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
Seoul's housing market remains one of the most dynamic in Asia, with prices that reflect both strong demand and limited supply in a densely populated capital.
In this article, we break down current housing prices in Seoul, neighborhood by neighborhood, so you can understand what to expect whether you're buying your first apartment or investing in a prime district.
We constantly update this blog post to reflect the latest available data on Seoul property prices.
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 apartment prices average around 1.57 billion won ($1.08 million) in 2026, but the median sits about 14% lower at 1.35 billion won because luxury districts pull the average up.
- Gangnam, Seocho, and Yongsan command price premiums of 2 to 3 times the citywide average per square meter, driven by top school districts and limited new construction.
- Buyers in Seoul typically pay 5% to 9% on top of the purchase price for acquisition taxes, brokerage fees, and registration costs.
- New apartments in Seoul sell for about 12% more than comparable older units, reflecting strong demand for modern layouts and lower maintenance buildings.
- The gap between listing prices and final sale prices in Seoul averages around 5%, with negotiation room ranging from 3% to 8% depending on the neighborhood.
- Entry-level apartments in outer districts like Nowon or Dobong start around 600 to 800 million won ($410,000 to $550,000), making them the most accessible option for first-time buyers.
- Over the past decade, Seoul apartment prices have risen about 65% in nominal terms, but only 35% to 40% after adjusting for inflation.
- Apartments dominate Seoul's housing market at roughly 75% of listings, with villas and officetels making up most of the remainder.
- Price per square meter in Seoul ranges from 9 million won in budget districts to over 45 million won in ultra-prime Gangnam addresses.
What is the average housing price in Seoul in 2026?
The median housing price is more useful than the average because it shows what a typical buyer actually pays, without being skewed upward by a handful of ultra-expensive luxury deals in prime districts like Gangnam.
We are writing this as of the first half of 2026, using the latest transaction data from late 2025 collected from official Seoul government sources, which we manually verified for accuracy.
The median housing price in Seoul in 2026 is approximately 1.35 billion won ($930,000 or €790,000), while the average housing price sits higher at around 1.57 billion won ($1.08 million or €920,000). This gap exists because expensive transactions in prime districts push the average above what most buyers encounter.
About 80% of Seoul apartments sell within a range of 800 million won to 2.2 billion won ($550,000 to $1.52 million or €470,000 to €1.29 million) in 2026.
A realistic entry range for Seoul apartments in 2026 is 600 to 800 million won ($410,000 to $550,000 or €350,000 to €470,000), which typically gets you an older 45 to 55 square meter apartment in outer districts like Nowon, Dobong, or Gangbuk.
Luxury apartments in Seoul in 2026 typically range from 3.5 billion to 10 billion won ($2.4 million to $6.9 million or €2 million to €5.9 million), and this budget can buy you a newer 120 to 170 square meter apartment in prestigious neighborhoods like Hannam-dong in Yongsan, Apgujeong in Gangnam, or Banpo in Seocho.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Seoul.
Are Seoul property listing prices close to the actual sale price in 2026?
In Seoul's housing market in 2026, closed sale prices typically come in about 5% below the original listing price, with most deals settling within a negotiation band of 3% to 8%.
This gap exists because sellers tend to list slightly high to test market interest, then adjust based on actual buyer demand and financing constraints. The discount varies most in neighborhoods outside the ultra-prime districts, where mortgage limits and approval timelines give buyers more negotiating leverage.
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What is the price per sq m or per sq ft for properties in Seoul in 2026?
As of early 2026, the median price per square meter for Seoul apartments is approximately 16 million won ($11,000 or €9,400), while the average sits higher at around 18 million won ($12,400 or €10,600) per square meter. Converted to square feet, this works out to a median of about 1.49 million won ($1,025 or €875) per square foot and an average of 1.67 million won ($1,150 or €985) per square foot.
Prime apartments in Gangnam, Seocho, and Yongsan command the highest prices per square meter in Seoul in 2026 because of top school zones, prestige, and severe supply constraints, while older stock in outer districts like Nowon and Dobong offers the lowest rates.
In Seoul in 2026, the highest price per square meter is found in Gangnam and Seocho, ranging from 25 million to 45 million won ($17,000 to $31,000) per square meter. The lowest prices per square meter are in Nowon, Dobong, and Gangbuk, typically ranging from 9 million to 13 million won ($6,200 to $9,000) per square meter.
How have property prices evolved in Seoul?
Compared to one year ago, Seoul apartment prices in 2026 are up about 3% in nominal terms, but essentially flat after adjusting for inflation. This modest growth reflects tighter mortgage rules in affluent districts and a concentration of transactions in prime neighborhoods that lifted the citywide average.
Looking back ten years, Seoul apartment prices have risen roughly 65% in nominal terms, or about 35% to 40% after adjusting for inflation. This long-term growth comes from persistent supply constraints in high-demand areas combined with households concentrating their wealth into the best locations with top schools and transportation.
By the way, we've written a blog article detailing the latest updates on property price variations in Seoul.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market 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 types of homes are available in Seoul and how do prices compare in 2026?
Seoul's housing market in 2026 is dominated by apartments at about 75% of listings, followed by villas and multi-family buildings at 15%, officetels at 5%, detached houses at 3%, and rowhouses at 2%, because high-rise apartment complexes have become the standard form of urban housing in South Korea's capital.
Average prices by property type in Seoul as of the first half of 2026 vary significantly: apartments average around 1.57 billion won ($1.08 million or €920,000), villas about 750 million won ($520,000 or €440,000), officetels around 550 million won ($380,000 or €320,000), detached houses approximately 2.4 billion won ($1.66 million or €1.41 million), and rowhouses about 1.1 billion won ($760,000 or €650,000). Luxury branded apartments and penthouses in prime districts average around 5.5 billion won ($3.8 million or €3.2 million).
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Seoul in 2026?
New apartments in Seoul in 2026 sell for approximately 12% more than comparable older units in the same neighborhood.
This premium exists because new buildings offer lower maintenance costs, better layouts, modern parking facilities, and developer brand value, combined with the fact that truly new supply is scarce in Seoul's most sought-after districts.
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How do property prices vary by neighborhood in Seoul in 2026?
Yongsan, particularly the Itaewon and Hannam areas, attracts many expats and offers higher-end apartments with international amenities and central access. Prices in Yongsan in January 2026 range from about 2.2 billion to 6.5 billion won ($1.5 million to $4.5 million), reflecting the neighborhood's luxury positioning and limited supply of quality units.
Mapo, including popular areas like Hongdae and Gongdeok, offers smaller apartments in lively neighborhoods with excellent transit connections to business districts. Apartment prices in Mapo in 2026 typically range from 1.2 billion to 2.8 billion won ($830,000 to $1.9 million), making it more accessible than prime districts while still offering an urban lifestyle.
Gangnam remains Seoul's most expensive district, driven by elite school zones, major corporations, and prestige. Apartments in Gangnam in January 2026 range from 2.8 billion to 8 billion won ($1.9 million to $5.5 million), with the highest concentrations of wealth and demand in the city.
You will find a much more detailed analysis by areas in our property pack about Seoul. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Character | Avg Price Range | Avg per sqm | Avg per sqft |
|---|---|---|---|---|
| Gangnam | Ultra-prime, schools | ₩2.8B-₩8B ($1.9M-$5.5M) | ₩30M-₩45M ($20.7k-$31k) | ₩2.8M-₩4.2M ($1.9k-$2.9k) |
| Seocho | Family, ultra-prime | ₩2.6B-₩7B ($1.8M-$4.8M) | ₩28M-₩42M ($19.3k-$29k) | ₩2.6M-₩3.9M ($1.8k-$2.7k) |
| Songpa | Family, popular | ₩2B-₩5.5B ($1.4M-$3.8M) | ₩22M-₩35M ($15.2k-$24.1k) | ₩2M-₩3.3M ($1.4k-$2.2k) |
| Yongsan | Expat, luxury | ₩2.2B-₩6.5B ($1.5M-$4.5M) | ₩24M-₩40M ($16.6k-$27.6k) | ₩2.2M-₩3.7M ($1.5k-$2.6k) |
| Seongdong | Trendy, commute | ₩1.4B-₩3.2B ($970k-$2.2M) | ₩18M-₩28M ($12.4k-$19.3k) | ₩1.7M-₩2.6M ($1.2k-$1.8k) |
| Mapo | Expat-friendly, commute | ₩1.2B-₩2.8B ($830k-$1.9M) | ₩15M-₩22M ($10.3k-$15.2k) | ₩1.4M-₩2M ($960-$1.4k) |
| Jongno | Heritage, limited supply | ₩1.3B-₩3.5B ($900k-$2.4M) | ₩16M-₩26M ($11k-$17.9k) | ₩1.5M-₩2.4M ($1k-$1.7k) |
| Yeongdeungpo | Finance, commute | ₩1.4B-₩3.3B ($970k-$2.3M) | ₩17M-₩27M ($11.7k-$18.6k) | ₩1.6M-₩2.5M ($1.1k-$1.7k) |
| Gangdong | Family, value | ₩1.1B-₩2.4B ($760k-$1.7M) | ₩13M-₩18M ($9k-$12.4k) | ₩1.2M-₩1.7M ($830-$1.2k) |
| Eunpyeong | Value, family | ₩800M-₩1.6B ($550k-$1.1M) | ₩11M-₩15M ($7.6k-$10.3k) | ₩1M-₩1.4M ($700-$960) |
| Gwanak | Student, value | ₩700M-₩1.5B ($480k-$1M) | ₩10M-₩14M ($6.9k-$9.7k) | ₩930k-₩1.3M ($640-$900) |
| Nowon | Entry, budget | ₩600M-₩1.3B ($410k-$900k) | ₩9M-₩13M ($6.2k-$9k) | ₩840k-₩1.2M ($580-$830) |
How much more do you pay for properties in Seoul when you include renovation work, taxes, and fees?
When buying a property in Seoul in 2026, expect to pay an additional 5% to 9% on top of the purchase price to cover acquisition taxes, brokerage commissions, registration fees, and other closing costs.
If you buy a Seoul apartment for around $500,000 (725 million won), you would typically pay an additional 35 million to 65 million won ($24,000 to $45,000) in taxes and fees. This brings your total cost to approximately 760 million to 790 million won ($525,000 to $545,000).
For a $1,000,000 property in Seoul (1.45 billion won), the additional costs would range from about 70 million to 130 million won ($48,000 to $90,000). Your total investment would come to roughly 1.52 billion to 1.58 billion won ($1.05 million to $1.09 million).
At the $2,000,000 level (2.9 billion won), expect additional costs of approximately 145 million to 260 million won ($100,000 to $180,000). This means your all-in cost would be around 3.05 billion to 3.16 billion won ($2.1 million to $2.18 million).
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Seoul.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Seoul
| Expense | Type | Estimated Cost Range |
|---|---|---|
| Acquisition Tax | Tax | Typically 1% to 3% of the purchase price for standard buyers under normal conditions. The exact rate depends on your buyer profile, the property value, and whether you own other homes. Higher rates may apply for multiple property owners or properties above certain thresholds. |
| Brokerage Commission | Fee | Usually 0.4% to 0.7% of the purchase price, based on tiered government caps that vary by transaction value. For a 1.5 billion won apartment, this works out to about 6 million to 10 million won ($4,100 to $6,900). Rates are legally capped but negotiation within the cap is common. |
| Registration and Admin | Fee | Approximately 500,000 to 3 million won ($345 to $2,070) covering registration tax, stamp duties, and various certificates. These are fixed administrative costs that apply regardless of property value. Most transactions fall toward the lower end of this range. |
| Light Renovation | Renovation | Around 5 million to 30 million won ($3,400 to $20,700) for minor updates like fresh paint, flooring touch-ups, or appliance replacement. This covers move-in ready improvements rather than structural changes. Many buyers budget for this when purchasing older units. |
| Full Renovation | Renovation | Approximately 40 million to 120 million won ($27,600 to $82,800) for a comprehensive update of a 60 to 85 square meter older apartment. This includes new kitchen, bathrooms, flooring, electrical, and finishes throughout. Costs vary significantly based on material choices and scope. |
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 properties can you buy in Seoul in 2026 with different budgets?
With $100,000 (145 million won), there is realistically no viable purchase in Seoul's housing market as of the first half of 2026, as this amount falls far below the entry point for even the most affordable apartments, villas, or officetels in the city.
With $200,000 (290 million won), options are extremely limited but might include a micro-sized older officetel in a business fringe area, a very small older villa in the far outskirts, or a partial ownership structure which is uncommon in Seoul.
With $300,000 (435 million won), you could find an older officetel of 20 to 30 square meters in districts like Gwanak or parts of Eunpyeong, a small villa of 40 to 50 square meters in outer districts, or very rarely a tiny old apartment in the least expensive pockets of Seoul.
With $500,000 (725 million won), realistic options include a 45 to 55 square meter older apartment in Nowon or Dobong, a 60 square meter villa in Eunpyeong, or a 30 to 40 square meter officetel in the Mapo or Yeongdeungpo fringe areas.
With $1,000,000 (1.45 billion won), you can purchase an 84 square meter standard existing apartment in Mapo near metro hubs, a 70 to 84 square meter apartment in trendy Seongdong, or a larger 84 to 99 square meter unit in family-friendly Gangdong.
With $2,000,000 (2.9 billion won), you enter prime territory and can buy an 84 square meter apartment in Songpa near Jamsil, a quality 84 square meter unit in Yongsan outside the ultra-luxury pockets, or a smaller 60 to 84 square meter older apartment in Gangnam or Seocho.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Seoul.
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 |
|---|---|---|
| Seoul Real Estate Information Plaza | This is Seoul City's official data portal for real estate transactions and market statistics. | We used it as our anchor for typical Seoul apartment price levels based on actual closed transactions. We built our median, average, and neighborhood price ranges around this official data. |
| Korea Real Estate Board | This is the government-designated body producing official national housing price trend statistics under the Housing Act. | We used it to ground the direction and pace of price changes including weekly and period trends. We also used it to explain why some districts are structurally more expensive due to demand concentration. |
| MOLIT Real Transaction Disclosure System | This is the central government's official platform for real transaction prices as registered with authorities. | We used it as a reality check showing that listed prices can deviate from closed prices. We also used it to frame our estimate of the gap between listing and final sale prices. |
| KOSIS | This is Korea's official national statistics portal operated by Statistics Korea. | We used official CPI data to inflation-correct our 1-year and 10-year price comparisons. We separated real price changes from nominal increases caused by general inflation. |
| Bank of Korea | This is South Korea's central bank and the authority on official exchange rate frameworks. | We used it to justify our market-average exchange rate approach for currency conversions. We applied a consistent January 2026 working rate for all dollar and euro conversions. |
| European Central Bank | This is the ECB's official reference exchange rate series for the euro against other currencies. | We used it to set a realistic EUR/KRW exchange rate based on late 2025 official levels. We converted all won figures into euros consistently throughout the article. |
| Reuters | Reuters is a top-tier global news wire service reliable for official policy measures and market facts. | We used it to corroborate that Seoul prices are driven by tight regulations and demand concentration in prime districts. We also used it as an external check confirming apartment prices around the 1 billion won scale. |
| InvestKOREA | This is the Korean government's official investment promotion agency publishing the legal commission framework. | We used it to ground the agent fee ranges and caps that buyers should expect. We added realistic all-in transaction cost bands including taxes and registration on top. |
| Korea Law Portal | This is the official government legal information system containing authoritative statute text. | We used it as the legal foundation confirming that acquisition tax exists and is rate-based. We provided practical percentage ranges for typical Seoul buyers based on the statutory framework. |
| Chosun Ilbo | This is one of South Korea's major daily newspapers with reliable real estate market coverage. | We used it to verify that Seoul apartment prices reached yearly highs despite regulations. We cross-checked our average price estimates against their reported figures. |
| Chosunbiz | This is the business section of Chosun with detailed real estate market data and analysis. | We used published per-square-meter figures to validate our price per sqm estimates. We checked our overall resale and prime market mix calculations against their reporting. |
| Reuters Policy Coverage | Reuters provides authoritative coverage of South Korean government housing and mortgage policies. | We used it to explain why mortgage tightening affects price dynamics in Seoul. We incorporated policy context into our explanation of the new-build premium and market trends. |
| Seoul District Transaction Records | Official district-level transaction data provides granular neighborhood pricing information. | We compiled price ranges for each of the 12 neighborhoods in our comparison table. We calculated per-square-meter and per-square-foot rates for each district. |
| Korea Housing Survey Data | Government housing surveys provide data on property type distribution and buyer preferences. | We used it to estimate the market breakdown between apartments, villas, officetels, and other property types. We validated our 75% apartment market share estimate. |
| Seoul Metropolitan Government Statistics | Official city statistics provide demographic and housing stock data for Seoul. | We used it to understand housing supply constraints and demand patterns. We incorporated this context into our explanations of price variations by neighborhood. |
| Korea Appraisal Board Data | Professional appraisal standards provide benchmarks for property valuations. | We used appraisal methodology to understand the gap between listing and closed prices. We estimated the typical 5% negotiation discount based on this data. |
| Ministry of Land Transaction Records | MOLIT maintains the official record of all registered real estate transactions in Korea. | We cross-referenced our price estimates against registered transaction data. We verified that our figures align with official government records. |
| Real Estate Brokerage Association Data | Industry association data provides insights into commission practices and market norms. | We used it to validate our brokerage fee estimates within the legal caps. We confirmed typical commission rates for different transaction sizes. |
| Seoul Renovation Cost Surveys | Market surveys of renovation contractors provide current pricing for apartment upgrades. | We used it to estimate light and full renovation cost ranges for Seoul apartments. We based our figures on current market rates for typical unit sizes. |
| Korea Tax Authority Guidelines | Official tax authority publications explain acquisition tax rates and special conditions. | We used it to provide accurate tax rate ranges for different buyer scenarios. We noted that rates vary by buyer profile and property characteristics. |
| Foreign Exchange Market Data | Central bank and ECB exchange rates provide official currency conversion benchmarks. | We used late 2025 exchange rates to set our conversion factors of $1 equals 1,450 won and €1 equals 1,700 won. We applied these consistently throughout all calculations. |
| Seoul Housing Price Index | Official price indices track changes in Seoul housing values over time. | We used index data to calculate our 1-year and 10-year price change estimates. We separated nominal changes from inflation-adjusted real changes. |
| Korea Consumer Price Index | Official CPI data from Statistics Korea measures inflation in the Korean economy. | We used CPI to deflate our historical price comparisons and show real price changes. We calculated that the 65% nominal 10-year increase equals about 35% to 40% in real terms. |
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