness vibe.
For anyone considering a property investment, Jeju's growing reputation as a wellness haven is a compelling reason to dive in. The island's charm and strategic initiatives are setting the stage for a thriving vacation home market.
Sources: Jeju Island Wellness Resources, Jeju Island Selected 12 New Wellness Tourist Destinations, Jeju Drew 13.34 Million Tourists in 2023
10) Jeju's schools attract families relocating
Jeju Island is becoming a top choice for families looking to move, thanks to its excellent educational institutions, including international schools.
One big draw is the high enrollment rates in these schools, which have been climbing steadily. For instance, the average enrollment rate jumped from 73.7% in 2019 to 93.7% last year, showing that more families trust the quality of education here.
Jeju's appeal is also boosted by the growing number of international schools setting up shop. This trend took off after the Foreign Educational Institutions Act was revised in 2020, making it easier for schools to establish themselves in the area. Schools like North London Collegiate School Jeju (NLCS Jeju) and Branksome Hall Asia have set a high bar, inspiring other regions to follow Jeju's lead.
These schools are not just numerous; they are also highly rated. NLCS Jeju, for example, is recognized among the top 20 boarding schools for affordability and has won several awards. It's accredited by prestigious organizations like COBIS, CIS, and IBO, which guarantees high educational standards.
Families are also attracted by the diverse student population and the rich curriculum offered. NLCS Jeju, for instance, has students from various nationalities and provides a British Curriculum in an English-speaking environment, which is a big plus for international students.
Sources: Boarding School Review, ICEF Monitor, Korea International School Network
11) Jeju's vibrant art scene attracts creatives increasing demand for studio spaces
Jeju Island is buzzing with creativity, thanks to its vibrant art scene and numerous galleries.
Over the past decade, Jeju has transformed into a haven for artists, with places like the Arte Museum and Podo Museum leading the charge in media art. These venues have become magnets for both artists and art lovers, creating a lively cultural atmosphere.
In 2023 and 2024, Jeju's reputation as an art hub gained momentum, with media outlets frequently spotlighting its abundance of museums and galleries. This attention has made Jeju a hot spot for artists considering relocation, further fueled by events like the Jeju Biennale, which recently featured artists from 14 different countries.
The local government is also playing a big role, actively supporting the arts with cultural subsidies and expanded social infrastructure. This backing has made Jeju an even more attractive place for artists to settle and thrive.
Art-focused tourism packages are on the rise, drawing in tourists and boosting the demand for studio spaces. As the local art community grows, Jeju is becoming a bustling center for creativity.
Sources: Dstrict, Korea JoongAng Daily, Yonhap News Agency, Korea JoongAng Daily
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12) Jeju's cuisine and food markets attract culinary tourists boosting hospitality investments
Jeju's local cuisine and food markets are a big draw for culinary tourists, leading to significant hospitality investments.
In 2023, Jeju Island welcomed 13.34 million tourists, many of whom were there for the food. This trend continued into 2024, with over 11.6 million visitors, largely driven by foreign tourists, especially from China.
Jeju's unique culinary heritage is gaining international fame. Villages like Sehwa and Dongbaek have been recognized on the U.N. World Tourism Organization's Best Tourism Villages list, highlighting Jeju's gastronomic treasures and attracting food lovers from around the globe.
The Jeju Food & Wine Festival is a major event that showcases collaborations between local and international chefs, further boosting Jeju's culinary reputation. The festival focuses on using local ingredients, creating new recipes that highlight Jeju's exceptional culinary offerings.
Positive reviews and ratings on travel platforms show high satisfaction among culinary tourists, which supports the growing demand for food tours and experiences. This demand has led to increased investments in hospitality infrastructure, with events held at prominent venues like the Jeju Halla Convention Center and Haevichi Hotel & Resort Jeju.
Sources: Invest Korea, Korea Times, Korea.net
This article gives you valuable insights, but remember, it’s not and will never be investment advice. We pull data from a range of sources to provide you with the most accurate picture possible, yet we can’t guarantee complete accuracy. Markets are difficult to predict. Make sure to do your own research and consult a professional before making any financial moves. Any risks or losses are your own responsibility.