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
Where are the best places to invest in Jeju Island right now? Is Seogwipo still the top pick, or are areas like Aewol, Hallim, and Jeju City gaining ground? What makes these locations attractive to both local and foreign investors?
We’re often asked these questions because we work directly with local real estate agents, developers, and clients who invest across the island. Our firsthand experience in these markets gives us unique insights into where the real opportunities lie. To save everyone from asking privately, we’ve written this article to share our knowledge broadly.
Our goal is to highlight the hottest markets in Jeju Island and explain why they’re worth your attention in 2025.
If you have suggestions or want us to dive deeper into a specific area, let us know. You shoot an email, we answer within 24 hours.
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1) Seogwipo's Jungmun-dong is booming with luxury resorts and rising demand for vacation rentals
Jungmun-dong in Seogwipo is a hot property market because of its luxury resorts and booming vacation rental demand.
Property prices in the area are on the rise, with experts predicting a 3% to 7% increase by 2025. This is largely due to the development of high-end resorts and the growing interest from international tourists. The area is becoming a magnet for those seeking luxury and relaxation, making it a prime spot for investment.
Occupancy rates in luxury resorts have skyrocketed, jumping from 30% in 2020 to 80% in 2023. This surge is fueled by the return of foreign tourists, particularly from China, and the strong demand from affluent travelers. As a result, hoteliers have been able to increase room rates, further boosting the area's appeal.
Vacation rentals are also seeing a boom, with more listings popping up on platforms like Airbnb. This reflects the rising demand for short-term stays, as more tourists flock to Jeju Island. The island's popularity is growing, thanks to the global travel and tourism sector's recovery, making it a hotspot for visitors.
Jungmun-dong's allure is not just about luxury; it's about the experience. The combination of stunning natural beauty and top-notch amenities makes it a desirable destination for both tourists and investors. The area's unique charm and strategic location are key factors driving its real estate market.
For those considering a property purchase, Jungmun-dong offers a promising opportunity. With its thriving tourism industry and increasing property values, it's a place where investment potential meets lifestyle appeal.
Sources: News Market, KED Global, KOTRA
2) Hwasun-ri in Andeok-myeon is gaining attention for its scenic beauty and new eco-friendly accommodations
Hwasun-ri in Andeok-myeon is catching eyes for its stunning landscapes and eco-friendly developments.
Jeju Island's tourism is booming, with a 74% jump in foreign visitors in early 2024, naturally drawing attention to charming spots like Hwasun-ri. The local government is pushing for sustainable tourism, which is a big deal here. They're installing geothermal systems in luxury hotels, setting a trend for eco-friendly stays that travelers love. In fact, a 2022 survey showed 78% of travelers want eco-friendly options.
Hwasun-ri's natural beauty is getting a lot of buzz on social media, making it even more appealing. This kind of exposure not only attracts tourists but also investors, eager to tap into the area's potential. The picturesque setting and commitment to sustainability are really what make Hwasun-ri stand out.
Sources: Skift, Weekapaug Inn, Statista
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.
3) Udo-myeon is gaining interest for its island charm and the trend of converting properties into guesthouses
Udo-myeon is buzzing with interest thanks to its unique island charm and the trend of turning properties into guesthouses.
Property prices are climbing, a clear sign that demand is on the rise, largely fueled by tourism. Investors are eyeing this area as a promising tourist hotspot.
More and more properties are being transformed into guesthouses, which shows the market's potential for tourism-related businesses. This makes Udo-myeon an appealing choice for those looking to invest.
Udo Island, part of Udo-myeon, has drawn in millions of visitors over the years, highlighting the island's allure. People are captivated by its scenic beaches and rocky cliffs, which offer a unique island experience.
Surveys reveal that visitors are particularly fond of the distinctive island experiences that Udo-myeon provides. This preference is a key driver behind the area's growing popularity.
Sources: Wikipedia, HelloSihui, Inside Jeju
4) Namwon-eup is attracting interest with its scenic landscapes and growing cultural and recreational facilities
Namwon-eup is gaining popularity for its stunning landscapes and expanding cultural and recreational facilities.
Jeju Island's recent boom in recreational facilities, like parks and sports complexes, is a big draw. This expansion is fueling a surge in outdoor activities and leisure tourism, making Namwon-eup a hotspot for visitors looking for a mix of nature and fun.
Jeju Island hosts vibrant cultural festivals, such as the Jeju Olle Walking Festival and the Cherry Blossom Festival. These events attract crowds and add to the area's charm, making Namwon-eup even more appealing with its rich cultural offerings.
The government's push for sustainability, highlighted by projects like the Zero Plastic Initiative, is transforming Jeju Island. This commitment not only boosts tourism but also enhances the quality of life, making Namwon-eup a desirable place to live or visit.
Local businesses in hospitality and leisure are thriving, reflecting a robust economy. This growth is driven by the island's natural beauty and cultural attractions, with Namwon-eup likely benefiting from this economic upswing.
Sources: World Bank Group
5) Andeok-myeon is gaining interest for its blend of traditional homes and new developments, offering unique investment opportunities
Andeok-myeon is catching the eye of property buyers with its charming blend of traditional homes and modern developments.
On Jeju Island, this area offers a unique investment opportunity. In recent years, property values in coastal areas like Jeju have seen a steady rise, with an average increase of about 5% in 2023 and 2024. Looking ahead, experts predict further growth, potentially between 3% to 7% in 2025.
Exciting construction projects are underway, including the ambitious Finx Biotopia, which involves a massive investment of 200 billion won. These developments are part of a broader government strategy to invigorate the local economy and draw in more residents and investors.
Andeok-myeon's proximity to major tourist attractions and the availability of new office and residential spaces have sparked interest from both domestic and international investors. Surveys indicate that buyers are increasingly drawn to areas that offer a mix of natural beauty and modern conveniences.
With its unique combination of heritage and contemporary living, Andeok-myeon fits this preference perfectly. The government's plans for infrastructure improvements, such as creating a 15-minute city in Jeju, could further boost Andeok-myeon's attractiveness.
As these developments unfold, Andeok-myeon is poised to become a sought-after destination for those looking to invest in a vibrant and evolving community.
Source: MK News
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6) Hankyung-myeon is gaining interest for its agritourism potential, boosting property investments
Hankyung-myeon is becoming a hotspot for property investors due to its growing potential in agritourism.
With the global agritourism market on the rise, areas like Hankyung-myeon are seeing a surge in agritourism businesses that attract both visitors and investors. This trend is not just a local phenomenon; it's part of a larger movement towards sustainable travel and rural experiences.
Government incentives are making Hankyung-myeon even more appealing. While the USDA has supported rural development in the U.S., similar initiatives could be underway in Jeju Island, boosting agritourism in Hankyung-myeon. These incentives are a big draw for investors eyeing the tourism sector.
The economic benefits of agritourism are clear. It not only increases farmers' incomes but also promotes rural development. Investors who have profited from agritourism elsewhere are now looking at Hankyung-myeon as a promising opportunity.
As agritourism flourishes, property values in Hankyung-myeon are likely to rise, making it an attractive investment. This is a win-win for both the local economy and those investing in the area.
For those considering property investment, Hankyung-myeon offers a unique chance to be part of a thriving agritourism scene that supports sustainable travel and rural experiences.
Sources: Grand View Research, Globe Newswire, Peek Pro
7) Jocheon-eup is gaining interest for its closeness to Jeju City and new infrastructure projects
Jocheon-eup is quickly becoming a hot spot thanks to its closeness to Jeju City and exciting new infrastructure projects.
With the government's big plans to turn Jeju Island into a global resort city, projects like Jeju New Port and urban air mobility are on the horizon. These developments are set to make Jocheon-eup even more connected and appealing, drawing in tourists and boosting logistics.
Getting around Jeju Island is getting easier with frequent inter-city buses and the Airport Limousine, which indirectly make Jocheon-eup more accessible. This ease of access is a magnet for new residents and businesses, making the area more vibrant and lively.
The local government is also stepping up with urban development plans that promise to improve infrastructure and amenities. These enhancements are expected to make Jocheon-eup even more attractive, adding to its growing charm.
Demographic studies show that Jocheon-eup's population is steadily increasing, a clear sign that more people are interested in the area. This growth is part of a larger strategy to promote Jeju Island as a world-class city of culture and tourism.
As Jeju Island continues to develop, Jocheon-eup is poised to benefit from these changes, making it a prime spot for potential property buyers looking for a mix of convenience and opportunity.
Sources: Government Strategy for Jeju Island Development, Jeju Bus Routes, Housing Market Forecast
8) Hallim-eup is gaining interest for its affordable land and high rental yields from tourists
Hallim-eup is quickly becoming a favorite spot for property investors.
One of the main draws is that land prices in Hallim-eup are more affordable compared to other areas on Jeju Island. While places like Seogwipo and Jeju City have seen significant price hikes, Hallim-eup remains a budget-friendly choice. This affordability is a big plus for those looking to invest without breaking the bank.
Tourism is another factor driving interest in Hallim-eup. The area is home to Hallim Park, which is famous for its stunning gardens and intriguing caves like Hyeopjaegul and Ssangyonggul. The steady stream of tourists visiting these attractions means there's a strong demand for rental accommodations, offering a lucrative opportunity for property owners.
With the rise of platforms like Airbnb, renting out properties to tourists has never been easier. Hallim-eup's growing popularity as a tourist destination allows investors to capitalize on this trend. High rental yields are a real possibility here, thanks to the constant influx of visitors looking for places to stay.
Investors are particularly drawn to the combination of affordable land prices and the potential for high rental income. This makes Hallim-eup an attractive option for those looking to maximize their returns. The area's charm and accessibility only add to its appeal.
For anyone considering a property investment in Jeju, Hallim-eup offers a compelling mix of affordability and opportunity. The potential for profit is significant, especially with the area's increasing tourist numbers and the ease of renting out properties.
Sources: Core Jeju, Grand View Research
We have made this infographic to give you a quick and clear snapshot of the property market in South Korea. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
9) Pyoseon-myeon is gaining interest for its beautiful beaches and increasing boutique hotel presence
Pyoseon-myeon is quickly becoming a hot spot for real estate investment.
One major reason is the rise in boutique hotels popping up in the area. Take Caseroji, for example, a charming hotel in Gasi-ri, Pyoseon-myeon, which was the first in South Korea to snag a five-star rating. This shows how boutique accommodations are gaining traction, making the local real estate market more appealing.
South Korea's push to boost regional tourism is another factor. Projects like the “Southern Region Mega-Tourism Development” are in full swing, hinting at a surge in visitors to places like Pyoseon-myeon. More tourists often mean a higher demand for property, which could be a golden opportunity for buyers.
Jeju Island, where Pyoseon-myeon is located, is catching the eye of both local and international buyers. This growing interest is likely to drive up property prices in Pyoseon-myeon, making it a promising market for real estate enthusiasts.
With its stunning beaches and the increasing number of boutique hotels, Pyoseon-myeon is on the rise. The area is becoming a magnet for those looking to invest in a place that offers both natural beauty and modern amenities.
As more people discover the charm of Pyoseon-myeon, the real estate market is expected to continue its upward trend, offering potential buyers a chance to be part of this exciting growth.
Sources: MK Business, Travel and Tour World, MCST
10) Aewol-eup is attracting interest with its scenic coastal views and rising property values near Jeju City
Aewol-eup is catching eyes for its rising property values, and it's easy to see why.
Imagine waking up to breathtaking coastal views every day. That's what Aewol-eup offers, making it a magnet for tourists and property seekers alike. People are drawn to its picturesque setting, which promises a serene living environment.
But it's not just about the views. Aewol-eup is conveniently close to Jeju City, offering the best of both worlds: peaceful coastal living with easy access to urban amenities. This perfect blend of nature and convenience is a big reason why more people are looking to buy here.
In recent years, from 2023 to 2024, there's been a noticeable uptick in interest from both local and international buyers. This surge in demand is pushing property values higher, making Aewol-eup a hot spot in the real estate market.
Adding to its appeal, Aewol-eup is seeing new infrastructure and amenities pop up. Think new schools and parks, which are boosting the quality of life and making the area even more attractive to families and investors.
With these developments, Aewol-eup is clearly on a growth trajectory, suggesting that property values will continue to climb as more people discover its charm.
Sources: Yonhap News Agency, Korea JoongAng Daily
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.