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
South Korea has one of the most expensive housing markets in Asia, with Seoul apartments averaging over 1.4 billion won (roughly $970,000) while the national average sits near 470 million won ($325,000).
In this guide, we break down what you can realistically buy at every budget level in South Korea, from $100,000 all the way up to luxury territory, using the latest data from January 2026.
We constantly update this blog post to bring you the freshest housing prices and market conditions 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.
What can I realistically buy with $100k in South Korea right now?
Are there any decent properties for $100k in South Korea, or is it all scams?
With $100,000 (around 145 million won or €96,000), you can find legitimate properties in South Korea, but in Seoul this budget will only get you a tiny studio, an old villa unit, or a small officetel in a less central district.
The neighborhoods offering the best value for a $100,000 budget in South Korea include districts like Dobong-gu, Gangbuk-gu, Jungnang-gu, and Nowon-gu in Seoul's northern outskirts, or better yet, satellite cities like Bucheon, Uijeongbu, and Siheung in Gyeonggi Province where your money stretches further.
Buying in popular or upscale areas of Seoul like Gangnam, Seocho, or Yongsan for $100,000 is essentially impossible, since even the smallest apartments in these premium districts typically start at 500 million won or more.
What property types can I afford for $100k in South Korea (studio, land, old house)?
For $100,000 (145 million won) in South Korea, realistic property types include small studios or one-room units called "wonseum," older villa or multi-family units called "billa," small officetels in non-premium locations, or rural land plots in provincial areas far from the capital.
At the $100,000 price point in South Korea, buyers should expect older buildings (often 15 to 30 years old), smaller floor areas (typically under 30 square meters), and units that may need renovation for kitchens, bathrooms, or heating systems.
Among these options, older officetels in transit-connected areas tend to offer the best long-term value at the $100,000 level in South Korea because they combine relatively stable rental demand with easier resale compared to villas, which can be harder to sell.
What's a realistic budget to get a comfortable property in South Korea as of 2026?
As of early 2026, the realistic minimum budget to get a comfortable property in South Korea is around 400 to 500 million won ($275,000 to $345,000 or €265,000 to €330,000), though in Seoul specifically you would need at least 700 million won ($485,000 or €465,000) to reach a similar standard.
Most buyers looking for a comfortable home in South Korea need a budget between 500 million and 900 million won ($345,000 to $620,000 or €330,000 to €595,000), which is where the majority of standard family apartments trade according to transaction data.
In South Korea, "comfortable" generally means a properly sized apartment (around 60 to 85 square meters or 645 to 915 square feet), modern amenities like central heating and cooling, proximity to a subway station, and a building that is less than 20 years old with decent management.
This required budget varies dramatically by neighborhood in South Korea: in Gangnam or Seocho districts of Seoul, comfortable apartments start above 1.5 billion won, while in cities like Incheon's Bupyeong-gu or Gyeonggi's Bucheon, you can reach a similar comfort level for 400 to 600 million won.
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What can I get with a $200k budget in South Korea as of 2026?
What "normal" homes become available at $200k in South Korea as of 2026?
As of early 2026, a $200,000 budget (around 289 million won or €192,000) in South Korea gets you into "normal home" territory in satellite cities and provincial metros, where you can find older one-bedroom or compact two-bedroom apartments, though in Seoul itself this still remains a very tight budget for anything beyond a studio.
At the $200,000 price point, typical sizes in South Korea range from 25 to 45 square meters (270 to 485 square feet) in Seoul's outer districts, while in Incheon or Gyeonggi commuter cities you can expect 35 to 60 square meters (375 to 645 square feet) depending on the building age and exact location.
By the way, we have much more granular data about housing prices in our property pack about South Korea.
What places are the smartest $200k buys in South Korea as of 2026?
As of early 2026, the smartest neighborhoods to buy at $200,000 (289 million won) in South Korea include transit-connected areas in Incheon like Bupyeong-gu and Namdong-gu, and Gyeonggi commuter cities like Bucheon, Anyang, and parts of Gimpo where subway access to Seoul is strong.
These areas are smarter buys compared to other $200,000 options in South Korea because they combine reasonable commute times to Seoul (often under an hour), stable rental demand from workers, and better resale liquidity than more isolated locations at the same price point.
The main growth factor driving value in these smart-buy areas of South Korea is infrastructure improvement, especially the ongoing GTX (Greater Seoul Express) rail expansion that will dramatically reduce commute times and has historically pushed up property values in connected stations.
We have made this infographic to give you a quick and clear snapshot of the property market in South Korea. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
What can I buy with $300k in South Korea in 2026?
What quality upgrade do I get at $300k in South Korea in 2026?
As of early 2026, moving from $200,000 to $300,000 (around 434 million won or €288,000) in South Korea typically upgrades you from "tiny and old" to either a better location closer to a good subway station, more space with a proper one-bedroom or small two-bedroom layout, or a newer building under 15 years old, though rarely all three at once in the Seoul metro area.
A $300,000 budget can buy a property in a newer building in South Korea, but usually only in Incheon, outer Gyeonggi cities, or provincial metros, as Seoul's newer stock typically trades above this price point even for small units.
At the $300,000 level in South Korea, features that typically become available include proper separate bedrooms instead of studio layouts, balcony space, updated kitchen and bathroom finishes, access to building amenities like fitness rooms, and proximity to subway stations within a 10-minute walk.
Can $300k buy a 2-bedroom in South Korea in 2026 in good areas?
As of early 2026, finding a 2-bedroom property for $300,000 (434 million won) in good areas of South Korea is realistic in Incheon and Gyeonggi commuter cities with strong Seoul access, though in Seoul proper a true 2-bedroom at this price would require significant compromises on location or building age.
Specific good areas in South Korea where $300,000 can buy a 2-bedroom include parts of Bupyeong-gu and Seo-gu in Incheon, central Bucheon, parts of Anyang, and emerging areas in Gimpo near the airport railway line.
A $300,000 2-bedroom in South Korea typically offers 50 to 70 square meters (540 to 750 square feet) of living space in these commuter city locations, which is enough for a small family or couple with a home office.
Which places become "accessible" at $300k in South Korea as of 2026?
At the $300,000 price point (434 million won) in South Korea, neighborhoods that become accessible include better-positioned areas in Incheon like parts of Yeonsu-gu (though not prime Songdo), central locations in Bucheon and Anyang, transit hubs in Goyang's Ilsan district, and more central neighborhoods in provincial metros like Daejeon, Daegu, and Busan.
These newly accessible areas are more desirable than lower-budget options in South Korea because they offer direct subway or rail connections to Seoul's major employment centers, better school reputations, more retail and dining options, and generally safer and more established neighborhood environments.
For $300,000 in these newly accessible areas of South Korea, buyers can typically expect a properly sized apartment (55 to 75 square meters) in a building 10 to 20 years old, often in a larger managed complex with parking, security, and basic amenities.
By the way, we've written a blog article detailing what are the current best areas to invest in property in South Korea.
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What does a $500k budget unlock in South Korea in 2026?
What's the typical size and location for $500k in South Korea in 2026?
As of early 2026, a $500,000 budget (around 723 million won or €480,000) in South Korea typically gets you 60 to 85 square meters (645 to 915 square feet) in Seoul's non-premium districts like Nowon, Eunpyeong, or Guro, or a larger 80 to 110 square meter apartment in well-located Incheon or Gyeonggi neighborhoods.
A $500,000 budget can buy a family home with outdoor space in South Korea, but only in suburban Gyeonggi areas or provincial cities where detached houses or townhouses with small yards exist, while in Seoul and dense urban areas outdoor space is rare and expensive at any price.
At $500,000 in South Korea, the typical configuration is a 2-bedroom or compact 3-bedroom apartment with 1 to 2 bathrooms, which comfortably fits a small family and represents the "standard middle-class home" benchmark in the Korean market.
Finally, please note that we cover all the housing price data in South Korea here.
Which "premium" neighborhoods open up at $500k in South Korea in 2026?
At the $500,000 price point (723 million won) in South Korea, premium neighborhoods that open up include better pockets of Mapo-gu and Seongdong-gu in Seoul, higher-quality areas in Songdo and Cheongna in Incheon, and prime central locations in provincial metros like Busan's Haeundae district or Daegu's Suseong-gu.
These neighborhoods are considered premium in South Korea because they feature top-rated school districts, excellent public transit including express lines, walkable retail and dining districts, newer building stock, and reputations as desirable addresses that hold value well.
For $500,000 in these premium neighborhoods of South Korea, buyers can realistically expect a well-maintained 2-bedroom apartment of 55 to 75 square meters in a quality managed complex, though not the largest or newest units in these areas.
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 counts as "luxury" in South Korea in 2026?
At what amount does "luxury" start in South Korea right now?
In South Korea, luxury properties generally start at around 2 billion won ($1.4 million or €1.3 million), which is the entry point for larger apartments in Seoul's most prestigious districts like Gangnam, Seocho, and prime Yongsan.
The specific features that define entry-level luxury real estate in South Korea include prime location in one of Seoul's "big three" districts (Gangnam, Seocho, Songpa), buildings by top-tier developers like Samsung C&T or Hyundai E&C, concierge services, high-end finishes, and floor areas exceeding 100 square meters.
Compared to other major Asian markets, South Korea's luxury threshold is similar to Tokyo but lower than Singapore or Hong Kong, where prime entry points often exceed $2 million, making Seoul's high-end market relatively accessible by regional standards.
The typical price range for mid-tier luxury properties in South Korea runs from 3 billion to 5 billion won ($2.1 million to $3.5 million or €2 million to €3.3 million), while top-tier luxury in the most exclusive complexes reaches 10 billion won or more ($6.9 million or €6.6 million and up).
Which areas are truly high-end in South Korea right now?
The truly high-end neighborhoods in South Korea right now are Gangnam-gu, Seocho-gu, and Songpa-gu (collectively called "Gangnam 3") in Seoul, plus premium pockets of Yongsan-gu near Hannam-dong and select areas of Seongdong-gu like Seongsu-dong which has emerged as a trendy luxury destination.
These areas are considered truly high-end in South Korea because they combine the country's top-ranked schools, headquarters of major corporations (creating executive housing demand), the best retail and dining scenes, excellent transportation including express subway lines, and a concentration of Korea's wealthiest residents.
The typical buyer profile for these high-end areas in South Korea includes senior executives at chaebols (major Korean conglomerates), successful entrepreneurs, medical professionals, celebrity entertainers, and increasingly, wealthy overseas Koreans returning to invest in their home country.
Don't buy the wrong property, in the wrong area of South Korea
Buying real estate is a significant investment. Don't rely solely on your intuition. Gather the right information to make the best decision.
How much does it really cost to buy, beyond the price, in South Korea in 2026?
What are the total closing costs in South Korea in 2026 as a percentage?
As of early 2026, the estimated total closing costs when buying property in South Korea run between 3.5% and 6.5% of the purchase price, with most standard residential transactions falling around 4% to 5%.
The realistic low-to-high percentage range that covers most standard transactions in South Korea is 2.8% for the simplest cases (lower-priced properties with minimal complications) up to 7% or more for higher-value properties or situations involving additional surcharges.
The specific fee categories that most commonly make up these closing costs in South Korea include acquisition tax (the largest component at 1% to 3% for housing), local education tax and special rural development tax as surtaxes, registration fees, stamp duty, and brokerage commission which is legally capped based on the property price.
To avoid hidden costs and bad surprises, you can check our our pack covering the property buying process in South Korea.
How much are notary, registration, and legal fees in South Korea in 2026?
As of early 2026, combined notary, registration, and legal fees in South Korea typically cost between 500,000 and 2,000,000 won ($350 to $1,400 or €330 to €1,350) for a standard residential purchase, though this can increase for complex transactions or when using attorney support.
These fees typically represent 0.1% to 0.5% of the property price in South Korea, making them a relatively small portion of total closing costs compared to acquisition tax.
Among these three fee types in South Korea, registration fees (paid to the court registry for recording ownership transfer) are usually the most expensive component, while notary costs are minimal since Korea does not have the heavy notary tradition found in some European civil law systems.
What annual property taxes should I expect in South Korea in 2026?
As of early 2026, a typical annual property tax for a standard owner-occupied home in South Korea is 0.15% to 0.35% of the property's market value, which translates to roughly 500,000 to 2,000,000 won ($350 to $1,400 or €330 to €1,350) for a mid-range apartment.
Annual property taxes in South Korea typically represent well under 1% of the property's market value for most ordinary homeowners, making them relatively low compared to many Western countries.
Property taxes in South Korea vary based on property type and location: high-value properties above 900 million won (or 1.2 billion won for sole owners) trigger an additional national Comprehensive Real Estate Holding Tax on top of local property tax, while luxury homes in premium Seoul districts face higher assessment values and rates.
There are exemptions and reductions available in South Korea, including lower rates for first-time homebuyers in certain programs and reduced assessments for long-term resident owners, though most standard buyers will pay the baseline rates.
You can find the list of all property taxes, costs and fees when buying in South Korea here.
Is mortgage a viable option for foreigners in South Korea right now?
Obtaining a mortgage as a foreigner in South Korea is possible but significantly more difficult than for Korean nationals, with approval depending heavily on your residency status, documented local income, and the bank's risk assessment of foreign applicants.
Typical loan-to-value ratios for foreign buyers in South Korea range from 40% to 60% (compared to 50% to 70% for Koreans), and interest rates currently sit around 3.8% to 5.2% as of early 2026, with foreigners often quoted at the higher end of this range.
Foreign buyers in South Korea typically need an Alien Registration Card, proof of stable local income (Korean employment contract or business registration), a Korean bank account with transaction history, and full documentation of the overseas fund source compliant with foreign exchange regulations.
By the way, we also have a blog article detailing whether owning an Airbnb rental is profitable 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.
What should I predict for resale and growth in South Korea in 2026?
What property types resell fastest in South Korea in 2026?
As of early 2026, the property types that resell fastest in South Korea are mainstream apartments (called "apateu") in large managed complexes, especially those within a 5 to 10 minute walk of a subway station and sized between 60 and 85 square meters.
The typical time on market to sell a property in South Korea is 1 to 3 months for well-priced apartments in liquid areas like Seoul and major commuter hubs, while villas, officetels, and properties in less connected locations often take 3 to 6 months or longer.
In South Korea specifically, apartments resell faster because the market heavily favors this property type due to standardized building management, predictable maintenance, transparent pricing through official transaction databases, and strong cultural preference for apartment living among Korean families.
The property types that tend to be slowest to resell in South Korea are older villas (multi-family walk-ups) which suffer from stigma compared to apartments, rural detached houses with car dependency, and non-standard officetels in oversupplied buildings with weak rental demand.
If you're interested, we cover all the best exit strategies in our real estate pack about South Korea.
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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 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 Name | Why It's Authoritative | How We Used It |
|---|---|---|
| Bank of Korea (ECOS) | South Korea's official central bank statistics portal | We used ECOS to anchor the USD/KRW exchange rate for budget conversions. We also verified macro conditions around housing and lending. |
| KOSIS (Korea Statistical Information Service) | The official national statistics portal run by the Korean government | We used KOSIS as a baseline for new apartment sale prices and housing stock composition. We triangulated these figures with other official indicators. |
| MOLIT Real Transaction Price System | The government's official platform for reported real transaction prices | We used MOLIT as the "ground truth" for what properties actually trade at versus asking prices. We recommend buyers check this before any purchase. |
| Korea Real Estate Board (REB) | An official, legally grounded national housing price survey | We used REB to understand broad price direction and momentum through their weekly and monthly trend measures. We relied on this for market-wide context. |
| National Law Information Center | Korea's official legal text portal for tax law | We used this to anchor acquisition tax rates and understand the legal basis for closing costs. We translated these into practical estimates for buyers. |
| Seoul Metropolitan Government | The city government's official explanation of legally capped brokerage fees | We used this to give readers a reliable way to estimate agent fees by price bracket. We also used it to flag when a quote exceeds the legal maximum. |
| Invest Korea (KOTRA) | The national investment promotion agency summarizing market rules | We used this to cross-check brokerage fee caps and understand procedures for foreign buyers. We treated it as official government guidance. |
| KB Financial Group Research | A major bank with widely cited housing research and regular releases | We used KB's reports as a private-sector cross-check on market direction and buyer segmentation. We do not treat it as law but as useful market intelligence. |
| FRED (Federal Reserve Economic Data) | A reputable, transparent macro dataset for exchange rates | We used FRED to verify early 2026 USD/KRW levels. We then applied a consistent working rate to convert dollar budgets into Korean won buying power. |
| PwC Korea Tax Summaries | A globally trusted professional services firm's tax documentation | We used PwC's summaries to validate acquisition tax, property tax, and holding tax rate structures. We cross-referenced these with official legal 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.