South Korea House Prices, Rents & Rental Yields (2026)
How much property costs in South Korea, what it rents for and how that compares with neighbouring markets in Eastern Asia. City-centre prices per m² rank 2 of 5 in this comparison; gross yields rank 5 of 5.
- Apartment price per m² (city centre)
- $11,970
- 2023
- Apartment price per m² (outside centre)
- $8,143
- 2023
- Gross rental yield (city centre)
- 1.2%
- 2024
- Price-to-income ratio
- 19.9
- 2024
- Rent: 1-bedroom, city centre
- $634/mo
- 2023
- Mortgage interest rate (20-year fixed)
- 4.8%
- 2023
Price and rent trends in South Korea
Latest property market indicators
| Indicator | Value | Year | Change | Source |
|---|---|---|---|---|
| Apartment price per m² (city centre)Average asking price per square metre to buy an apartment in city centres | $11,970 | 2023 | -35.9% vs 2022 | Numbeo |
| Apartment price per m² (outside centre)Average price per square metre to buy an apartment outside city centres | $8,143 | 2023 | -25.5% vs 2022 | Numbeo |
| Price-to-income ratioMedian apartment price divided by median annual disposable family income | 19.9 | 2024 | -23.5% vs 2023 | Numbeo |
| Gross rental yield (city centre)Annual rent as a percentage of purchase price, city-centre apartments | 1.2% | 2024 | +0.1 pp vs 2021 | Numbeo |
| Price-to-rent ratio (city centre)Purchase price divided by annual rent, city-centre apartments | 83.3 | 2024 | -12.4% vs 2021 | Numbeo |
| Rent: 1-bedroom, city centreAverage monthly rent of a one-bedroom apartment in the city centre | $634/mo | 2023 | +7.3% vs 2022 | Numbeo |
| Rent: 1-bedroom, outside centreAverage monthly rent of a one-bedroom apartment outside the centre | $403/mo | 2023 | -5.0% vs 2022 | Numbeo |
| Rent: 3-bedroom, city centreAverage monthly rent of a three-bedroom apartment in the city centre | $1,848/mo | 2023 | +1.1% vs 2022 | Numbeo |
| Rent: 3-bedroom, outside centreAverage monthly rent of a three-bedroom apartment outside the centre | $1,079/mo | 2023 | -10.1% vs 2022 | Numbeo |
| Mortgage interest rate (20-year fixed)Average yearly mortgage interest rate, 20-year fixed | 4.8% | 2023 | +1.0 pp vs 2022 | Numbeo |
| Home ownership rateShare of owner-occupied dwellings | 56.2% | 2024 | ±0.0 pp vs 2022 | Trading Economics |
Year-by-year data
| Year | Apartment price per m² (city centre) | Apartment price per m² (outside centre) | Price-to-income ratio | Gross rental yield (city centre) | Price-to-rent ratio (city centre) | Rent: 1-bedroom, city centre | Rent: 1-bedroom, outside centre | Rent: 3-bedroom, city centre | Rent: 3-bedroom, outside centre | Mortgage interest rate (20-year fixed) | Home ownership rate |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | — | — | 19.9 | 1.2% | 83.3 | — | — | — | — | — | 56.2% |
| 2023 | $11,970 | $8,143 | 26 | — | — | $634/mo | $403/mo | $1,848/mo | $1,079/mo | 4.8% | — |
| 2022 | $18,670 | $10,923 | 29.4 | — | — | $591/mo | $424/mo | $1,829/mo | $1,201/mo | 3.8% | 56.2% |
| 2021 | $22,205 | $11,416 | 23.6 | 1.1% | 95.1 | $751/mo | $563/mo | $1,965/mo | $1,306/mo | 2.9% | 56.2% |
| 2020 | $15,349 | $8,253 | 17.4 | 1.5% | 67.3 | $563/mo | $394/mo | $1,531/mo | $753/mo | 3.1% | 56.1% |
| 2019 | $12,613 | $6,284 | 17.6 | 1.4% | 73.7 | $714/mo | $455/mo | $1,746/mo | $1,048/mo | 3.6% | 56.3% |
| 2018 | $13,918 | $6,465 | 14 | 1.8% | 55.7 | $694/mo | $449/mo | $1,882/mo | $1,125/mo | 3.6% | 56.2% |
| 2017 | $10,038 | $6,779 | 12.4 | 2.0% | 49.1 | $694/mo | $431/mo | $1,940/mo | $1,087/mo | 3.7% | 55.9% |
South Korea compared with Eastern Asia
Related
- Properties for sale in South Korea (5,036)
- Mortgages in South Korea for foreigners
- South Korea market overview
- Tax rates in South Korea
Prices, rents, yields and mortgage rates: Numbeo (crowd-sourced, national averages of city data). Values in US dollars.