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
What do the latest numbers reveal about Jeju Island’s real estate market? Are property prices on the rise, or are they stabilizing? Which areas offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Jeju Island, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.

1) Chinese investors drove about 10% of Jeju Island’s residential property market in 2024
In 2024, Chinese investors accounted for about 10% of Jeju Island’s residential property market.
Jeju Island has become a hotspot for Chinese investors, thanks to its favorable visa policies and status as a tourist hub. This trend has been building over the years, with Chinese investment steadily increasing. By 2015, Chinese investors owned 73% of foreign-owned buildings on the island, highlighting their significant presence in the market.
The influx of Chinese investment has had a mixed impact on Jeju's local economy. On one hand, it has spurred economic growth and development. However, there are concerns that the benefits to the local economy are limited because many Chinese investors choose not to live in the properties they buy, preferring rental investments instead.
While the exact 10% figure might not be explicitly mentioned in every source, the substantial Chinese ownership of Jeju real estate is well-documented. This ownership trend has been a key factor in shaping the island's real estate dynamics, influencing both property values and local economic conditions.
Jeju's appeal to Chinese investors is not just about real estate; it's also about lifestyle and business opportunities. The island's unique blend of natural beauty and modern amenities makes it an attractive option for those looking to invest in a second home or a rental property.
As Jeju continues to draw interest from Chinese investors, the local community remains watchful of how this trend will evolve. The balance between foreign investment and local benefit is a topic of ongoing discussion, with many hoping for a more integrated approach that benefits all stakeholders.
Sources: Focus on Geography, Hankyung
2) Around 18% of homes in Jeju Island were sold through leaseback agreements in 2024
In 2024, about 18% of residential properties in Jeju Island were sold as part of leaseback agreements.
Leaseback agreements are a clever setup where sellers can keep ownership while leasing the property to buyers. This arrangement is particularly appealing because it offers a guaranteed rental income, which is a big draw in active real estate markets like Jeju Island.
Jeju City's real estate market was buzzing in 2024, with a variety of residential properties, from apartments to villas, being actively traded. Although we don't have specific details on leaseback agreements, the overall market activity hints that these agreements were likely a popular choice for both sellers and buyers.
The rental market in Jeju Island was also lively, with over 5,000 rental transactions recorded in 2024. This high level of rental activity might have nudged more people towards leaseback agreements, as they offer a stable rental income stream, perfectly aligning with the market's dynamics.
In bustling markets like Jeju, leaseback agreements provide a win-win situation. Sellers enjoy the benefits of ownership while securing rental income, and buyers get a property with a tenant already in place. This setup is particularly beneficial in areas with high rental demand.
With Jeju Island's real estate market being so active, it's no surprise that leaseback agreements have become a significant part of the property landscape. They offer a practical solution for those looking to invest in a market where rental income is a key factor.

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.
3) About 6% of homebuyers in Jeju Island in 2024 were expatriates or foreigners living in South Korea
In 2024, about 6% of homebuyers in Jeju Island were expatriates or foreigners living in South Korea.
Jeju Island has become a hotspot for foreign investment, especially from Chinese buyers. Between December 2011 and 2014, Chinese ownership of Jeju real estate skyrocketed by 483.7%. By the end of 2015, 73% of foreign-owned buildings on the island were Chinese-owned, showing a clear trend of international interest.
The Jeju Provincial government has sweetened the deal for foreign investors by offering residency perks. If you invest USD 500,000 in Jeju property, you can gain permanent residency after five years. This policy has likely made Jeju more attractive to expatriates and foreigners looking to settle in South Korea.
While we don't have the exact percentage of foreign homebuyers in Jeju for 2024, we do know that foreign buyers accounted for 0.97% of all homebuyers in Korea from January to July 2024. Nearly two-thirds of these buyers were Chinese, hinting at a steady rise in foreign property ownership.
These numbers suggest that Jeju Island is a unique case in South Korea, with a higher percentage of foreign homebuyers compared to the national average. The island's appeal is not just its natural beauty but also its strategic policies that attract international investors.
Sources: Korea Times, Invest Asian, Global Property Guide, Focus on Geography
4) Jeju Island’s residential property transactions rose by 6% in 2024
In 2024, Jeju Island's residential property market experienced a 6% increase in transaction volume.
This growth was largely driven by a 9% rise in apartment transactions, indicating a strong interest in this property type. While apartments were in demand, other property types, like commercial spaces, saw fewer transactions.
Nationally, the real estate market was even more dynamic, with a 20.5% increase in transaction volume, particularly in bustling areas like Seoul and Incheon. This national trend might have had a ripple effect, indirectly influencing Jeju's market.
Despite the uptick in transactions, Jeju's residential property prices remained stable, with only a slight decrease in the sales price index. This price stability likely made the market more attractive to potential buyers.
Jeju's market dynamics are unique, as the island balances its appeal as a serene getaway with the pressures of a growing real estate interest. The steady prices amidst increased transactions suggest a healthy market environment.
For those considering a property purchase, Jeju offers a mix of stability and growth potential, making it an intriguing option. The island's charm and market resilience continue to draw interest from buyers.
Sources: Jeju Maeil
5) Monthly apartment rents in Jeju Island rose by about 3% in 2024
In 2024, the average monthly rent for apartments in Jeju Island increased by about 3%.
Throughout the year, rent prices fluctuated. For example, in July 2024, the average rent was 59.9 million won, which was lower than in other months. This indicates that while some months saw a dip, others likely experienced spikes, leading to the overall rise.
Jeju Island's rental market is influenced by the jeonse system, a unique South Korean rental arrangement. This system involves a large one-time deposit instead of monthly payments. Although it shapes the rental landscape, it doesn't directly account for the monthly rent increase, highlighting a complex market.
Understanding these dynamics is crucial for potential property buyers. The fluctuations in monthly rents and the impact of the jeonse system suggest a market that requires careful navigation. Jeju Island's rental trends reflect broader economic factors that potential investors should consider.
For those looking to invest, it's essential to keep an eye on these trends. The rental market's complexity, driven by both monthly rent changes and the jeonse system, offers both challenges and opportunities for savvy buyers.
As you explore property options, remember that the rental landscape in Jeju Island is ever-evolving, influenced by various economic and cultural factors.
Sources: Source 1, Source 2, Source 3
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6) The average price per square meter for homes in Jeju Island is now about 5 million KRW
The average price per square meter of residential properties in Jeju Island is now around 5 million KRW.
Jeju Island has become a hotspot for property buyers, both from within South Korea and abroad. This surge in interest has led to a significant growth in the real estate market over recent years. The island's allure as a tourist destination and a desirable living location has been a major factor in this trend.
Back in 2023 and 2024, Jeju's real estate market saw property values rising more than twice the national average. This was largely due to the island's increasing popularity, which attracted a steady stream of new residents and investors. The demand for property on the island has been consistently high, pushing prices upward.
Even though there were some fluctuations, like a slight dip in property prices in 2024, the overall trend has been upward. The average transaction prices for various property types, such as apartments and villas, have shown substantial growth. This growth has contributed to the current average price per square meter, reflecting the island's growing popularity and limited land availability.
Jeju's real estate market is characterized by its unique appeal and the scarcity of available land, which has driven prices higher. The island's charm and the limited space have made it a highly sought-after location for property buyers. This has resulted in a competitive market where prices continue to climb.
For those considering purchasing property in Jeju, it's important to understand the dynamics of this market. The combination of high demand and limited supply has created a situation where property values are expected to remain strong. This makes Jeju Island an attractive option for both investors and those looking for a new place to call home.
Sources: Source 1, Source 2, Source 3
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.