Authored by the expert who managed and guided the team behind the South Korea Property Pack
Yes, the analysis of Seoul's property market is included in our pack
If you're a foreigner thinking about buying a property in Seoul to rent it out, the rules changed significantly in August 2025, and you need to understand the new approval regime before making any move.
This guide covers everything from legality and rental yields to neighborhood performance and short-term rental regulations, all updated for early 2026.
We constantly update this blog post as the Seoul rental market evolves and new data becomes available.
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 Seoul.
Insights
- Seoul's August 2025 foreigner land-transaction approval regime now covers all 25 districts (gu), making pure investment purchases nearly impossible for non-residents who don't plan to live in the property.
- Gross rental yields in Seoul average just 2.3% to 3.6% in early 2026, with apartments yielding only 2% to 2.8% because purchase prices have reached around 60 million won per pyeong.
- The average Seoul apartment monthly rent hit 1.48 million won in late 2025, which is roughly $1,050 or €980, and rents are still climbing into 2026.
- Short-term rental listings without proper registration became unbookable on Airbnb starting January 1, 2026, making licensing the real bottleneck rather than demand.
- Seoul short-term rentals average about 63% occupancy and $84 per night according to AirDNA, but legal compliance determines whether you can actually operate.
- Outer districts like Guro-gu, Geumcheon-gu, and Gwanak-gu often deliver better yields because purchase prices are lower while rents remain decent near transit hubs.
- Tenant renewal rights in Seoul include a one-time renewal request with rent increases commonly capped at 5%, which limits how quickly landlords can reprice existing tenants.
- High-rise apartments in Seoul often carry monthly maintenance fees (gwanlibi) of 150,000 to 450,000 won, which significantly erodes net yields.
Can I legally rent out a property in Seoul as a foreigner right now?
Can a foreigner own-and-rent a residential property in Seoul in 2026?
As of early 2026, foreigners can legally own and rent out residential property in Seoul, but the critical issue is whether you can actually buy a property in the first place under the new approval regime.
The main ownership structure available to foreigners is direct freehold ownership, though since August 2025 all purchases in Seoul require government approval under the foreigner land-transaction permit framework.
The single biggest restriction is that MOLIT (Ministry of Land, Infrastructure and Transport) designated all 25 districts in Seoul as approval areas, and this approval system is designed to block speculative, non-resident purchases, which means you generally need to demonstrate actual residence plans rather than pure investment intent.
If you already own a Seoul property purchased before August 2025, you can generally operate it as a long-term rental, but new purchases for rental investment now face a significant feasibility hurdle.
If you're not a local, you might want to read our guide to foreign property ownership in Seoul.
Do I need residency to rent out in Seoul right now?
For long-term rentals in Seoul, remote ownership is technically workable if you legally own the property and comply with tax and lease regulations, though most foreign landlords use a local property manager to handle day-to-day operations.
Yes, you need a local tax identification number to legally collect rental income in Seoul, which you obtain through the National Tax Service (NTS) as either a resident or non-resident taxpayer.
While international transfers are technically permitted, having a Korean bank account is practically essential because tenants overwhelmingly prefer paying rent in won to a domestic account, and deposit/refund workflows assume Korean banking.
Managing a Seoul rental entirely remotely is feasible if you hire a reliable local property manager, but the August 2025 approval changes make "remote-only" increasingly difficult for new purchases since approval often requires residence plans.
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What rental strategy makes the most money in Seoul in 2026?
Is long-term renting more profitable than short-term in Seoul in 2026?
As of early 2026, long-term renting is usually the more reliable and bankable strategy in Seoul because short-term rentals face serious licensing and platform enforcement constraints that can make your listing unbookable.
A well-managed long-term rental in Seoul might generate 18 to 24 million won annually (around $12,800 to $17,000 or €11,900 to €15,800), while a compliant short-term rental could theoretically earn 25 to 35 million won ($17,800 to $24,900 or €16,500 to €23,100), but only if you secure the proper registration and actually maintain bookings.
Properties in tourist-heavy areas like Hongdae (Mapo-gu), Myeongdong (Jung-gu), or near Gyeongbokgung tend to favor short-term renting financially, but only when properly licensed and actively managed.
The key difference in Seoul is that short-term rental profitability depends more on legal compliance than on raw demand, since Airbnb began blocking unregistered listings from January 2026.
What's the average gross rental yield in Seoul in 2026?
As of early 2026, the average gross rental yield for residential properties in Seoul ranges from about 2.3% to 3.6%, with significant variation depending on property type and location.
The realistic low-to-high range spans from around 2% for expensive apartments in premium districts like Gangnam to about 4.5% for smaller officetels in more affordable areas.
Officetels and small studio units typically achieve the highest gross rental yields in Seoul, often reaching 3% to 4.5%, because their lower purchase prices relative to rent compress the yield calculation less than large apartments.
Large apartments in sought-after districts like Seocho or Songpa often yield only 2% to 2.8% because purchase prices have climbed to around 60 million won per pyeong while rents haven't kept pace proportionally.
By the way, we have much more granular data about rental yields in our property pack about Seoul.
What's the realistic net rental yield after costs in Seoul in 2026?
As of early 2026, the average net rental yield after all ongoing costs for residential properties in Seoul falls between approximately 1.4% and 2.6%.
The realistic range that most Seoul landlords actually experience spans from about 1% for high-maintenance premium apartments to around 3% for well-located officetels with lower running costs.
The three main cost categories that reduce gross to net yield in Seoul are building maintenance fees (gwanlibi) which can run 150,000 to 450,000 won monthly for high-rises, property management fees of 5% to 10% of rent for remote owners, and the repairs reserve needed for Korea's older housing stock where mold and insulation issues are common.
Because Seoul property prices are among the highest in Asia, even normal operating costs drag yields down significantly compared to other cities.
You might want to check our latest analysis about gross and net rental yields in Seoul.
What monthly rent can I get in Seoul in 2026?
As of early 2026, typical monthly rents in Seoul are approximately 700,000 to 1.3 million won ($500 to $925 or €465 to €860) for a studio, 1.1 to 2 million won ($780 to $1,420 or €725 to €1,320) for a 1-bedroom, and 1.8 to 3.5 million won ($1,280 to $2,490 or €1,190 to €2,310) for a 2-bedroom.
A decent studio in Seoul can realistically rent for 700,000 to 1 million won monthly ($500 to $710 or €465 to €660) in average neighborhoods, with lower rents in outer districts like Nowon-gu or Dobong-gu.
A typical 1-bedroom apartment in Seoul commands 1.2 to 1.8 million won per month ($850 to $1,280 or €790 to €1,190) in middle-tier areas like Mapo-gu or Seongdong-gu.
A standard 2-bedroom apartment in Seoul rents for 2 to 3 million won monthly ($1,420 to $2,130 or €1,320 to €1,980) in most neighborhoods, climbing higher in Gangnam, Seocho, or Yongsan districts.
If you want to know more about this topic, you can read our guide about rents and rental incomes in Seoul.
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.
What are the real numbers I should budget for renting out in Seoul in 2026?
What's the total "all-in" monthly cost to hold a rental in Seoul in 2026?
As of early 2026, the total all-in monthly cost to hold and maintain a typical rental property in Seoul ranges from about 220,000 to 550,000 won ($155 to $390 or €145 to €365) for a studio, 350,000 to 850,000 won ($250 to $605 or €230 to €560) for a 1-bedroom, and 500,000 to 1.2 million won ($355 to $855 or €330 to €795) for a 2-bedroom.
The realistic low-to-high monthly cost range covering most standard Seoul rental properties is 250,000 to 900,000 won ($180 to $640 or €165 to €595), depending on building age, size, and whether you use a property manager.
The single largest contributor to monthly holding costs in Seoul is typically the building maintenance fee (gwanlibi), which covers security, cleaning, elevator maintenance, and common area utilities, and can easily reach 300,000 to 450,000 won monthly for larger high-rise apartments.
Older buildings in Seoul often have lower gwanlibi but higher unexpected repair costs, so budgeting requires understanding your specific building's age and condition.
You want to go into more details? Check our list of property taxes and fees you have to pay when buying a property in Seoul.
What's the typical vacancy rate in Seoul in 2026?
As of early 2026, the typical vacancy rate for long-term rental properties in Seoul is approximately 4% to 12%, meaning landlords should expect the property to sit empty for roughly 0.5 to 1.5 months per year.
A Seoul landlord should realistically budget for about 2 to 6 weeks of vacancy annually because tenant turnover happens and even in a tight market, finding qualified tenants and completing contract paperwork takes time.
The main factor causing vacancy rates to vary across Seoul neighborhoods is proximity to subway stations and employment centers, with areas near Line 2 or major interchanges like Gongdeok or Wangsimni filling faster than distant residential zones.
The highest tenant turnover in Seoul typically occurs in February and March when university semesters begin and workers relocate after the Lunar New Year period, creating a seasonal spike in both move-outs and demand.
We have a whole part covering the best rental strategies in our pack about buying a property in Seoul.
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Where do rentals perform best in Seoul in 2026?
Which neighborhoods have the highest long-term demand in Seoul in 2026?
As of early 2026, the three Seoul neighborhoods with the highest overall long-term rental demand are Mapo-gu (especially Hongdae and Gongdeok), Seongdong-gu (particularly Seongsu-dong), and Gangnam-gu (Daechi-dong and Samseong areas), all benefiting from strong transit access and employment concentration.
For families seeking quality schools, the strongest long-term rental demand in Seoul is concentrated in Gangnam-gu's Daechi-dong, Seocho-gu's Banpo-dong, and Songpa-gu's Jamsil area, where prestigious hagwon (private academy) clusters drive parent demand.
Students in Seoul create the highest rental demand in Seodaemun-gu near Sinchon and Ewha University, Gwanak-gu around Seoul National University (Nakseongdae, Sillim), and Dongdaemun-gu's Hoegi area near the university cluster.
Expats and international professionals in Seoul gravitate toward Yongsan-gu's Itaewon and Hannam-dong for the international community vibe, and Seocho-gu's Seorae Village (Banpo) for French and other European expat families.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Seoul.
Which neighborhoods have the best yield in Seoul in 2026?
As of early 2026, the three Seoul neighborhoods with the best rental yields are Guro-gu and Geumcheon-gu (benefiting from G-Valley office corridors), Gwanak-gu (steady student demand near SNU), and parts of Nowon-gu near subway stations, all offering lower purchase prices while maintaining decent rents.
The estimated gross rental yield range in these top-yielding Seoul neighborhoods is approximately 3.5% to 4.5%, compared to the citywide average of 2.3% to 3.6%.
The main characteristic allowing these neighborhoods to achieve higher yields is that they sit outside the "Gangnam premium zone" where prices have skyrocketed, but still offer reliable tenant demand from office workers, students, and budget-conscious young professionals who prioritize subway access over prestige addresses.
Investors willing to buy in these areas can capture meaningfully better yields, but must be selective about building quality and exact proximity to transit.
We cover a lot of neighborhoods and provide a lot of updated data in our pack about real estate in Seoul.
Where do tenants pay the highest rents in Seoul in 2026?
As of early 2026, the three Seoul neighborhoods where tenants pay the highest rents are Gangnam-gu (particularly Apgujeong and Cheongdam), Seocho-gu (Banpo-dong and Seocho-dong), and Yongsan-gu (Hannam-dong and Itaewon), with premium 2-bedrooms easily exceeding 4 to 6 million won monthly ($2,850 to $4,270 or €2,640 to €3,960).
In these premium Seoul neighborhoods, a standard apartment rents for approximately 2.5 to 5 million won per month ($1,780 to $3,560 or €1,650 to €3,300) for a 1-bedroom, and 4 to 8 million won ($2,850 to $5,700 or €2,640 to €5,280) for a larger 2 or 3-bedroom unit.
These neighborhoods command the highest rents in Seoul because they combine prestige addresses with access to top schools (Gangnam/Seocho), proximity to major corporate headquarters and embassies (Yongsan), and a concentration of luxury retail and dining that attracts high-income households.
The typical tenant profile in these highest-rent Seoul neighborhoods includes corporate executives, dual-income professional couples, wealthy families prioritizing education access, and senior expats on corporate housing packages.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of South Korea. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
What do tenants actually want in Seoul in 2026?
What features increase rent the most in Seoul in 2026?
As of early 2026, the three property features that increase monthly rent the most in Seoul are proximity to a subway station (ideally 5 to 8 minutes walk to Line 2 or Line 9), a newer building with proper elevator and security systems, and good insulation with no mold issues, which is critical given Korea's humid summers.
The single most valuable feature, being within a short walk of a major subway interchange, can add a rent premium of roughly 10% to 20% compared to similar units further from transit in the same district.
One commonly overrated feature in Seoul is expensive kitchen upgrades or high-end appliances, which tenants appreciate but rarely pay significantly more for because eating out and food delivery are so prevalent that cooking infrastructure matters less than in Western markets.
One affordable upgrade that provides strong return on investment for Seoul landlords is installing quality bathroom ventilation and addressing any moisture or mold issues, which directly addresses a top tenant complaint and can be done for a few hundred thousand won.
Do furnished rentals rent faster in Seoul in 2026?
As of early 2026, furnished apartments in Seoul typically rent about 1 to 3 weeks faster than unfurnished units, especially for studios and 1-bedrooms targeting students, young professionals, and expats who prefer move-in-ready convenience.
Furnished apartments in Seoul generally command a rent premium of about 5% to 15% over comparable unfurnished units, though this premium is partially offset by higher wear-and-tear and furniture replacement costs over time.
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How regulated is long-term renting in Seoul right now?
Can I freely set rent prices in Seoul right now?
For a brand-new lease in Seoul, landlords have substantial freedom to set initial rent prices based on market conditions, with no government-imposed caps on what you can charge a new tenant.
However, when an existing tenant exercises their one-time renewal right under Korea's Housing Lease Protection Act, rent increases are commonly limited to around 5% above the previous contract amount, which restricts how aggressively landlords can reprice continuing tenancies.
What's the standard lease length in Seoul right now?
The standard lease length for residential rentals in Seoul is 2 years, with tenants having a one-time renewal request right that can effectively extend the tenancy to 4 years under the same landlord, subject to the renewal rent cap.
Korea's deposit system is unique: there's no simple "maximum months" cap because deposits vary dramatically based on whether you're doing pure monthly rent (wolse), mixed deposit-plus-rent (banjeonse), or large-deposit-no-rent (jeonse), with deposits ranging from a few months' rent to the equivalent of 50% to 80% of the property's value.
At the end of a tenancy in Seoul, the landlord must return the deposit (bojeonggeum) when the tenant vacates, though tenants can protect their priority claim by completing proper registration (jeonipse-gwon) during the lease.
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.
How does short-term renting really work in Seoul in 2026?
Is Airbnb legal in Seoul right now?
Airbnb-style short-term rentals are not blanket-legal for ordinary residential units in Seoul; they're only permitted when the property fits into allowed categories (such as registered lodging businesses or designated home-sharing arrangements) and has proper registration.
Yes, a license or permit is required: you typically need to register as a lodging business or qualify under home-sharing provisions, which involves paperwork with local district offices and meeting specific building and safety requirements.
There isn't a simple annual night limit like some European cities have, but the registration categories define what type of short-term hosting you can do, and operating outside these categories means you're technically running an illegal accommodation.
The most common consequence for operating an unlicensed short-term rental in Seoul is that your listing becomes unbookable on major platforms, since Airbnb began requiring compliance documentation and blocking unregistered properties from January 1, 2026.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Seoul.
What's the average short-term occupancy in Seoul in 2026?
As of early 2026, the average annual occupancy rate for short-term rentals in Seoul is approximately 60% to 65%, with AirDNA's market snapshot showing around 63% occupancy across Airbnb and similar platforms.
The realistic range most Seoul short-term rentals experience is 45% to 75% occupancy, depending heavily on location, listing quality, pricing strategy, and how well the property is marketed.
The highest occupancy months for Seoul short-term rentals are typically April to May (spring cherry blossom season) and September to November (autumn foliage and pleasant weather), when both domestic and international tourism peaks.
The lowest occupancy months are usually January to February (cold winter, post-holiday lull) and July to August (hot, humid summer when many Koreans travel domestically to beaches rather than staying in Seoul), though summer still sees some demand from international visitors.
Finally, please note that you can find much more granular data about this topic in our property pack about Seoul.
What's the average nightly rate in Seoul in 2026?
As of early 2026, the average nightly rate for short-term rentals in Seoul is approximately 110,000 to 120,000 won ($78 to $85 or €73 to €79), with AirDNA showing around $84 average daily rate.
The realistic range covering most Seoul short-term rental listings is 70,000 to 200,000 won per night ($50 to $142 or €46 to €132), with budget studios at the low end and well-located 2-bedrooms or designer apartments at the high end.
Peak season rates in Seoul (spring and autumn) typically run 20% to 40% higher than off-season, meaning a property averaging 100,000 won nightly might command 120,000 to 140,000 won ($85 to $100 or €79 to €93) during cherry blossom or foliage season.
Is short-term rental supply saturated in Seoul in 2026?
As of early 2026, short-term rental supply in Seoul is moderately saturated in popular tourist areas, but the bigger constraint is regulatory enforcement, which has removed many non-compliant listings from platforms and reduced effective supply.
The trend in active Seoul short-term rental listings has been declining or flat since the January 2026 enforcement deadline, as properties without proper registration have been blocked from booking platforms.
The most oversaturated Seoul neighborhoods for short-term rentals are Mapo-gu's Hongdae area, Jung-gu around Myeongdong, and Jongno-gu near Gyeongbokgung and Bukchon, where tourist concentration has historically attracted the most listings.
Neighborhoods that may still have room for compliant short-term rental supply include emerging areas like Seongdong-gu's Seongsu-dong, parts of Yeongdeungpo-gu near Yeouido, and Yongsan-gu outside the immediate Itaewon core, where tourist interest is growing but listing density remains lower.
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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 Seoul, 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 |
|---|---|---|
| Korea Law Translation Center (KLRI) | Official English translation portal for Korean statutes. | We used it to define the legal reporting and permission framework for foreigners buying property. We also anchored what "permit areas" legally mean in Seoul. |
| Kim & Chang | Korea's largest top-tier law firm citing official MOLIT notifications. | We used it to pin down the post-August 2025 rule change for Seoul's approval requirement. We cross-checked it against KLRI statute structure and major news reporting. |
| National Tax Service (NTS) | Official tax authority for Korea. | We used it to frame what foreign owners must do for rental-income compliance. We kept tax details high-level but legally anchored. |
| Korea Real Estate Board (REB) | Korea's official real-estate market statistics institution. | We used it as the anchor for rental and price-trend references. We triangulated its figures via reputable newspapers when exact tables weren't available in English. |
| Chosunbiz | Major national business outlet clearly attributing data to REB. | We used it for the concrete average wolse reference point of 1.48 million won. We treated it as REB-attributed rather than standalone media data. |
| Seoul Economic Daily | Major financial newspaper explicitly citing KB Real Estate data. | We used it to anchor sale-price levels needed for yield estimates. We cross-checked with other sources to avoid relying on a single dataset. |
| AirDNA | Widely used STR analytics provider with transparent metrics. | We used it to estimate occupancy and nightly rates for short-term rental comparisons. We treated it as private-sector data and validated legality separately. |
| Airbnb Newsroom | Airbnb's official policy channel for compliance information. | We used it to explain why unlicensed listings are being removed. We cross-checked this with Korean media reporting on enforcement timelines. |
| Korea JoongAng Daily | Major national newspaper with specific enforcement timing details. | We used it to connect regulation to real operational constraints. We still treated the law as coming from statutes and the platform effect from this source. |
| Statistics Korea (KOSIS) | Official national statistics portal for Korea. | We used it to justify macro-level housing and population context. We treated it as the baseline official statistics layer for demand drivers. |
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.
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