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 thinking about buying an apartment in Seoul to rent it out, you're probably wondering what kind of return you can actually expect.
Seoul's rental market works differently from most cities because of the unique jeonse deposit system, which means yields aren't always what they first appear to be.
We constantly update this blog post to give you the freshest numbers and help you make a smart decision.
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.
What rental yields can I realistically get from an apartment in Seoul?
What's the average gross rental yield for apartments in Seoul as of 2026?
As of early 2026, the typical gross rental yield for apartments in Seoul sits around 2.1%, which is lower than what many foreign investors initially expect from a major Asian capital.
In practice, most apartment investments in Seoul fall within a gross yield range of 1.8% to 2.7%, depending heavily on unit size, location, and how the rental contract is structured.
The main factor that causes Seoul apartment yields to vary so much is the jeonse system, where tenants pay a large lump-sum deposit instead of monthly rent, which means the "real" rental value is often hidden inside that deposit rather than showing up as cash flow.
Compared to other major South Korean cities like Busan or Daegu, Seoul's gross yields are actually on the lower end because apartment prices in the capital have climbed so high, with the average Seoul apartment now exceeding 1.5 billion won.
What's the average net rental yield for apartments in Seoul as of 2026?
As of early 2026, the average net rental yield for apartments in Seoul lands around 1.5%, after accounting for all the costs that chip away at your gross income.
Most Seoul apartment investors can realistically expect net yields in the range of 1.2% to 1.8%, with the higher end going to those who minimize vacancy and manage costs tightly.
The single biggest expense category that drags down Seoul yields is the building management fee, called gwanlibi, which averages around 275,000 won per month and can include reserve fund contributions that owners must cover even when tenants pay the monthly service charge.
By the way, you will find much more detailed data in our property pack covering the real estate market in Seoul.
What's the typical rent-to-price ratio for apartments in Seoul in 2026?
As of early 2026, the typical annual rent-to-price ratio for apartments in Seoul is around 2%, meaning you collect roughly 2 won in rent for every 100 won of property value each year.
This ratio ranges from about 1.6% in premium family-sized apartments in districts like Gangnam to around 3% for well-located studios near universities or business hubs.
Smaller units in areas like Guro-gu near the Digital Complex or Gwanak-gu near Seoul National University tend to have the highest rent-to-price ratios because purchase prices stay relatively affordable while rental demand from young professionals and students remains strong.
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How much rent can I charge for an apartment in Seoul?
What's the typical tenant budget range for apartments in Seoul right now?
The typical monthly tenant budget for renting an apartment in Seoul ranges from about 1 million to 2.5 million won, which translates to roughly 690 to 1,720 USD or 640 to 1,610 EUR, though most tenants also pay a substantial upfront deposit.
Tenants targeting mid-range apartments in Seoul typically budget between 1.5 million and 2.2 million won per month, around 1,030 to 1,520 USD or 970 to 1,420 EUR, usually paired with deposits of 50 to 150 million won.
For high-end or luxury apartments in prime Seoul districts like Gangnam or Yongsan, tenants often budget 3 million won or more per month, roughly 2,070 USD or 1,940 EUR and above, frequently with deposits exceeding 200 million won.
We have a blog article where we update the latest data about rents in Seoul here.
What's the average monthly rent for a 1-bed apartment in Seoul as of 2026?
As of early 2026, the average monthly rent for a 1-bed apartment in Seoul falls between 1.3 million and 1.9 million won, which is about 900 to 1,310 USD or 840 to 1,230 EUR, typically requiring a deposit of 30 to 100 million won.
At the entry level, a decent 1-bed apartment in Seoul rents for around 1 million to 1.3 million won per month, roughly 690 to 900 USD or 645 to 840 EUR, and you'd typically find these in outer districts like Nowon-gu or Dobong-gu in older buildings with basic finishes.
A mid-range 1-bed apartment in Seoul goes for about 1.4 million to 1.8 million won monthly, around 970 to 1,240 USD or 900 to 1,160 EUR, and these are usually modern officetels or small apartments near subway stations in areas like Mapo-gu or Seongdong-gu.
A luxury 1-bed apartment in Seoul can command 2 million won or more per month, over 1,380 USD or 1,290 EUR, and these are typically brand-new units in high-rise buildings with concierge services in Gangnam-gu or Yongsan-gu.
What's the average monthly rent for a 2-bed apartment in Seoul as of 2026?
As of early 2026, the average monthly rent for a 2-bed apartment in Seoul ranges from 1.8 million to 3 million won, approximately 1,240 to 2,070 USD or 1,160 to 1,940 EUR, usually with deposits starting at 100 million won.
An entry-level 2-bed apartment in Seoul rents for around 1.5 million to 1.8 million won per month, about 1,030 to 1,240 USD or 970 to 1,160 EUR, and these are typically found in older apartment complexes in districts like Geumcheon-gu or Gangseo-gu with standard finishes and basic amenities.
A mid-range 2-bed apartment in Seoul goes for roughly 2 million to 2.5 million won monthly, around 1,380 to 1,720 USD or 1,290 to 1,610 EUR, and you'd find these in well-maintained complexes near good schools in areas like Songpa-gu or Dongjak-gu.
A high-end 2-bed apartment in Seoul commands 3 million won or more per month, over 2,070 USD or 1,940 EUR, typically in newer luxury complexes with underground parking, fitness centers, and prime locations in Seocho-gu or Gangnam-gu.
What's the average monthly rent for a 3-bed apartment in Seoul as of 2026?
As of early 2026, the average monthly rent for a 3-bed apartment in Seoul ranges from 2.5 million to 4.5 million won for cash rent contracts, roughly 1,720 to 3,100 USD or 1,610 to 2,900 EUR, though many families opt for jeonse deposits instead.
An entry-level 3-bed apartment in Seoul rents for around 2 million to 2.5 million won per month, about 1,380 to 1,720 USD or 1,290 to 1,610 EUR, typically in older complexes in districts like Guro-gu or Gwanak-gu with basic amenities and longer commute times.
A mid-range 3-bed apartment in Seoul goes for roughly 3 million to 3.5 million won monthly, around 2,070 to 2,410 USD or 1,940 to 2,260 EUR, and these are usually in established family neighborhoods like Jamsil in Songpa-gu or Banpo in Seocho-gu with good school districts.
A luxury 3-bed apartment in Seoul commands 4 million won or more per month, over 2,760 USD or 2,580 EUR, typically in prestigious complexes like those in Apgujeong or Daechi-dong with premium finishes, large floor plans, and top-tier school access.
How fast do well-priced apartments get rented in Seoul?
A well-priced apartment in Seoul typically finds a tenant within 1 to 4 weeks, with studios and 1-beds in high-demand areas like Hongdae or Gangnam often renting in under 2 weeks.
The vacancy rate for apartments in Seoul is generally low, usually staying under 5% in popular districts because the city's rental market is highly liquid and the shift from jeonse toward monthly rent contracts has increased transaction activity.
The main factors that make some Seoul apartments rent faster than others include proximity to major subway interchanges, walking distance to company shuttle bus stops for large employers like Samsung or LG, and access to sought-after school districts for family-sized units.
And if you want to know what should be the right price, check our latest update on how much an apartment should cost 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.
Which apartment type gives the best yield in Seoul?
Which is better for yield between studios, 1-bed, 2-bed and 3-bed apartments in Seoul as of 2026?
As of early 2026, studios and micro-units typically offer the best rental yields in Seoul, outperforming larger apartments because their lower purchase prices translate into better rent-to-value ratios.
The typical gross rental yield breakdown in Seoul looks like this: studios can achieve 2.4% to 3.2%, 1-beds usually land between 2.1% and 2.8%, 2-beds range from 1.8% to 2.4%, and 3-beds typically yield 1.6% to 2.2%.
The main reason smaller units outperform in Seoul is that family-sized apartments are disproportionately expensive due to intense competition for units near top schools in districts like Gangnam, Seocho, and Songpa, while small-unit rents stay strong thanks to steady demand from the city's large population of young professionals and single-person households.
Which features are best if you want a good yield for your apartment in Seoul?
The top features that boost rental yields for Seoul apartments include being within a 5-minute walk of a major subway station, having low monthly management fees under 200,000 won, and offering modern security systems like digital door locks and CCTV, which the city's safety-conscious tenants prioritize.
In Seoul, mid-floor apartments between the 5th and 15th floors tend to rent fastest because they balance good views with reasonable elevator wait times, while ground floors and very high floors can sit longer on the market.
Apartments with balconies or small outdoor spaces do command slightly higher rents in Seoul, especially in denser districts like Mapo-gu or Jung-gu, though the premium is modest because most Korean apartment complexes already include shared outdoor areas and rooftop spaces.
Building features like dedicated parking spots, modern elevators, and on-site convenience facilities like package lockers and fitness rooms do justify slightly higher rents in Seoul, but you should verify that the resulting management fees stay reasonable because buildings with fancy amenities often charge 350,000 won or more per month in gwanlibi.
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Which neighborhoods give the best rental demand for apartments in Seoul?
Which neighborhoods have the highest rental demand for apartments in Seoul as of 2026?
As of early 2026, the Seoul neighborhoods with the highest rental demand include Gangnam-gu, Mapo-gu, Yongsan-gu, Seongdong-gu, and Songpa-gu, all of which combine strong employment access with excellent transportation links.
The main demand driver in these Seoul neighborhoods is proximity to major employment clusters and subway interchange stations, with areas like Gongdeok in Mapo-gu and Seongsu in Seongdong-gu attracting young professionals who want short commutes to tech companies and creative industries.
In these high-demand Seoul neighborhoods, well-priced apartments typically rent within 1 to 2 weeks, and vacancy rates often stay below 3% because the tenant pool is deep and turnover happens quickly.
One emerging neighborhood gaining rental momentum in Seoul is the Magok area in Gangseo-gu, where the growing LG Science Park and surrounding business district are pulling in new tenants who want affordable rents near major employers.
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 highest yields for apartments in Seoul as of 2026?
As of early 2026, the Seoul neighborhoods with the highest rental yields include Guro-gu, Geumcheon-gu, Gwanak-gu, Dongjak-gu, and parts of Gangseo-gu, where purchase prices stay more affordable while rental demand remains solid.
In these top-yielding Seoul neighborhoods, gross rental yields typically range from 2.5% to 3.5%, which is noticeably higher than the 1.6% to 2.2% yields common in premium districts like Gangnam or Seocho.
The main reason these Seoul neighborhoods offer higher yields is that they sit near major employment nodes like the Guro and Gasan Digital Complexes or Seoul National University, which generate steady tenant demand, but they lack the school district prestige that inflates apartment prices in wealthier southern districts.
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.
Should I do long-term rental or short-term rental in Seoul?
Is short-term rental legal for apartments in Seoul as of 2026?
As of early 2026, short-term rentals are legal in Seoul but heavily restricted, meaning most standard apartments cannot be easily converted into Airbnb-style accommodations without meeting specific regulatory requirements.
The main legal restriction for operating a short-term rental apartment in Seoul is the "foreign tourist urban homestay" framework, which typically requires the host to actually live at the property and only accept foreign tourists as guests, making pure investment properties difficult to operate legally.
For Airbnb-style rentals in Seoul, hosts generally need to register their accommodation with local authorities, comply with the Tourism Promotion Act, and in many cases obtain a business registration, with platforms like Airbnb now actively emphasizing compliance requirements for Korean hosts.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable in Seoul.
What's the gross yield difference short-term vs long-term in Seoul in 2026?
As of early 2026, short-term rentals in Seoul can potentially generate gross yields of 3.5% to 5%, compared to around 2.1% for typical long-term rentals, but this gap shrinks significantly once you account for the higher operating costs of running a short-term rental.
The typical gross yield range for short-term rentals in Seoul is 3.5% to 5% based on average daily rates around 120,000 won and occupancy rates near 63%, while long-term rentals consistently deliver 1.8% to 2.7% gross with far less management effort.
The main additional costs that reduce the net yield advantage of short-term rentals in Seoul include platform fees of 3% to 15%, cleaning costs between turnovers, higher utility bills, furnishing expenses, and property management fees that typically run 15% to 25% of revenue for professionally managed units.
For a short-term rental to reliably outperform a long-term rental in Seoul, you generally need to maintain occupancy above 70% while keeping your nightly rate competitive, which can be challenging during low tourism seasons and requires active management.
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What costs will eat into my net yield for an apartment in Seoul?
What are building service charges as a % of rent in Seoul as of 2026?
As of early 2026, the typical building service charge for Seoul apartments averages around 275,000 won per month, which works out to roughly 12% to 20% of monthly rent depending on your unit's rental income, or about 190 USD and 175 EUR.
Building service charges in Seoul realistically range from about 150,000 won to 400,000 won per month, translating to 100 to 275 USD or 95 to 260 EUR, with the percentage of rent varying from 8% for high-rent luxury units to over 25% for lower-rent apartments in amenity-heavy buildings.
In Seoul, the services that typically justify higher-than-average management fees include extensive landscaping, 24-hour security staffing, heated underground parking, and large long-term repair reserve fund contributions, which are particularly common in newer premium complexes built after 2015.
What annual maintenance budget should I assume for an apartment in Seoul right now?
A reasonable annual maintenance budget for a Seoul apartment owner is around 4.5 million to 10 million won per year, roughly 3,100 to 6,900 USD or 2,900 to 6,450 EUR, representing about 0.3% to 0.7% of the property's value.
This range can vary from about 3 million won annually for newer apartments under 10 years old in good condition to over 10 million won for older buildings that require more frequent repairs, roughly 2,070 to 6,900 USD or 1,940 to 6,450 EUR.
The most common maintenance expenses Seoul apartment owners face annually include boiler servicing and occasional replacement, which is critical given Korea's cold winters, along with periodic ondol floor heating repairs, air conditioning unit maintenance, and contributions to special assessments for major building upgrades like elevator modernization or facade repairs.
What property taxes should I expect for an apartment in Seoul as of 2026?
As of early 2026, a typical Seoul apartment owner should budget for annual property taxes ranging from roughly 1 million to 5 million won, about 690 to 3,450 USD or 645 to 3,230 EUR, depending heavily on the apartment's officially assessed value and your overall property holdings.
Property taxes in Seoul can range from under 1 million won for modestly valued apartments to well over 10 million won for high-value properties or multi-property owners, roughly 690 to 6,900 USD or 645 to 6,450 EUR, with the national comprehensive holding tax adding significant costs for those above certain thresholds.
Seoul property taxes are calculated based on the government's officially assessed value, called gongsigagyeok, which is typically 60% to 70% of market value, with local property tax applying standard rates and the national comprehensive holding tax kicking in for owners whose combined holdings exceed set thresholds.
There are some property tax reductions available in Seoul, including lower rates for single-home owners and various exemptions for first-time buyers or certain property value brackets, though the rules change frequently and vary based on your household's total property ownership situation.
If you want to go into more details, we also have a blog article detailing all the property taxes and fees in Seoul.
How much does landlord insurance cost for an apartment in Seoul in 2026?
As of early 2026, typical annual landlord insurance for a Seoul apartment costs around 150,000 to 500,000 won per year, roughly 100 to 345 USD or 95 to 320 EUR, covering fire liability and basic property protection.
Landlord insurance costs in Seoul can range from about 100,000 won for basic coverage on a small unit to over 700,000 won for comprehensive policies on larger or higher-value apartments, approximately 70 to 480 USD or 65 to 450 EUR, depending on coverage level and building characteristics.
What's the typical property management fee for apartments in Seoul as of 2026?
As of early 2026, the typical property management fee for long-term rental apartments in Seoul runs about 8% to 12% of collected rent, which on a 1.5 million won monthly rent would mean roughly 120,000 to 180,000 won per month, about 85 to 125 USD or 80 to 115 EUR.
Property management fees in Seoul can range from around 5% for basic rent collection services to 15% or more for full-service management including tenant sourcing, and for short-term rentals the range jumps to 15% to 25% of revenue due to the higher workload involved.
Standard property management services in Seoul typically include tenant screening, rent collection, coordinating minor repairs, handling lease renewals, and liaising with the building management office, though finding English-speaking management for foreign owners may cost slightly more.
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 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 Real Estate Board (KREB) | Official government-designated body for Korean real estate statistics. | We used KREB data as the backbone for understanding sale and rental market trends in Seoul. We treated it as the highest-priority reference when checking price and rent directions. |
| Bank of Korea | Korea's central bank and source for official interest rate policy. | We used the BOK base rate to calculate the jeonse-to-monthly-rent conversion rate. We anchored all early 2026 interest assumptions to their January 2026 policy decision. |
| Seoul Economic Daily (KB data) | Reports KB Real Estate index, Korea's most-cited private housing price source. | We used this to establish the current Seoul average apartment price level. We made it the main price denominator in our yield calculations. |
| Maeil Business Newspaper | Major Korean business newspaper with detailed real estate market coverage. | We used MK for Seoul jeonse deposit levels and district-level rent comparisons. We cross-referenced multiple MK articles to triangulate rental market data. |
| ChosunBiz | Provides quantified Seoul apartment data including management fees. | We used ChosunBiz to establish average Seoul management fee levels. We factored these costs into our net yield calculations. |
| Seoul Metropolitan Government | Official city government source for how Seoul's rental system works. | We used this to explain jeonse and deposit structures for foreign readers. We referenced it to show why headline monthly rents can understate true rental value. |
| K-apt Management System | National platform for disclosed apartment management fee reporting. | We used K-apt to validate that management fees are systematically disclosed in Korea. We referenced it as proof that building costs are measurable and comparable. |
| AirDNA | Leading short-term rental data provider with Seoul market coverage. | We used AirDNA for Seoul occupancy rates, daily rates, and revenue estimates. We based our short-term vs long-term yield comparison on their market snapshot. |
| Savills Korea Research | Top-tier global real estate consultancy with professional methodology. | We used Savills to understand the structural shift from jeonse to monthly rent. We cross-checked their institutional analysis against local Korean reporting. |
| InvestKOREA | Government investment agency summarizing Korean tax rules in English. | We used InvestKOREA to structure our property tax checklist. We relied on it to avoid informal sources for core tax category definitions. |
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