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This article explains the current housing prices in South Korea in 2026, using the latest price data we could verify for June 2026.
We keep this South Korea housing price guide updated, because the Seoul market and the regional markets can move in very different directions.
You will see average prices, median prices, price per square meter, neighborhood ranges, taxes, fees, and what different budgets can buy in South Korea.
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 South Korea.
Insights
- The average housing price in South Korea in 2026 is about ₩410 million, or about $264,000, but this national figure hides a very wide Seoul versus regional gap.
- The median housing price in South Korea in 2026 is closer to ₩320 million, or about $206,000, which is more useful for a normal buyer than the average.
- Seoul prime apartments are not really the same market as provincial low-rise homes, because a good Seoul family apartment can cost several times the national midpoint.
- In South Korea in 2026, a realistic entry budget is about ₩120 million to ₩250 million, mostly for older or smaller homes outside the best Seoul districts.
- Listed property prices in South Korea are usually about 3% to 7% above final sale prices, because actual transaction prices are publicly visible through official systems.
- The median price per square meter in South Korea is about ₩3.9 million in 2026, but prime Seoul apartments can reach ₩20 million to ₩35 million per square meter.
- New apartments in South Korea usually cost about 20% to 35% more than older homes, because buyers pay for parking, energy performance, amenities, and lower renovation risk.
- A $500,000 budget can buy a serious home in South Korea in 2026, but it usually means Incheon, Suwon, Goyang, Busan, or a smaller apartment in Seoul.
- A $1 million budget is Seoul-capable in 2026, especially in Mapo, Seongdong, or Bundang, but it does not buy unlimited choice in Gangnam or Seocho.
- Foreign buyers should usually add 6% to 10% on top of the South Korea property purchase price when taxes, fees, and basic transaction costs are included.
What is the average housing price in South Korea in 2026?
The median housing price in South Korea is more useful than the average housing price because the average is pulled upward by expensive Seoul apartments and luxury homes.
We are writing this South Korea property price estimate as of 2026, with the latest data collected from authoritative sources and manually double checked.
In South Korea in 2026, the estimated median residential price is about ₩320 million, which is about $206,000 or €181,000. The estimated average residential price in South Korea in 2026 is about ₩410 million, which is about $264,000 or €233,000.
For most residential properties in South Korea in 2026, a realistic 80% market range is about ₩150 million to ₩900 million, or about $96,000 to $578,000, or about €85,000 to €510,000.
A realistic entry range in South Korea in 2026 is about ₩120 million to ₩250 million, or about $77,000 to $161,000, or about €68,000 to €142,000, which can buy an older 40 to 55 sq m villa or small apartment in cities such as Daegu, Gwangju, Cheongju, Jeonju, or an outer Busan district.
A typical luxury property range in South Korea in 2026 is about ₩1.5 billion to ₩5 billion or more, or about $964,000 to $3.21 million or more, or about €850,000 to €2.83 million or more, which can buy a large premium apartment in Gangnam-gu, Seocho-gu, Yongsan-gu, or Seongdong-gu in Seoul.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in South Korea.
Are South Korea property listing prices close to the actual sale price in 2026?
In South Korea in 2026, listed property prices are usually about 3% to 7% higher than the final sale price, with about 5% being a useful national estimate.
The gap is fairly contained because buyers and sellers can check recent closed prices through the official MOLIT transaction system. The gap is usually smallest for liquid Seoul apartments, and widest for older homes or slower regional markets where sellers may still be anchored to old peak prices.
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What is the price per sq m or per sq ft for properties in South Korea in 2026?
As of 2026, the median housing price per square meter in South Korea is about ₩3.9 million, or about $2,506, or €2,209, which equals about ₩362,000, or $233, or €205 per square foot. The average housing price per square meter in South Korea is about ₩4.8 million, or about $3,085, or €2,719, which equals about ₩446,000, or $287, or €253 per square foot.
The highest price per square meter in South Korea in 2026 is usually found in compact and mid-sized apartments in prime Seoul districts, while the lowest price per square meter is usually found in older detached homes, low-rise villas, and older apartments in weaker provincial cities.
In South Korea in 2026, the highest price per square meter is usually in Seoul districts such as Gangnam, Seocho, Songpa, Yongsan, Seongdong, and Mapo, where ranges can reach about ₩15 million to ₩35 million or more per square meter. The lowest ranges are usually in older parts of Jeonju, Cheongju, Gwangju outskirts, Daegu suburbs, and Daejeon suburbs, where prices can sit around ₩1.8 million to ₩3.5 million per square meter.
How have property prices evolved in South Korea?
Compared with one year ago, nominal residential property prices in South Korea are up by about 2% to 3% in 2026. The main reason is that Seoul and the capital region stayed stronger, while many regional markets remained much softer.
Compared with two years ago, South Korea property prices are likely modestly higher in nominal terms, but the story depends heavily on location. Seoul recovered faster because supply is tight and buyer demand is concentrated, while many regional cities still feel the effect of higher financing costs and weaker resale liquidity.
By the way, we’ve written a blog article detailing the latest updates on property price variations in South Korea.
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 South Korea.
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How do prices vary by housing type in South Korea in 2026?
In South Korea in 2026, apartments make up about 65% to 70% of the buyer-visible residential market, low-rise villas and multi-family homes about 14% to 18%, detached homes about 6% to 9%, officetels about 4% to 6%, row houses about 3% to 5%, and luxury homes about 1% to 2%, because apartments are easier to finance, compare, and resell.
As of 2026, apartments in South Korea average about ₩480 million, or $309,000, or €272,000, while low-rise villas average about ₩260 million, or $167,000, or €147,000. Detached houses average about ₩520 million, or $334,000, or €295,000, officetels average about ₩220 million, or $141,000, or €125,000, row houses average about ₩380 million, or $244,000, or €215,000, and luxury apartments or villas often start around ₩2.2 billion, or $1.41 million, or €1.25 million.
If you want to know more, you should read our dedicated analyses:
- How much should you pay for a house in South Korea?
- How much should you pay for lands in South Korea?
How do property prices compare between existing and new homes in South Korea in 2026?
In South Korea in 2026, new-build homes usually sell for about 20% to 35% more than older homes, with about 25% being a reasonable like-for-like estimate.
This premium exists because buyers pay more for modern parking, better insulation, newer elevators, shared amenities, lower repair risk, and stronger resale appeal in the South Korea apartment market.
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How do property prices vary by neighborhood in South Korea in 2026?
In Yongsan, Itaewon, and Hannam in Seoul, buyers usually find high-end apartments, villas, and older low-rise homes, with prices often around ₩1.5 billion to ₩4 billion, or about $964,000 to $2.57 million, or €850,000 to €2.27 million. Prices are high because these districts combine embassies, international schools, central Seoul access, and strong expat demand.
In Mapo, Hongdae, and Gongdeok in Seoul, buyers usually find apartments, officetels, and compact condos, with prices around ₩700 million to ₩1.6 billion, or about $450,000 to $1.03 million, or €397,000 to €907,000. Prices are supported by universities, nightlife, the airport rail, and good access to central business areas.
In Haeundae and Marine City in Busan, buyers usually find high-rise apartments and sea-view condos, with prices around ₩600 million to ₩2 billion, or about $386,000 to $1.29 million, or €340,000 to €1.13 million. Prices are high for Busan because the area has coastal lifestyle appeal, luxury towers, and strong second-city liquidity.
You will find a much more detailed analysis by areas in our property pack about South Korea. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Area in South Korea | Market label | Average price range | Average range per sq m | Average range per sq ft |
|---|---|---|---|---|
| Gangnam-gu, Seoul | Luxury and schools | ₩1.8bn to ₩4.5bn $1.16m to $2.89m |
₩22m to ₩35m $14,100 to $22,500 |
₩2.04m to ₩3.25m $1,313 to $2,090 |
| Seocho-gu, Seoul | Luxury and family | ₩1.6bn to ₩4.0bn $1.03m to $2.57m |
₩20m to ₩32m $12,900 to $20,600 |
₩1.86m to ₩2.97m $1,194 to $1,912 |
| Songpa-gu, Seoul | Family and popular | ₩1.1bn to ₩2.8bn $707k to $1.80m |
₩15m to ₩24m $9,600 to $15,400 |
₩1.39m to ₩2.23m $896 to $1,433 |
| Yongsan-gu, Seoul | Expat and prestige | ₩1.2bn to ₩4.0bn $771k to $2.57m |
₩14m to ₩30m $9,000 to $19,300 |
₩1.30m to ₩2.79m $836 to $1,791 |
| Seongdong-gu, Seoul | Popular and Seoul Forest | ₩900m to ₩2.5bn $578k to $1.61m |
₩12m to ₩22m $7,700 to $14,100 |
₩1.11m to ₩2.04m $716 to $1,313 |
| Mapo-gu, Seoul | Commute and young professionals | ₩700m to ₩1.8bn $450k to $1.16m |
₩10m to ₩18m $6,400 to $11,600 |
₩929k to ₩1.67m $597 to $1,075 |
| Bundang, Seongnam | Family and commute | ₩900m to ₩2.0bn $578k to $1.29m |
₩9m to ₩16m $5,800 to $10,300 |
₩836k to ₩1.49m $537 to $955 |
| Songdo, Incheon | International and planned city | ₩500m to ₩1.2bn $321k to $771k |
₩5m to ₩9m $3,200 to $5,800 |
₩465k to ₩836k $299 to $537 |
| Haeundae, Busan | Coastal and luxury | ₩600m to ₩2.0bn $386k to $1.29m |
₩6m to ₩13m $3,900 to $8,400 |
₩557k to ₩1.21m $358 to $776 |
| Suseong-gu, Daegu | Schools and regional premium | ₩350m to ₩900m $225k to $578k |
₩4m to ₩8m $2,600 to $5,100 |
₩372k to ₩743k $239 to $478 |
| Yuseong-gu, Daejeon | Research and family | ₩350m to ₩850m $225k to $546k |
₩4m to ₩7m $2,600 to $4,500 |
₩372k to ₩650k $239 to $418 |
| Jeonju and Cheongju mid-market districts | Entry and value | ₩150m to ₩450m $96k to $289k |
₩1.8m to ₩4m $1,200 to $2,600 |
₩167k to ₩372k $107 to $239 |
How much more do you pay for properties in South Korea when you include renovation work, taxes, and fees?
In South Korea in 2026, buyers should usually add 6% to 10% to the purchase price if no major renovation is needed, and 12% to 25% if meaningful renovation is needed.
If you buy a property around $200,000 in South Korea, that is about ₩311 million in 2026. A normal extra cost budget would be about ₩20 million to ₩35 million, or about $13,000 to $22,000, so the total cost may land around ₩331 million to ₩346 million, or about $213,000 to $222,000.
If you buy a property around $500,000 in South Korea, that is about ₩778 million in 2026. A normal extra cost budget would be about ₩50 million to ₩85 million, or about $32,000 to $55,000, so the total cost may land around ₩828 million to ₩863 million, or about $532,000 to $555,000.
If you buy a property around $1,000,000 in South Korea, that is about ₩1.56 billion in 2026. A normal extra cost budget would be about ₩110 million to ₩220 million, or about $71,000 to $141,000, so the total cost may land around ₩1.67 billion to ₩1.78 billion, or about $1.07 million to $1.14 million.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in South Korea.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in South Korea
| Extra cost | Type | Estimated cost range in South Korea |
|---|---|---|
| Acquisition tax and local surtaxes | Taxes | Usually about 1% to 3.5% of the purchase price, but the rate can be higher in some cases. On a ₩500 million home, this can mean about ₩5 million to ₩18 million, or about $3,000 to $12,000. The exact amount depends on property value, buyer status, and local rules. |
| Legal, registration, and certificates | Fees | Usually about 0.2% to 0.6% of the purchase price. On a ₩500 million home, this is about ₩1 million to ₩3 million, or about $600 to $2,000. These costs cover registration work, documents, and professional help. |
| Brokerage fee | Fees | Usually about 0.4% to 0.9% of the purchase price, depending on the price band and negotiation. On a ₩500 million property, this can be about ₩2 million to ₩4.5 million, or about $1,300 to $2,900. Brokerage fees are an important cost to confirm before signing. |
| Mortgage setup and bank costs | Financing | Usually 0% to 1% of the purchase price, depending on the loan and bank. On a ₩500 million purchase, this can be up to about ₩5 million, or about $3,000. Foreign buyers should confirm bank access early, because financing rules can differ by profile. |
| Light renovation | Renovation | Usually about ₩5 million to ₩20 million, or about $3,000 to $13,000. This can cover paint, lighting, small repairs, appliances, or basic flooring work. It is common for older villas and smaller apartments. |
| Full apartment renovation | Renovation | Usually about ₩40 million to ₩120 million, or about $26,000 to $77,000. This can include flooring, kitchen, bathroom, insulation, and layout work. The final bill depends heavily on size, building age, and finish quality. |
| Luxury renovation | Renovation | Usually about ₩150 million to ₩500 million or more, or about $96,000 to $321,000 or more. This applies to high-end Seoul apartments, villas, and large homes. Imported materials and custom work can push the budget much higher. |
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 South Korea in 2026 with different budgets?
With $100,000, or about ₩156 million, there is a real market in South Korea in 2026, but mostly outside Seoul: an existing 35 to 45 sq m low-rise villa in an older Daegu district, an existing 45 to 55 sq m apartment in Jeonju or Cheongju, or a small existing officetel in Gwangju or the outskirts of Daejeon.
With $200,000, or about ₩311 million, a buyer in South Korea in 2026 could look at an existing 55 to 70 sq m apartment in Gwangju or Jeonju, an older 45 to 60 sq m low-rise villa in outer Seoul, or an existing 50 to 65 sq m apartment in a non-prime Busan district.
With $300,000, or about ₩467 million, a buyer in South Korea in 2026 could look at an existing 70 to 85 sq m apartment in Daejeon Yuseong, an existing 60 to 75 sq m apartment in Incheon, or an existing 70 to 85 sq m family apartment in an outer pocket of Daegu Suseong.
With $500,000, or about ₩778 million, a buyer in South Korea in 2026 could look at an existing 70 to 85 sq m apartment in Songdo, a family apartment in Suwon or Goyang, or a smaller 45 to 60 sq m existing apartment in Mapo, Seongdong, or the edge of Songpa in Seoul.
With $1,000,000, or about ₩1.56 billion, a buyer in South Korea in 2026 could look at an existing 84 sq m apartment in Mapo-gu or Seongdong-gu, a good family apartment in Bundang, or a premium sea-view apartment in Haeundae, Busan.
With $2,000,000, or about ₩3.11 billion, a buyer in South Korea in 2026 is in the luxury market in most cities, but not unlimited in the top Seoul districts: this budget can target a 100 to 140 sq m prime apartment in Seocho or Songpa, a 120 to 160 sq m high-end home in Yongsan or Hannam, or a large luxury apartment in Haeundae Marine City.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in South Korea.
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 South Korea, 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 and link | Why this source matters | How we used it |
|---|---|---|
| Korea Real Estate Board, R-ONE | This is Korea’s official real estate statistics platform. | We used it as the official backbone for price-index direction in South Korea. We cross-checked this index view with transaction-price sources because an index is not the same as a simple average sale price. |
| MOLIT Actual Transaction Price Disclosure System | This is the official database of reported real estate transactions in South Korea. | We used it as the main reference for actual closed-price logic. We used the system to avoid relying only on listing prices. |
| Public Data Portal, MOLIT actual transaction price data | This source describes the official transaction-price dataset collected under Korea’s reporting law. | We used it to verify that actual prices come from reported transactions. We also used it to support our estimate of the gap between listing prices and final sale prices. |
| KB Real Estate and KB Financial Group Research | KB is one of Korea’s major housing-price and mortgage data providers. | We used KB for market sentiment, price-index direction, and the Seoul versus regional split. We treated KB as a strong private-sector source, not as a replacement for official transaction data. |
| KB monthly housing-market review list | KB publishes recurring housing-market reviews, which helps confirm the timing of 2026 data. | We used the recent reviews as a contemporaneous market read. We used them to support the view that Seoul and the capital region were stronger than many regional markets. |
| DAPT, MOLIT-based apartment transaction aggregator | DAPT is not an official agency, but it states that it is based on MOLIT actual transaction data. | We used DAPT only for practical transaction averages by region and building age. We did not treat it as the main official index. |
| BIS residential property price series via FRED | BIS is a major international source for long-run residential property price indexes. | We used it for the 10-year comparison in South Korea. We cross-checked it against Korean domestic sources because BIS data are quarterly and published with a lag. |
| FRED KRW/USD exchange rate | FRED republishes official Federal Reserve exchange-rate data. | We used it for USD conversions. We used the latest available early-June 2026 reference rate before the article date. |
| ECB KRW/EUR reference rate | The ECB publishes official euro reference exchange rates. | We used it for EUR conversions. We used the 9 June 2026 KRW/EUR reference rate for the article estimates. |
| Statistics Korea and Ministry of Data and Statistics CPI | This is Korea’s official statistics authority for inflation data. | We used it for inflation-adjusted comparisons. We used the latest CPI available at the article date to explain real price movement. |
| Global Property Guide South Korea price history | This source summarizes South Korea housing-market changes in a way that is easy to compare internationally. | We used it as a secondary market summary. We used it to check national and Seoul price growth readings against Korean domestic sources. |
| Trading Economics South Korea housing index | Trading Economics provides a useful summary of the South Korea housing index and its sample structure. | We used it to understand the mix behind the national housing index. We did not use it as the only source for our price estimates. |
| Chosunbiz Seoul apartment market coverage | Chosunbiz is a Korean business news source that follows real estate market changes closely. | We used it as a recent market signal for the Seoul and regional divide. We treated it as context, not as the main transaction source. |
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