Authored by the expert who managed and guided the team behind the South Korea Property Pack
Everything you need to know before buying real estate is included in our South Korea Property Pack
This guide breaks down house prices in South Korea in 2026, covering everything from median prices to neighborhood comparisons and hidden costs.
We update this article regularly to reflect the latest market data and trends in the South Korean housing 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 South Korea.
How much do houses cost in South Korea as of 2026?
What's the median and average house price in South Korea as of 2026?
As of early 2026, the median house price in South Korea sits around ₩420 million (about $290,000 or €275,000), while the average climbs to roughly ₩620 million ($430,000 or €405,000) because expensive Seoul properties pull the number up.
The typical price range that covers around 80% of detached house sales in South Korea falls between ₩250 million and ₩700 million ($170,000 to $480,000, or €160,000 to €455,000), which reflects everything from modest rural homes to mid-tier properties in satellite cities.
That gap between the median and average in South Korea tells you that a small number of very expensive houses, especially land-heavy properties in Seoul, are skewing the average upward, so the median gives you a more realistic picture of what most buyers actually pay.
At the median price of ₩420 million in South Korea, a buyer can typically expect an older detached house with 2 to 3 bedrooms in a smaller city or in the outer suburbs of the capital region, often requiring some renovation work.
What's the cheapest livable house budget in South Korea as of 2026?
As of early 2026, the minimum budget for a livable detached house in South Korea starts around ₩120 million ($83,000 or €78,000) in smaller cities and rural areas, while the entry point near Seoul sits closer to ₩350 million ($240,000 or €230,000).
At this entry-level price point in South Korea, "livable" typically means an older house that functions but needs cosmetic updates, basic wiring checks, and possibly insulation improvements, since these properties were often built decades ago with different standards.
The cheapest livable houses in South Korea are usually found in cities like Busan, Daegu, or Gwangju for the ₩150 million to ₩400 million range, or in outer Seoul districts like Dobong-gu, Nowon-gu, and Jungnang-gu for the ₩350 million to ₩550 million range.
Wondering what you can get? We cover all the buying opportunities at different budget levels in South Korea here.
How much do 2 and 3-bedroom houses cost in South Korea as of 2026?
As of early 2026, 2-bedroom detached houses in South Korea typically cost between ₩220 million and ₩450 million ($150,000 to $310,000, or €145,000 to €295,000), while 3-bedroom houses range from ₩350 million to ₩550 million ($240,000 to $380,000, or €230,000 to €360,000) nationwide.
For a 2-bedroom house in South Korea, the realistic price range spans from ₩180 million ($125,000 or €118,000) in smaller cities to ₩650 million ($450,000 or €425,000) in Seoul's outer districts.
For a 3-bedroom house in South Korea, buyers should expect to pay between ₩280 million ($195,000 or €185,000) in regional areas and up to ₩1.4 billion ($965,000 or €915,000) in central Seoul neighborhoods.
The typical price premium when upgrading from a 2-bedroom to a 3-bedroom house in South Korea runs about 30% to 50%, though this gap widens significantly in Seoul where extra space on scarce land commands a steeper premium.
How much do 4-bedroom houses cost in South Korea as of 2026?
As of early 2026, a 4-bedroom detached house in South Korea typically costs between ₩450 million and ₩1.1 billion ($310,000 to $760,000, or €295,000 to €720,000) nationwide, with Seoul prices ranging from ₩1.2 billion to ₩3 billion ($830,000 to $2.1 million, or €785,000 to €2 million).
For a 5-bedroom house in South Korea, the realistic price range runs from ₩750 million to ₩1.8 billion ($520,000 to $1.24 million, or €490,000 to €1.18 million) nationwide, and from ₩2 billion to ₩5 billion ($1.4 million to $3.5 million, or €1.3 million to €3.3 million) in Seoul.
For a 6-bedroom house in South Korea, prices typically start around ₩1.2 billion ($830,000 or €785,000) in regional areas and can exceed ₩6 billion ($4.1 million or €3.9 million) in prime Seoul districts where large plots are extremely rare.
Please note that we give much more detailed data in our pack about the property market in South Korea.
How much do new-build houses cost in South Korea as of 2026?
As of early 2026, a new-build detached house in South Korea typically costs between ₩550 million and ₩1.3 billion ($380,000 to $900,000, or €360,000 to €850,000) nationwide, while new-builds in Seoul and nearby areas range from ₩1.6 billion to ₩4 billion ($1.1 million to $2.76 million, or €1.05 million to €2.6 million).
New-build houses in South Korea carry a typical premium of 15% to 35% compared to older resale houses, with the higher end of that range applying to desirable Seoul-adjacent areas where buyers pay extra for turnkey condition, modern energy efficiency, and clean documentation.
How much do houses with land cost in South Korea as of 2026?
As of early 2026, a detached house with meaningful land in South Korea typically costs between ₩180 million and ₩500 million ($125,000 to $345,000, or €118,000 to €325,000) in smaller cities, ₩450 million to ₩1.2 billion ($310,000 to $830,000, or €295,000 to €785,000) in the capital region, and ₩1.5 billion to ₩6 billion ($1 million to $4.1 million, or €950,000 to €3.9 million) in Seoul.
In South Korea, a "house with land" typically means a property with a noticeable yard, dedicated parking space, or rebuild potential, which usually starts at around 200 square meters of plot size in urban areas and can exceed 500 square meters in suburban or rural locations.
We cover everything there is to know about land prices in South Korea here.
Thinking of buying real estate in South Korea?
Acquiring property in a different country is a complex task. Don't fall into common traps – grab our guide and make better decisions.
Where are houses cheapest and most expensive in South Korea as of 2026?
Which neighborhoods have the lowest house prices in South Korea as of 2026?
As of early 2026, the Seoul neighborhoods with the lowest detached house prices include Dobong-gu (Banghak-dong, Ssangmun-dong), Nowon-gu (Sanggye-dong), Jungnang-gu (Myeonmok-dong), Geumcheon-gu (Siheung-dong), and Guro-gu (Gaebong-dong, Gocheok-dong).
In these more affordable Seoul districts, typical detached house prices range from ₩450 million to ₩900 million ($310,000 to $620,000, or €295,000 to €590,000), while houses outside Seoul in cities like Busan, Daegu, or Gwangju can fall into the ₩150 million to ₩400 million range ($100,000 to $275,000, or €95,000 to €260,000).
The main reason these neighborhoods have lower house prices in South Korea is their distance from premium job clusters in Gangnam and the central business district, combined with weaker school catchment reputations that drive Korean family purchasing decisions.
Which neighborhoods have the highest house prices in South Korea as of 2026?
As of early 2026, the top three Seoul neighborhoods with the highest detached house prices are Gangnam-gu (Apgujeong-dong, Daechi-dong, Samseong-dong), Seocho-gu (Banpo-dong, Seorae Village), and Yongsan-gu (Hannam-dong, UN Village, Itaewon-dong).
In these premium Seoul neighborhoods, typical detached house prices range from ₩2 billion to ₩6 billion ($1.4 million to $4.1 million, or €1.3 million to €3.9 million), with exceptional properties exceeding these figures significantly.
The main reason these neighborhoods command the highest house prices in South Korea is their combination of top-ranked school catchments like the Gangnam 8 School District, proximity to headquarters of major conglomerates, and extreme land scarcity that makes redevelopment rights highly valuable.
The typical buyers in these premium South Korean neighborhoods include senior executives at chaebols (Korean conglomerates), successful business owners, high-profile professionals, and foreign diplomats or executives who need proximity to embassies and international business hubs.
How much do houses cost near the city center in South Korea as of 2026?
As of early 2026, a detached house near Seoul's city center (Jung-gu and Jongno-gu) typically costs between ₩1.3 billion and ₩4 billion ($900,000 to $2.76 million, or €850,000 to €2.6 million), though stock is limited since many central properties are land-value investments rather than traditional homes.
Houses near major transit hubs in South Korea, such as the Seoul Station area (Jung-gu and Yongsan edges) or Gangnam Station corridor, range from ₩1.2 billion to ₩6 billion ($830,000 to $4.1 million, or €785,000 to €3.9 million) depending on exact location.
Houses near top-rated international schools in South Korea, such as Seoul Foreign School in Yeonhui-dong (₩1.4 billion to ₩3.5 billion), Dulwich College Seoul in Seodaemun-gu (₩1.2 billion to ₩3 billion), Korea International School near Pangyo (₩900 million to ₩2.5 billion), and Chadwick International in Songdo (₩700 million to ₩2 billion), command significant premiums.
Houses in expat-popular areas of South Korea, including Hannam-dong and UN Village in Yongsan-gu (₩2 billion to ₩6 billion), Seorae Village in Banpo-dong (₩2.5 billion to ₩7 billion), and Yeonhui-dong near SFS (₩1.4 billion to ₩3.5 billion), reflect both international amenities and embassy zone proximity.
We actually have an updated expat guide for South Korea here.
How much do houses cost in the suburbs in South Korea as of 2026?
As of early 2026, a detached house in the suburbs of Seoul (Gyeonggi-do satellite cities) typically costs between ₩500 million and ₩2 billion ($345,000 to $1.4 million, or €325,000 to €1.3 million), depending on transit access and neighborhood reputation.
Suburban houses in South Korea typically cost 30% to 50% less than equivalent properties in central Seoul, translating to savings of ₩400 million to ₩800 million ($275,000 to $550,000, or €260,000 to €520,000) for a comparable 3-bedroom home.
The most popular suburbs for house buyers in South Korea include Bundang and Pangyo in Seongnam (₩900 million to ₩2.5 billion), Gwacheon (₩1 billion to ₩3 billion), Hanam (₩700 million to ₩2 billion), Ilsan in Goyang (₩600 million to ₩1.6 billion), Suwon (₩500 million to ₩1.4 billion), and Songdo in Incheon (₩700 million to ₩2 billion).
What areas in South Korea are improving and still affordable as of 2026?
As of early 2026, the top improving yet still affordable areas for house buyers in South Korea include Dobong-gu and Nowon-gu in northern Seoul (particularly Chang-dong and Sanggye-dong areas), Guro-gu and Geumcheon-gu in southwestern Seoul, and Hanam and parts of Goyang in the near-Seoul suburbs.
In these improving but affordable areas, typical detached house prices currently range from ₩450 million to ₩900 million ($310,000 to $620,000, or €295,000 to €590,000) in Seoul and ₩400 million to ₩800 million ($275,000 to $550,000, or €260,000 to €520,000) in nearby Gyeonggi suburbs.
The main sign of improvement driving buyer interest in these South Korean areas is the expansion of subway lines and transit connections, combined with announced redevelopment projects that will replace aging low-rise housing with modern infrastructure over the next 5 to 10 years.
By the way, we've written a blog article detailing what are the current best areas to invest in property in South Korea.
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 extra costs should I budget for a house in South Korea right now?
What are typical buyer closing costs for houses in South Korea right now?
Typical total closing costs for house buyers in South Korea run between 3% and 8% of the purchase price, depending on property value and your specific situation.
The main closing cost categories in South Korea include brokerage fees (up to 0.3% to 0.6% depending on price tier), acquisition tax and local surcharges (the biggest chunk, varying by property value and number of homes owned), and registration and administrative fees (smaller but unavoidable).
The largest single closing cost for house buyers in South Korea is usually acquisition tax combined with local education and rural development surcharges, which together can amount to 1% to 4% of the purchase price depending on the home's value and whether you own other properties.
We cover all these costs and what are the strategies to minimize them in our property pack about South Korea.
How much are property taxes on houses in South Korea right now?
Typical annual property tax for a non-ultra-prime owner-occupied detached house in South Korea runs about 0.15% to 0.5% of assessed value, which for a ₩500 million home means roughly ₩750,000 to ₩2.5 million per year ($520 to $1,700, or €490 to €1,600), paid in installments.
Property tax in South Korea is calculated on the assessed value (not purchase price) and consists of two layers: a local property tax levied by your district, plus a comprehensive real estate holding tax that kicks in for higher-value holdings, with rates increasing as total property holdings rise.
If you want to go into more details, we also have a page with all the property taxes and fees in South Korea.
How much is home insurance for a house in South Korea right now?
Typical annual home insurance for a detached house in South Korea ranges from ₩150,000 to ₩450,000 ($100 to $310, or €95 to €295) for basic fire and liability coverage, and from ₩400,000 to ₩1.2 million ($275 to $830, or €260 to €785) for broader coverage with higher rebuild values.
The main factors affecting home insurance premiums for houses in South Korea include the property's rebuild cost, construction type (wood versus concrete), location risk factors, and the breadth of coverage you choose beyond basic fire protection.
What are typical utility costs for a house in South Korea right now?
Typical total monthly utility costs for a detached house in South Korea range from ₩160,000 to ₩490,000 ($110 to $340, or €105 to €320), with significant seasonal variation since heating drives winter bills much higher.
The breakdown of main utilities for houses in South Korea includes electricity at ₩60,000 to ₩180,000 per month ($40 to $125), gas for heating and hot water at ₩80,000 to ₩250,000 per month ($55 to $170), and water at ₩20,000 to ₩60,000 per month ($15 to $40), with winter gas bills often exceeding these ranges in drafty older houses.
What are common hidden costs when buying a house in South Korea right now?
Common hidden costs that house buyers in South Korea often overlook can total ₩5 million to ₩30 million ($3,500 to $20,000, or €3,300 to €19,000) or more, covering everything from necessary renovations to documentation and professional inspections.
Professional inspection fees for a detached house in South Korea typically run ₩300,000 to ₩900,000 ($200 to $620, or €190 to €590) for a basic condition check, with specialist add-ons for structure, roof, or moisture assessment adding another ₩200,000 to ₩800,000 ($140 to $550, or €130 to €520).
Beyond inspections, other common hidden costs when buying a house in South Korea include renovation needs (wiring, insulation, roofing, waterproofing), heating system or boiler replacement, boundary and access issues with private roads, and document translation or legal assistance for foreign buyers.
The hidden cost that tends to surprise first-time house buyers most in South Korea is the extent of renovation required in older detached homes, especially boiler replacement (often ₩2 million to ₩5 million) and addressing moisture or drainage issues that were not obvious during viewing.
You will find here the list of classic mistakes people make when buying a property in South Korea.
Get fresh and reliable information about the market in South Korea
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What do locals and expats say about the market in South Korea as of 2026?
Do people think houses are overpriced in South Korea as of 2026?
As of early 2026, many locals and expats in Seoul describe detached houses as feeling "overpriced" because they're essentially paying for land value rather than the building itself, though demand from buyers seeking redevelopment potential keeps prices firm.
Detached houses in South Korea typically stay on the market for 1 to 3 months in prime Seoul districts if priced realistically, while non-prime or older houses requiring significant renovation often sit for 3 to 6 months or longer.
The main reason locals give for feeling house prices are high in South Korea is the extreme concentration of jobs, top schools, and infrastructure in Seoul, which forces families to compete for limited detached housing stock in desirable catchment areas.
Compared to one or two years ago, sentiment on house prices in South Korea has shifted from "wait for a correction" to "prices aren't dropping meaningfully," with many prospective buyers accepting that Seoul detached houses operate more like land investments than traditional home purchases.
You'll find our latest property market analysis about South Korea here.
Are prices still rising or cooling in South Korea as of 2026?
As of early 2026, house prices in South Korea are mixed to mildly up nationally, with Seoul and the capital region showing continued strength for detached houses while some regional markets remain flat.
Year-over-year house price changes in South Korea have been in the low single digits for detached houses, with Seoul showing modest increases while smaller cities have seen more varied results depending on local economic conditions.
Experts and locals expect house prices in South Korea to remain stable to slightly rising over the next 6 to 12 months, particularly in Seoul where land scarcity, redevelopment potential, and strong school catchment demand continue to support detached house valuations.
Finally, please note that we have covered property price trends and forecasts for South Korea here.
We created this infographic to give you a simple idea of how much it costs to buy property in different parts of South Korea. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.
What 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 | Why It's Authoritative | How We Used It |
|---|---|---|
| Korea Real Estate Board (REB) | Official national body running Korea's house price survey under the Housing Act. | We used it to ensure our detached house definitions match official standards. We also verified our estimates align with official trend directions. |
| KB Kookmin Bank via Maeil Business | Major bank's long-running housing survey with specific detached house data. | We used Seoul's detached house average (₩1.19B) as our primary numeric anchor. We built all Seoul estimates around this credible figure. |
| MOLIT Real Transaction Price System | Ministry of Land's official platform for legally reported transaction prices. | We treated this as "ground truth" for what buyers actually pay. We cross-referenced our ranges against official transaction statistics. |
| InvestKOREA Tax Guide | Government's official investment portal summarizing property taxes. | We used it to structure acquisition, holding, and sale tax categories. We translated their framework into buyer-friendly cost estimates. |
| Seoul Metropolitan Government | City government explaining legally capped brokerage rates. | We used it to quantify agent commission caps by price tier. We converted fee percentages into actual won amounts for common prices. |
| KEPCO Electric Rates | National utility publishing official electricity tariff tables. | We used it to show electricity is tariff-based and tiered. We built realistic monthly budget ranges from their rate structure. |
| Bank of Korea | Central bank explaining exchange rate formation and current conditions. | We used it to justify our ₩1,450 per $1 conversion rate. We kept foreign exchange conversions as rounded guidance. |
| FRED (BIS Series) | Widely used database distributing international residential price indices. | We used it to cross-check Korea's broad national price cycle. We relied on it for direction and context rather than exact levels. |
| Seoul Open Data Portal | Government open data with structured transaction records. | We validated Seoul has downloadable transaction data by property type. We used it for triangulation on district-level pricing. |
| Korea Times (KOGAS Rates) | Major national newspaper citing official utility pricing statements. | We used it as a reference point for household gas pricing. We translated won per MJ into realistic monthly bill ranges. |
Get to know the market before buying a property in South Korea
Better information leads to better decisions. Get all the data you need before investing a large amount of money. Download our guide.