House Prices in South Korea 2025: What You Need to Know Before Buying

South Korea, the country famous for K-pop, Korean dramas, and advanced technology, has become a dream destination for many, whether for vacation or long-term living. However, owning a home in South Korea is not easy due to the relatively high property prices, especially in major cities like Seoul.

Let’s take a look at the latest house price listings in various cities across South Korea for 2025. Read on to the end!

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House Prices in South Korean on Various Cities (2025)

Here are the estimated house and apartment prices in several major South Korean cities based on the latest data. Prices vary depending on location, property type, and offered amenities. The exchange rate used is 1 KRW = IDR 11.5 (2025 estimate).

1. Seoul

Seoul is considered the economic, cultural, and political center of South Korea, so property prices here are extremely high. In 2025, the average house price for a modest single-family home is estimated at 341 million KRW (around IDR 3.9 billion), with much higher prices in upscale areas like Gangnam or Hannam-dong.

• 1-bedroom apartment in the city center: KRW 800,000–1.5 million per month for rent (IDR 9.4–17.7 million) or KRW 300 million–1 billion to buy (IDR 3.45–11.5 billion).
• Single-family home in suburbs: KRW 100–500 million (IDR 1.15–5.75 billion).
• Elite areas (Gangnam, Cheongdam-dong): Home prices here can exceed 4 million USD (around IDR 45 billion). For example, actor Jang Geun Suk’s house in Gangnam includes a private theater and café.

For a more affordable option, consider apartments in the outskirts of Seoul like Gyeonggi-do, where rent ranges from KRW 500,000–1 million per month.

2. Busan

Busan, South Korea’s largest port city, offers lower property prices than Seoul. It’s ideal for those who enjoy beach views and a more relaxed atmosphere.

• 1-bedroom apartment in the city center: Rent ranges from KRW 600,000–1.2 million per month (IDR 6.9–13.8 million). Purchase starts from KRW 200 million (IDR 2.3 billion).
• Single-family home: Prices range from KRW 80–400 million (IDR 920 million–4.6 billion), depending on location and size.

For better value, look for property in Haeundae for stunning beach views, or in suburbs like Sasang for cheaper prices.

3. Incheon

Incheon, known for its international airport, offers more affordable housing compared to Seoul but is still strategic due to its proximity to the capital.

• 1-bedroom apartment: Rent ranges from KRW 500,000–1 million per month (IDR 5.75–11.5 million). Purchase starts from KRW 150 million (IDR 1.73 billion).
• Single-family home: KRW 70–350 million (IDR 805 million–4.03 billion).

Also consider Songdo, a free economic zone with modern facilities and competitive prices.

4. Daegu

Daegu is a growing city with a lower cost of living. Properties here are suitable for families or retirees.

• 1-bedroom apartment: Rent KRW 400,000–800,000 per month (IDR 4.6–9.2 million). Purchase starts from KRW 120 million (IDR 1.38 billion).
• Single-family home: KRW 60–300 million (IDR 690 million–3.45 billion).

Look for properties near universities or downtown for better access to public facilities.

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Factors to Consider When Buying a House

1. High Deposit: In South Korea, renting or buying often requires a large deposit, from KRW 3 million (IDR 34.5 million) to tens of millions, refundable after the lease ends.
2. Utility Costs: Water, electricity, and gas are not always included in rent. Average monthly utility cost for one person in Seoul is about KRW 40,000 (IDR 453,400).
3. Security and Amenities: Check for CCTV, AC, washer, and internet. Security is crucial, especially in big cities.
4. Building Condition: New homes are more expensive but usually in better condition than second-hand properties.

Apartment vs. House: Which One Suits You Better?

In South Korea, apartments are more popular than single-family homes due to affordability and strategic location. Apartments often include facilities like gyms, pools, or multipurpose rooms. However, if you prefer more privacy, a house on the outskirts may suit you—just be prepared for higher maintenance costs, especially in winter due to heating.

Also read: What is the G to G Korea Program?

Budget-Friendly Tips for Living in South Korea

• Choose dormitories (gisuksa) if you’re a student—rent ranges from KRW 350,000–900,000/month (IDR 3.97–10.2 million) with no deposit.
• Live in a hasukjib (boarding house) for a homier feel and included meals, starting at KRW 1 million/month.
• Use real estate apps like Dabang or Zigbang to find the best property deals.

Owning a house in South Korea requires a large budget, especially in big cities like Seoul and Busan. However, with careful planning, you can find properties that meet your needs and budget. From modern city-center apartments to suburban single-family homes, the options in South Korea are diverse. Always check the facilities, location, and extra costs before making a decision. So, are you ready to fulfill your dream of owning a house in the Land of Morning Calm?