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
Jeju Island's property market is unlike anywhere else in South Korea because demand splits between locals seeking year-round housing, families drawn to international schools, and investors chasing short-term rental income from millions of annual tourists.
This guide gives you specific neighborhood names at the 읍/면/동 level, actual price ranges in Korean won, and yield estimates backed by official transaction data.
We constantly update this blog post to reflect the latest market shifts and new data releases.
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.
What's the Current Real Estate Market Situation by Area in Jeju Island?
Which areas in Jeju Island have the highest property prices per square meter in 2026?
As of early 2026, the three most expensive areas in Jeju Island are Yeon-dong and Nohyeong-dong in Jeju City, followed by Jungmun-dong in Seogwipo City, where proximity to jobs, the airport, and resort amenities drives premium pricing.
In these high-end Jeju Island neighborhoods, apartment prices typically range from 6.5 million to 9 million won per square meter, while detached houses can stretch even higher depending on lot size and ocean views.
What makes each of these expensive Jeju Island areas command such high prices comes down to very different factors:
- Yeon-dong and Nohyeong-dong: Jeju's deepest job market and best airport access create steady local demand.
- Jungmun-dong: Resort adjacency and strong short-term rental tourism support premium pricing year-round.
- Daejeong-eup near Global Education City: International school families pay more for family-sized units close to campuses.
- Haean-dong and Ora-dong: Quiet neighborhoods near Jeju City core attract buyers wanting space without long commutes.
Which areas in Jeju Island have the most affordable property prices in 2026?
As of early 2026, the most affordable areas in Jeju Island include Hankyung-myeon on the far west coast, Namwon-eup in the southeast, Pyoseon-myeon along the southern shore, and inland villages in Gujwa-eup away from the beaches.
In these budget-friendly Jeju Island neighborhoods, property prices typically range from 2.5 million to 4.5 million won per square meter, which is roughly half what you would pay in Jeju City's core.
The main trade-off in these lower-priced Jeju Island areas is that you often sacrifice convenience and liquidity: Hankyung-myeon has very few apartments and limited services, Namwon-eup sits far from both city centers, Pyoseon-myeon requires careful micro-location analysis to avoid isolation, and inland Gujwa-eup villages lack the tourist foot traffic that supports coastal property values.
You can also read our latest analysis regarding housing prices in Jeju Island.
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Which Areas in Jeju Island Offer the Best Rental Yields?
Which neighborhoods in Jeju Island have the highest gross rental yields in 2026?
As of early 2026, the Jeju Island neighborhoods with the highest gross rental yields include Ido-dong and Ara-dong in Jeju City at around 4.5% to 6%, Samdo-dong pockets near central services at 4.5% to 6.5%, and Donghong-dong in Seogwipo City at 4% to 5.8%.
Across Jeju Island as a whole, typical gross rental yields for long-term investment properties range from about 3.5% to 5.5%, which means these top-performing neighborhoods beat the island average by a meaningful margin.
Each of these high-yield Jeju Island neighborhoods delivers stronger returns for specific reasons:
- Ido-dong and Ara-dong: Lower purchase prices than Yeon-dong but similar rent levels from local workers and students.
- Samdo-dong: Older building stock means cheaper entry prices while central location keeps rents stable.
- Donghong-dong and Seohong-dong: Seogwipo's daily-life core with schools and offices, less tourism volatility than Jungmun.
- Daejeong-eup near GEC: Family tenants sign longer leases, reducing vacancy during school years.
Finally, please note that we cover the rental yields in Jeju Island here.
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Which Areas in Jeju Island Are Best for Short-Term Vacation Rentals?
Which neighborhoods in Jeju Island perform best on Airbnb in 2026?
As of early 2026, the top-performing Airbnb neighborhoods in Jeju Island are Hamdeok in Jocheon-eup, Hyeopjae and Geumneung beaches in Hallim-eup, the coastal cafe belt in Aewol-eup, and Seongsan-eup near the famous sunrise peak.
In these popular Jeju Island short-term rental areas, well-managed properties can generate monthly revenues ranging from roughly 2 million to 5 million won, though this varies heavily by season and property quality.
What drives short-term rental success in each of these Jeju Island neighborhoods comes down to distinct tourist draws:
- Hamdeok in Jocheon-eup: Jeju's most popular beach with clear water draws weekend crowds from Seoul year-round.
- Hyeopjae and Geumneung in Hallim-eup: White sand beaches and sunset views make this the island's western tourism magnet.
- Aewol-eup coastal strip: Instagram-famous cafes and ocean-view restaurants create strong vacation rental demand.
- Seongsan-eup: UNESCO-listed Seongsan Ilchulbong brings steady tourist traffic seeking nearby accommodation.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Jeju Island.
Which tourist areas in Jeju Island are becoming oversaturated with short-term rentals?
The three Jeju Island tourist areas most at risk of short-term rental oversaturation are the Aewol-eup coastal strip, beach villages in Gujwa-eup, and the core tourist zone in Seongsan-eup where copycat supply has grown rapidly.
In these oversaturated Jeju Island areas, the island-wide average occupancy of around 45% means that many similar "ocean-view stay" properties compete fiercely for the same pool of guests, especially during shoulder seasons.
The clearest sign of oversaturation in these Jeju Island neighborhoods is aggressive discounting during off-peak months, when property owners slash nightly rates to fill empty calendars while peak-season pricing can no longer compensate for winter vacancy.
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Which Areas in Jeju Island Are Best for Long-Term Rentals?
Which neighborhoods in Jeju Island have the strongest demand for long-term tenants?
The Jeju Island neighborhoods with the strongest long-term rental demand are Yeon-dong and Nohyeong-dong in Jeju City, Ido-dong and Ara-dong slightly further from the core, Donghong-dong and Seohong-dong in Seogwipo City, and Daejeong-eup near the Global Education City.
In these high-demand Jeju Island rental markets, well-priced apartments typically find tenants within two to four weeks, while less desirable units or overpriced listings can sit vacant for months.
The tenant profiles driving demand in each of these Jeju Island neighborhoods differ significantly:
- Yeon-dong and Nohyeong-dong: Young professionals and service workers near Jeju's main employment hub.
- Ido-dong and Ara-dong: Budget-conscious local families and students seeking good value near city center.
- Donghong-dong and Seohong-dong: Seogwipo office workers and families who prefer a quieter pace than Jeju City.
- Daejeong-eup near GEC: International school families who sign multi-year leases tied to school calendars.
What makes these Jeju Island neighborhoods especially attractive to long-term tenants is reliable access to daily necessities: hospitals, grocery stores, schools, and public transportation that locals depend on through Jeju's windy winters when tourism slows down.
Finally, please note that we provide a very granular rental analysis in our property pack about Jeju Island.
What are the average long-term monthly rents by neighborhood in Jeju Island in 2026?
As of early 2026, average long-term monthly rents in Jeju Island vary widely by neighborhood, with Yeon-dong and Nohyeong-dong commanding the highest rents while areas like Ido-dong and Ara-dong offer more moderate pricing for similar apartment sizes.
In the most affordable Jeju Island neighborhoods for long-term rentals, a 59-square-meter apartment typically rents for around 5 to 15 million won deposit plus 650,000 to 950,000 won per month.
In mid-range Jeju Island neighborhoods like Donghong-dong and Seohong-dong in Seogwipo, an 84-square-meter apartment usually requires 20 to 45 million won deposit plus 1 to 1.6 million won per month.
In the most expensive Jeju Island neighborhoods like Yeon-dong or Daejeong-eup near the international schools, family-sized apartments of 84 square meters can require 30 to 70 million won deposit plus 1.25 to 2.3 million won per month.
You may want to check our latest analysis about the rents in Jeju Island here.
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Which Are the Up-and-Coming Areas to Invest in Jeju Island?
Which neighborhoods in Jeju Island are gentrifying and attracting new investors in 2026?
As of early 2026, the Jeju Island neighborhoods attracting the most investor attention include Aewol-eup's coastal lifestyle corridor, the Hamdeok beach area in Jocheon-eup, Hyeopjae and Geumneung in Hallim-eup, and Seogwipo City's core neighborhoods like Donghong-dong.
These gentrifying Jeju Island areas have seen annual price appreciation of roughly 3% to 7% in recent years, though gains vary significantly by exact location and property type within each neighborhood.
Which areas in Jeju Island have major infrastructure projects planned that will boost prices?
The Jeju Island area with the most significant infrastructure-driven price potential is Seongsan-eup in Seogwipo City, where the long-planned Jeju Second Airport project has been confirmed after years of delays and local opposition.
In Seongsan-eup, the new airport project is expected to transform the area's accessibility and create new housing demand, while Daejeong-eup continues to benefit from the ongoing expansion of the Jeju Global Education City ecosystem with its international schools.
Historically in Jeju Island, areas near completed infrastructure projects like the Global Education City have seen price increases of 15% to 30% in the years following project completion, though timing and policy risks make such gains uncertain.
You'll find our latest property market analysis about Jeju Island here.
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.
Which Areas in Jeju Island Should I Avoid as a Property Investor?
Which neighborhoods in Jeju Island with lots of problems I should avoid and why?
The Jeju Island areas where foreign investors most often encounter problems include the over-developed short-term rental strips in Aewol-eup and Gujwa-eup, remote inland villages in Hankyung-myeon and Andeok-myeon, and isolated "ocean-view" detached houses far from any services.
Each of these problematic Jeju Island areas carries distinct risks:
- Aewol-eup and Gujwa-eup coastal STR zones: Revenue volatility from heavy competition and seasonal tourism drops.
- Remote inland Hankyung-myeon: Thin transaction volume means you can buy cheap but struggle to resell.
- Inland Andeok-myeon villages: Few services and opaque pricing make due diligence difficult for foreigners.
- Isolated ocean-view detached homes: Value depends on a narrow buyer pool that disappears when sentiment turns.
For these Jeju Island areas to become viable investments, they would need either sustained infrastructure improvements that bring year-round services, or regulatory clarity that reduces short-term rental competition and stabilizes income projections.
Buying a property in the wrong neighborhood is one of the mistakes we cover in our list of risks and pitfalls people face when buying property in Jeju Island.
Which areas in Jeju Island have stagnant or declining property prices as of 2026?
As of early 2026, the Jeju Island areas most likely experiencing stagnant or declining property prices include undifferentiated resort-style developments in oversupplied coastal zones, plus low-amenity inland areas where population and tenant demand show no growth.
These stagnant Jeju Island markets have seen price growth of roughly 0% to 2% annually over recent years, significantly underperforming the Jeju City core which has maintained steadier appreciation.
The underlying causes of price stagnation differ by Jeju Island area:
- Copycat resort developments: Too much similar inventory chasing the same seasonal tourist demand.
- Remote inland villages: No job growth or new amenities to attract year-round residents.
- Older second-home stock: Outdated buildings with high maintenance costs in areas lacking renovation demand.
Get the full checklist for your due diligence in Jeju Island
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
Which Areas in Jeju Island Have the Best Long-Term Appreciation Potential?
Which areas in Jeju Island have historically appreciated the most recently?
The Jeju Island areas that have historically appreciated the most over the past five to ten years include Yeon-dong and Nohyeong-dong in Jeju City, Daejeong-eup near the Global Education City, and select pockets of Jungmun-dong in Seogwipo's resort zone.
Here is how appreciation has differed across these top-performing Jeju Island areas:
- Yeon-dong and Nohyeong-dong: Steady 4% to 6% annual gains driven by Jeju's deepest local employment base.
- Daejeong-eup near GEC: 5% to 8% annual appreciation fueled by international school family demand.
- Prime Jungmun-dong: More cyclical but 3% to 7% gains in premium resort-adjacent positions.
The main driver of above-average appreciation in these Jeju Island areas is that they all benefit from non-tourism demand sources: local jobs in Jeju City, education anchors in Daejeong-eup, and resort infrastructure in Jungmun-dong that creates year-round activity beyond seasonal visitors.
By the way, you will find much more detailed trends and forecasts in our pack covering there is to know about buying a property in Jeju Island.
Which neighborhoods in Jeju Island are expected to see price growth in coming years?
The Jeju Island neighborhoods expected to see the strongest price growth in coming years include Seongsan-eup due to the second airport project, Daejeong-eup with its stable education-driven demand, and select Jeju City edge neighborhoods like Haean-dong and Ora-dong.
Projected annual price growth varies by neighborhood based on different catalysts:
- Seongsan-eup: Potential for 5% to 10% annual gains if airport construction proceeds, but high policy risk.
- Daejeong-eup near GEC: More predictable 3% to 5% growth backed by consistent family housing demand.
- Haean-dong and Ora-dong: 3% to 6% potential as Jeju City core prices push buyers to nearby alternatives.
The single most important catalyst for future Jeju Island price growth in these areas is documented infrastructure investment, whether airport construction in Seongsan-eup or continued Global Education City expansion in Daejeong-eup, rather than speculative tourism trends.
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 Do Locals and Expats Really Think About Different Areas in Jeju Island?
Which areas in Jeju Island do local residents consider the most desirable to live?
The Jeju Island areas that local residents consider most desirable to live are Yeon-dong and Nohyeong-dong for maximum convenience, Ido-dong for good value near the city center, and Donghong-dong and Seohong-dong for those who prefer Seogwipo's quieter pace.
What makes each of these Jeju Island neighborhoods desirable to locals comes down to practical daily-life factors:
- Yeon-dong and Nohyeong-dong: Best hospital access, shopping, and job proximity on the island.
- Ido-dong: Central location with lower prices than premium Yeon-dong, good for families on a budget.
- Donghong-dong and Seohong-dong: Seogwipo's schools, offices, and medical facilities in one walkable area.
These locally-preferred Jeju Island neighborhoods tend to attract middle-class families, local business owners, and long-term residents who prioritize reliable services over scenic views or tourist amenities.
Local preferences in Jeju Island often differ from foreign investor targets, since locals prioritize winter livability and commute convenience while foreigners frequently overweight ocean views and vacation appeal.
Which neighborhoods in Jeju Island have the best reputation among expat communities?
The Jeju Island neighborhoods with the best reputation among expat communities are Daejeong-eup near the Global Education City and Jungmun-dong in Seogwipo's resort district, both of which offer English-speaking services and international amenities.
Why expats prefer these Jeju Island neighborhoods over others relates to specific community anchors:
- Daejeong-eup near GEC: Home to Branksome Hall Asia and KIS Jeju, creating a built-in international family community.
- Jungmun-dong: Resort infrastructure means English menus, international-standard hotels, and familiar service levels.
The expat profiles in these Jeju Island neighborhoods differ notably: Daejeong-eup attracts families with school-age children on multi-year assignments, while Jungmun-dong draws retirees, remote workers, and second-home owners seeking resort-style living.
Which areas in Jeju Island do locals say are overhyped by foreign buyers?
The Jeju Island areas that locals most commonly say are overhyped by foreign buyers include the Aewol-eup coastal cafe belt, trendy beach villages in Gujwa-eup, and isolated "ocean-view" detached homes scattered across the island's scenic but inconvenient coastlines.
Why locals believe these Jeju Island areas are overvalued comes down to practical experience:
- Aewol-eup coastal strip: Beautiful for a weekend visit but wind-battered and service-sparse in winter.
- Gujwa-eup beach villages: Prices reflect Instagram trendiness more than actual year-round livability.
- Isolated ocean-view homes: Stunning photos hide long drives to grocery stores, hospitals, and schools.
What foreign buyers typically see in these Jeju Island areas that locals do not value as highly is vacation appeal: ocean sunsets, cafe-hopping, and scenic drives matter more to visitors than to people who must navigate Jeju's rainy winters and limited public transportation daily.
By the way, we've written a blog article detailing the experience of buying a property as a foreigner in Jeju Island.
Which areas in Jeju Island are considered boring or undesirable by residents?
The Jeju Island areas that residents commonly consider boring or undesirable include remote parts of Hankyung-myeon on the far west, inland villages in Andeok-myeon and Namwon-eup, and some tourism-only strips that feel empty during off-season months.
Why residents find these Jeju Island areas boring or undesirable relates to daily-life limitations:
- Remote Hankyung-myeon: Too far from hospitals, schools, and shopping for practical family life.
- Inland Andeok-myeon and Namwon-eup: Agricultural character with few restaurants, cafes, or social venues.
- Off-season tourism strips: Businesses close in winter, leaving residents with shuttered streets and limited services.
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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 It's Authoritative | How We Used It |
|---|---|---|
| MOLIT RTMS Portal | Official government portal for reported real estate transaction prices in Korea. | We used it as our primary source for actual sale prices by neighborhood. We anchored all price ranges to real transactions rather than asking prices. |
| Korea Real Estate Board (KREB) | National market-monitoring body used by policymakers and banks. | We used it as the official backbone for Jeju-wide price and rent trend direction. We verified that our neighborhood estimates aligned with their survey framework. |
| Korea Open Data Portal (MOLIT Files) | Government open-data distribution for downloadable transaction records. | We used it to calculate medians and ranges at scale across Jeju neighborhoods. We processed both sales and lease records for yield calculations. |
| AirDNA | Widely used short-term rental data provider referenced by industry research. | We used it for comparable STR metrics like occupancy and average daily rates. We stress-tested their figures against official tourism volume data. |
| Jeju Tourism Organization Data | Official Jeju tourism body dataset published on the national open-data portal. | We used it to size the tourism base supporting short-term rentals. We separated tourism-driven zones from local-economy zones in our analysis. |
| JDC Global Education City | Official development center for Jeju's international education zone. | We used it to understand education-driven housing demand in Daejeong-eup. We verified school-related price premiums against their published information. |
| Invest Korea (Jeju) | Official investment-promotion channel republishing government-confirmed projects. | We used it to identify where infrastructure-driven price changes are real. We time-boxed "future upside" claims to confirmed national projects only. |
| Jeju Province Assessed Price Lookup | Official Jeju government system for assessed house price lookups. | We used it to sanity-check detached house values where transaction volume is thin. We spotted areas where assessed values diverge from market deals. |
| Easy Law (Government Legal Portal) | Government-run legal explainer that cites underlying Acts and Decrees. | We used it to confirm foreign buyer reporting obligations and timelines. We cross-checked against municipal "how-to" pages for accuracy. |
| Reuters | Top-tier wire service for time-sensitive macro facts used by investors. | We used it to anchor financing sensitivity to Bank of Korea rate levels. We kept yield assumptions consistent with the early 2026 interest-rate environment. |
Get the full checklist for your due diligence in Jeju Island
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.
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