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
Buying an apartment in Seoul in 2026 is not just about finding the right neighborhood or size; it is about understanding a market where district-level price gaps can reach 4 to 6 times and where loan restrictions mean you may need 40% to 60% cash upfront.
Seoul apartment prices rose nearly 9% in 2025 alone, making it the highest annual growth in 19 years, and the momentum has continued into early 2026 with prices climbing for over 48 consecutive weeks.
We constantly update this blog post to reflect the latest data and market trends in Seoul's real estate market.
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 jumped 8.71% in 2025, the highest annual increase in 19 years, and prices have been rising weekly for over 48 consecutive weeks as of January 2026.
- The price per square meter in Gangnam district is roughly 6 times higher than in budget-friendly districts like Jungnang or Dobong, creating a massive gap within the same city.
- Due to strict loan-to-value rules, Seoul apartment buyers typically need 40% to 60% of the purchase price in cash, which is significantly higher than in most Western markets.
- Songpa district saw the highest price growth in Seoul in 2025 at nearly 21%, followed by Seongdong at 19% and Mapo at 14%, making these hotspots for momentum investors.
- Seoul's average apartment price has crossed 1.5 billion won (about $1,030,000), while the median sits around 1.35 billion won (about $930,000), showing the city's premium positioning.
- The three Gangnam districts (Gangnam-gu, Seocho-gu, and Songpa-gu) now account for 43% of Seoul's total apartment market value despite housing only 17% of the city's population.
- New-build apartments in Seoul command a 5% to 15% premium over comparable resale units, with the gap widening to 25% in prime districts like Gangnam and Seocho.
- Monthly management fees in Seoul apartments typically range from 200,000 to 400,000 won, but luxury complexes can exceed 500,000 won, making ongoing costs a real budget consideration.
How much do apartments really cost in Seoul in 2026?
What's the average and median apartment price in Seoul in 2026?
As of January 2026, the average apartment price in Seoul is approximately 1.5 billion won ($1,030,000 or €950,000), while the median apartment price sits at around 1.35 billion won ($930,000 or €855,000), with the gap between them reflecting the pull from ultra-expensive Gangnam-area properties.
The average price per square meter for Seoul apartments in January 2026 is about 18 million won ($12,400/m² or €11,400/m²), which translates to roughly 1.67 million won per square foot ($1,150/sqft or €1,060/sqft).
Most standard apartments in Seoul fall within a price range of 800 million to 2 billion won ($550,000 to $1,380,000 or €505,000 to €1,265,000), covering the majority of family-sized units across non-premium districts.
How much is a studio apartment in Seoul in 2026?
As of January 2026, a typical studio apartment in Seoul costs around 650 million won ($450,000 or €410,000), though prices vary significantly depending on district and proximity to subway stations.
Entry-level to mid-range studio apartments in Seoul generally fall between 500 million and 700 million won ($345,000 to $480,000 or €315,000 to €445,000), while high-end or luxury studio apartments in premium districts like Gangnam or Yongsan can reach 900 million to 1.2 billion won ($620,000 to $830,000 or €570,000 to €760,000).
Studio apartments in Seoul typically range from 25 to 35 square meters, with the smaller units often commanding a higher price per square meter due to the "small-unit premium" effect common in dense urban markets.
How much is a one-bedroom apartment in Seoul in 2026?
As of January 2026, a typical one-bedroom apartment in Seoul costs around 950 million won ($655,000 or €600,000), representing a mid-point for units sized between 40 and 55 square meters.
Entry-level to mid-range one-bedroom apartments in Seoul typically range from 750 million to 1.1 billion won ($515,000 to $760,000 or €475,000 to €695,000), while high-end or luxury one-bedroom apartments in sought-after areas like Seocho or Mapo can reach 1.3 billion to 1.8 billion won ($895,000 to $1,240,000 or €820,000 to €1,140,000).
One-bedroom apartments in Seoul most commonly measure between 40 and 55 square meters, with the 50 square meter format being particularly popular among young professionals and first-time buyers.
How much is a two-bedroom apartment in Seoul in 2026?
As of January 2026, a typical two-bedroom apartment in Seoul costs around 1.35 billion won ($930,000 or €855,000), which aligns closely with the city's median apartment price given that two-bedroom units are the most common family format.
Entry-level to mid-range two-bedroom apartments in Seoul generally fall between 1.05 billion and 1.5 billion won ($725,000 to $1,030,000 or €665,000 to €950,000), while high-end or luxury two-bedroom apartments in premium districts like Gangnam, Seocho, or Yongsan can range from 2 billion to 3.5 billion won ($1,380,000 to $2,410,000 or €1,265,000 to €2,215,000).
By the way, you will find much more detailed price ranges for apartments in our property pack covering the property market in Seoul.
How much is a three-bedroom apartment in Seoul in 2026?
As of January 2026, a typical three-bedroom apartment in Seoul costs around 1.9 billion won ($1,310,000 or €1,200,000), placing these family-sized units firmly in the upper segment of the market.
Entry-level to mid-range three-bedroom apartments in Seoul generally range from 1.45 billion to 2.2 billion won ($1,000,000 to $1,515,000 or €920,000 to €1,390,000), while high-end or luxury three-bedroom apartments in top-tier districts can reach 3 billion to 5 billion won ($2,070,000 to $3,450,000 or €1,900,000 to €3,165,000) or even higher for trophy properties.
Three-bedroom apartments in Seoul typically measure between 84 and 114 square meters, with the 84 square meter "national format" being especially popular and the larger 99 to 114 square meter units commanding premiums in school-district-focused neighborhoods.
What's the price gap between new and resale apartments in Seoul in 2026?
As of January 2026, new-build apartments in Seoul typically command a premium of 5% to 15% over comparable resale apartments in the same neighborhood, with the gap reaching 20% to 25% in prime districts like Gangnam and Seocho where fresh supply is scarce.
The estimated average price per square meter for new-build apartments in Seoul is around 19 to 21 million won ($13,100 to $14,500/m² or €12,000 to €13,300/m²), reflecting modern amenities, better insulation, and "brand apartment" effects from major developers.
Resale apartments in Seoul average closer to 17 to 18 million won per square meter ($11,700 to $12,400/m² or €10,750 to €11,400/m²), though well-maintained buildings in desirable locations can trade at or near new-build prices.
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Can I afford to buy in Seoul in 2026?
What's the typical total budget (all-in) to buy an apartment in Seoul in 2026?
As of January 2026, the typical all-in budget to buy a standard apartment in Seoul is approximately 1.4 billion to 1.6 billion won ($965,000 to $1,100,000 or €885,000 to €1,010,000), assuming a median-priced unit plus all closing costs and taxes.
Beyond the purchase price, buyers in Seoul should budget for acquisition-related taxes (often the largest item), legally capped brokerage fees, registration and documentation fees, mortgage setup costs if borrowing, and occasional move-in charges from the building management.
We go deeper and try to understand what costs can be avoided or minimized (and how) in our Seoul property pack.
You can also read our dedicated blog article to understand what you can at different budget levels in Seoul.
What down payment is typical to buy in Seoul in 2026?
As of January 2026, the typical down payment to buy an apartment in Seoul ranges from 40% to 60% of the purchase price, which for a median-priced apartment means roughly 540 million to 810 million won ($370,000 to $560,000 or €340,000 to €510,000) in cash.
Most Korean banks require a minimum down payment of 40% in Seoul due to loan-to-value (LTV) restrictions, with some premium districts and regulated zones requiring even higher cash contributions under the government's household debt management policies.
To secure favorable mortgage terms in Seoul, financial advisors typically recommend a down payment of 50% or more, which helps you qualify for lower interest rates and reduces your exposure to debt-service-ratio (DSR) constraints that limit borrowing capacity.
You can also read our latest update about mortgage and interest rates in South Korea.
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 neighborhoods are cheapest or priciest in Seoul in 2026?
How much does the price per m² for apartments vary by neighborhood in Seoul in 2026?
As of January 2026, the price per square meter for apartments in Seoul ranges from approximately 7 million won ($4,800/m² or €4,400/m²) in the most affordable districts to over 37 million won ($25,500/m² or €23,400/m²) in the most expensive areas, representing a gap of more than 5 times.
The most affordable neighborhoods in Seoul include Jungnang-gu, Geumcheon-gu, Gangbuk-gu, and Dobong-gu, where prices typically range from 7 million to 10 million won per square meter ($4,800 to $6,900/m² or €4,400 to €6,300/m²), offering the best value for budget-conscious buyers.
The most expensive neighborhoods in Seoul are Gangnam-gu at around 37 million won per square meter ($25,500/m² or €23,400/m²), Seocho-gu at around 34 million won per square meter ($23,400/m² or €21,500/m²), and Songpa-gu at around 27 million won per square meter ($18,600/m² or €17,100/m²), where premium schools, amenities, and prestige drive prices.
By the way, we've written a blog article detailing what are the current best areas to invest in property in Seoul.
What neighborhoods are best for first-time buyers on a budget in Seoul in 2026?
As of January 2026, the top three neighborhoods best suited for first-time buyers on a budget in Seoul are Dobong-gu (including Ssangmun-dong and Chang-dong), Gangbuk-gu (including Mia-dong and Suyu-dong), and Jungnang-gu (including Myeonmok-dong and Sangbong-dong), all offering prices well below the city average.
Apartments in these budget-friendly Seoul neighborhoods typically range from 500 million to 900 million won ($345,000 to $620,000 or €315,000 to €570,000) for a two-bedroom unit, compared to 1.5 billion won or more in premium districts.
These neighborhoods offer good subway connectivity (Lines 1, 4, 6, and 7 serve these areas), local markets, parks, and a more residential atmosphere, making them practical choices for first-time buyers who prioritize space over prestige.
The main trade-off of buying in these budget-friendly Seoul neighborhoods is the longer commute time to central business districts like Gangnam or Yeouido, typically 45 to 60 minutes by subway, and somewhat less developed retail and entertainment infrastructure compared to trendier areas.
Which neighborhoods have the fastest-rising apartment prices in Seoul in 2026?
As of January 2026, the top three neighborhoods with the fastest-rising apartment prices in Seoul are Songpa-gu (including Jamsil-dong and Sincheon-dong), Seongdong-gu (including Seongsu-dong and Oksu-dong), and Mapo-gu (including Ahyeon-dong and Yeonnam-dong), all showing double-digit annual gains.
Songpa-gu led Seoul's price growth in 2025 with an estimated 20.9% year-over-year increase, followed by Seongdong-gu at 19.1% and Mapo-gu at 14.3%, significantly outpacing the citywide average of 8.7%.
The main driver behind the rapid price growth in these Seoul neighborhoods is a combination of limited new supply, strong demand from young professionals seeking trendy urban environments, major redevelopment projects, and improved transit connectivity linking these areas to Gangnam and the central business district.
You can also read our latest update about property price forecasts in Seoul.
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What extra costs will I pay on top of the apartment price in Seoul in 2026?
What are all the buyer closing costs when you buy an apartment in Seoul?
The estimated total buyer closing cost for a typical apartment purchase in Seoul is approximately 55 million to 100 million won ($38,000 to $69,000 or €35,000 to €63,000), depending on the purchase price and your specific tax situation.
The main categories of closing costs buyers must pay in Seoul include acquisition tax (the largest item, ranging from 1% to 12% depending on buyer status), brokerage fees (legally capped), registration and documentation fees, stamp duty, and mortgage-related costs if financing.
Acquisition tax is typically the largest closing expense for buyers in Seoul, often accounting for 50% or more of total closing costs, with first-time primary residence buyers paying around 1% to 3% while multiple-home owners face rates of 8% to 12%.
The brokerage fee in Seoul is negotiable within legal caps, and some administrative fees may vary slightly between transactions, but the core tax components are fixed by law and not subject to negotiation.
On average, how much are buyer closing costs as a percentage of the purchase price for an apartment in Seoul?
The estimated typical percentage of the purchase price that buyers should budget for closing costs in Seoul is around 4% to 7%, with first-time owner-occupiers generally landing at the lower end and investors or multiple-home buyers at the higher end.
The realistic low-to-high percentage range that covers most standard transactions in Seoul is 3.5% at the minimum (for a first-time buyer with favorable tax treatment) to 8% or more at the maximum (for multiple-property owners facing surtaxes and higher acquisition rates).
We actually cover all these costs and strategies to minimize them in our pack about the real estate 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 are the ongoing monthly and yearly costs of an apartment in Seoul in 2026?
What are typical HOA fees in Seoul right now?
Management fees (called 관리비 in Korean) are standard for apartment buildings in Seoul, with a typical monthly fee ranging from 200,000 to 350,000 won ($140 to $240 or €125 to €220) for a mid-sized apartment, covering building operations, security, cleaning, elevators, and reserve funds.
The realistic range of management fees in Seoul spans from around 150,000 won ($100 or €95) per month for basic older buildings to 400,000 to 600,000 won ($275 to $415 or €255 to €380) per month for luxury complexes with premium amenities like concierge services, fitness centers, and underground parking.
What utilities should I budget monthly in Seoul right now?
The estimated total monthly utility cost for a typical apartment in Seoul is approximately 150,000 to 250,000 won ($100 to $170 or €95 to €160), covering electricity, water, gas, and heating, though this varies significantly by season and usage patterns.
The realistic range of monthly utility costs in Seoul spans from around 100,000 won ($70 or €65) for a small, energy-efficient unit to 300,000 won or more ($205 or €190) for larger apartments during peak heating or cooling seasons.
The specific utilities included in a typical Seoul apartment monthly budget are electricity (KEPCO), water and sewage (Seoul Arisu), city gas for cooking and heating, and internet, with heating often bundled into management fees depending on the building system.
Heating (whether gas-fired ondol floor heating or district heating) tends to be the most expensive utility for Seoul apartment owners during winter months, sometimes exceeding 120,000 won ($85 or €75) per month alone, while summer air conditioning can push electricity bills to similar levels.
How much is property tax on apartments in Seoul?
The estimated typical annual property tax for an apartment in Seoul ranges from approximately 1.5 million to 5 million won ($1,030 to $3,450 or €950 to €3,165) for most owner-occupied units, depending on the government-assessed value and your ownership situation.
Property tax in Seoul is calculated based on the official assessed value (not market price) at progressive rates between 0.1% and 0.4%, plus a 20% Local Education Tax surcharge, with higher-value properties potentially subject to the additional Comprehensive Real Estate Holding Tax.
The realistic range of annual property tax in Seoul spans from around 1 million won ($690 or €630) for lower-value apartments in outer districts to 10 million won or more ($6,900 or €6,330) for premium properties exceeding certain assessment thresholds.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Seoul.
What's the yearly building maintenance cost in Seoul?
The estimated typical yearly building maintenance cost for apartment owners in Seoul is approximately 2.4 million to 4.2 million won ($1,655 to $2,895 or €1,520 to €2,660), calculated as 12 months of management fees that include reserve fund contributions for long-term repairs.
The realistic range of yearly maintenance costs in Seoul spans from around 1.8 million won ($1,240 or €1,140) for basic older buildings to 6 million won or more ($4,140 or €3,800) for premium complexes with extensive amenities and higher reserve fund requirements.
Building maintenance costs in Seoul typically include common area electricity, elevator maintenance, security services, cleaning, landscaping, pest control, and mandatory contributions to the long-term repair reserve fund managed by the building association.
In Seoul apartments, building maintenance costs are already included within the monthly management fee (관리비) rather than charged separately, so owners should not expect an additional maintenance bill beyond what they pay through this consolidated fee.
How much does home insurance cost in Seoul?
The estimated typical annual home insurance cost for an apartment in Seoul ranges from approximately 50,000 to 200,000 won ($35 to $140 or €30 to €125), covering basic fire and property damage protection.
The realistic range of annual home insurance costs in Seoul spans from around 50,000 won ($35 or €30) for minimal coverage on a standard apartment to 350,000 won or more ($240 or €220) for comprehensive policies covering fire, water damage, theft, and liability on higher-value properties.
Home insurance is generally optional for apartment owners in Seoul, though mortgage lenders may require basic fire insurance as a condition of the loan, and many owners choose to add it for peace of mind given the relatively low cost.
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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 |
|---|---|---|
| Seoul Economic Daily (KB Real Estate data) | KB is one of Korea's most cited housing datasets, widely used by policymakers and media. | We used it to anchor Seoul-wide average prices per square meter and district-by-district price gaps. We converted KB's per-pyeong figures to per-square-meter for international readers. |
| Chosun Biz | Major Korean business outlet with attributed data from KB Kookmin Bank. | We used it to establish Seoul's average and median apartment prices. We cross-referenced these figures with other sources for validation. |
| Bloomberg | Reliable international financial news citing Korea Real Estate Board weekly data. | We used it to confirm the 48-week price rally and weekly growth rates. We incorporated this for the market momentum narrative. |
| Business Korea | Korean business outlet with detailed district-level growth data from official sources. | We used it to identify the fastest-growing districts like Songpa, Seongdong, and Mapo. We extracted specific year-over-year growth percentages for each district. |
| Korea Real Estate Board | National public institution behind core housing statistics and official platforms. | We used it to confirm K-apt as the official management fee disclosure system. We relied on it to validate price trend data reported by media outlets. |
| K-apt (공동주택관리정보시스템) | Government-backed system where apartment complexes disclose management fees under Korean law. | We used it as the authoritative reference for what management fees include. We recommended it for readers to verify specific building costs. |
| Seoul Metropolitan Government | Official city government explanation of legally capped brokerage fees. | We used it to calculate realistic buyer-side agent fee caps by price bracket. We included it directly in closing costs guidance. |
| Seoul Waterworks (Arisu) | Seoul's official billing site showing actual water and sewage tariffs. | We used it to estimate monthly water and sewage costs for typical households. We cited the official rate structure for credibility. |
| KEPCO (Korea Electric Power Corp.) | National electricity utility's official residential tariff schedule. | We used it to build realistic monthly electricity budget ranges. We kept calculations simple for typical household consumption. |
| Financial Services Commission | Primary-source regulator document on mortgage rules and LTV measures. | We used it to explain why down payments are high in Seoul despite strong income. We referenced it for policy context on financing constraints. |
| Reuters | Reliable wire service careful about attributing figures to official statements. | We used it to triangulate LTV tightening magnitude in premium Seoul areas. We used it as a cross-check against Korean official releases. |
| ValutaFX | Aggregates published market rates into transparent day-by-day exchange history. | We used it to provide rough USD and EUR equivalents for international readers. We kept core budgeting in KRW as that's what buyers actually pay. |
| Global Property Guide | Respected international property research platform with Korean tax and cost data. | We used it to verify acquisition tax rates and transaction cost percentages. We cross-referenced their market analyses with local sources. |
| PwC Korea Tax Summaries | Professional services firm with authoritative tax rate documentation. | We used it to confirm property tax rate bands and acquisition tax structures. We referenced their explanations for holding tax calculations. |
| Korea Herald | Major English-language Korean newspaper with Real Estate R114 data citations. | We used it to verify the Gangnam districts' market value concentration. We extracted district-level pricing comparisons from their reporting. |
| Korea JoongAng Daily | Major Korean outlet reporting on government assessment policies. | We used it to explain the 69% official price realization rate affecting property taxes. We incorporated this for accurate tax burden estimates. |
| Seoul Metropolitan Government Tax Portal | City's official legal portal for the local tax framework. | We used it to show that taxes are legally governed, not negotiable. We referenced it for acquisition tax and property tax structures. |
| Korea Insurance Development Institute | Official insurance statistics institution with market premium data. | We used it to anchor home insurance cost ranges for Seoul apartments. We provided conservative estimates based on their market overview. |
| Santander Trade Portal | International bank portal with verified Korean tax system summaries. | We used it to cross-check acquisition and property tax rate structures. We verified foreign buyer tax treatment against their documentation. |
| Numbeo | Crowdsourced cost-of-living database with Seoul-specific utility data. | We used it to validate utility cost ranges against official tariff calculations. We cross-referenced their apartment price data with official sources. |
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.
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