Guide to Buying Property in Korea 2026 : Trends, Prices, and New Rules

📋 Table of Contents

Have you ever wondered what the Korean housing market is really like? It’s something that affects so many people, from young professionals looking for their first home to families planning for the future. We often hear about soaring prices or changing regulations, and it can feel a bit overwhelming, right?

Well, I’ve looked into the latest data and trends to help us all understand what’s happening, especially as we head into 2026. From apartment dominance to significant price gaps and even upcoming supply changes, there’s a lot to unpack. Let’s dive in and explore the ins and outs of Korean housing together!

Understanding Korean Housing: Types and Dominance

When we talk about Korean housing, it’s not just one type of building. There are actually several main categories that make up the residential landscape. Knowing these helps us understand how people live and where the market is headed.

The primary types are apartments, single-family homes, multi-family homes (like Dasaedae and Yeonlip). What’s really striking is how much one type dominates the others, especially in recent years.

Data from 2022 confirms that apartments hold the largest share of the total housing stock, even when including vacant homes. This trend isn’t new; since 2010, apartments have consistently been the most numerous, followed by single-family homes and then multi-family Dasaedae homes. It seems like the apartment lifestyle is increasingly preferred and supplied across the country. You can find more detailed statistics on various housing types from official sources like KOSIS e-나라지표.

The Apartment Era: Ownership and Market Trends

A young Korean woman proudly holding keys in front of a modern apartment complex.

The data clearly shows that apartments aren’t just one type of housing; they are *the* dominant type in Korea. By 2023, while the overall housing supply rate was quite high, apartments accounted for the vast majority of owned properties. In fact, if you look at new constructions between 2018 and 2023, apartments were built far more frequently than other housing types.

It’s almost as if the Korean housing market has become synonymous with apartments. Statistics from KOSIS from 2013 to 2023 consistently show apartments making up the bulk of all homes, even in terms of total floor area. This concentration is particularly evident in the Seoul Metropolitan Area (수도권), where apartment ownership is highly centralized. Despite these trends, the overall housing ownership rate has remained quite stable between 2016 and 2023.

This strong focus on apartments certainly shapes the entire Korean housing market. It influences everything from urban planning to individual financial decisions. If you’re interested in the specifics of housing supply and ownership, you can check out the KOSIS housing statistics.

The Price Divide: Seoul vs. Regional Home Values

Let’s talk about prices, because this is where the real differences become apparent across Korea. When we look at the average home values, especially by the end of 2025, there’s a huge gap between Seoul and other regions. It’s a bit shocking, actually!

The average selling price for a home in Seoul was around 981.47 million KRW (approximately 1,243 KRW per square meter). This is incredibly high when you compare it to the national average of 429.6 million KRW, or even more starkly, to the regional average of 238.32 million KRW. Basically, a home in Seoul can be worth more than twice the national average, and four times the average in other provinces!

Seoul’s median price was about 739.58 million KRW, while other major cities like Sejong (520.15 million KRW) and Gyeonggi (490.58 million KRW) also had high prices. But if you look at Jeonnam, the average was a mere 138.91 million KRW. This means that one home in Seoul could literally buy seven homes in Jeonnam! This huge disparity is definitely something to consider when you’re looking at the Korean housing market.

What’s more, Seoul’s home prices continued to climb, increasing by 13.19% from 2025 to 2026. In January 2026, the apartment sales price index in Seoul showed a 1.07% change, which was the highest in the nation. Meanwhile, the Seoul Metropolitan Area’s apartment prices rose by 2.0% in 2025, in stark contrast to other regions, which actually saw a 1.7% decrease. This really highlights the bifurcation of the market. Even monthly rent in Seoul averaged 1.22 million KRW. You can see more details on these trends at G-ENews.

2026 Housing Forecast: A Looming Supply Cliff

A Korean family looking at a city skyline with new apartment buildings, contemplating future housing.

Now, let’s talk about something really important for the future: housing supply. The number of new apartments expected to be completed and ready for move-in in 2026 is actually quite concerning, especially for certain areas. This could have a big impact on prices and availability.

Nationwide, the projected supply for 2026 is around 172,270 units across 255 complexes. This marks a significant 28% drop compared to 2025 (which saw 238,372 units). Some estimates, like those from Real Estate R114, put the numbers slightly higher but still show a substantial decrease. For example, the Seoul Metropolitan Area (수도권) is expected to have 81,534 units, a 27% reduction. But the real “supply cliff” is anticipated in Seoul itself.

Seoul’s projected supply for 2026 is just 16,412 units, which is a massive 48% decrease from 2025. This means there will be far fewer new homes available, intensifying the supply shortage. Even though there are government plans to provide 1.35 million new homes in the Seoul Metropolitan Area by 2030, this immediate drop in 2026 could create serious challenges for homebuyers. This situation is further complicated by the affordability gap; the average household net assets are around 440 million KRW, while the median home price in Seoul is about 1.06 billion KRW. For more insights on the 2026 outlook, you can refer to the RICON report.

Regional Spotlights: Gwangju’s Unique Supply Story

While Seoul faces a “supply cliff,” some regional areas are seeing quite different trends. It’s really interesting to see how the housing market can vary so much from one city to another, even within the same country. Let’s take a look at some of the areas with higher projected supplies for 2026.

For instance, Busan is expecting a significant 14,465 units. But what really stands out is Gwangju, which is projected to have 11,583 new units, almost double its 2025 supply! Other regions like Chungnam (10,294 units), Daegu (9,069 units), Gangwon (7,855 units), Gyeongnam (7,245 units), and Daejeon (6,079 units) also have substantial planned supplies.

This surge in Gwangju’s supply, especially after a lower supply in 2025, makes it a unique case. Such a significant increase in new homes could lead to an “oversupply” situation in the local market, potentially affecting prices and rental rates differently than in Seoul. The specific projects listed above are just some examples of the large-scale developments contributing to this trend. This kind of regional difference is crucial to observe when understanding the overall Korean housing landscape. For more information on Gwangju’s supply, you can check out iKBC’s report.

Navigating Tomorrow: What to Expect in the Korean Housing Market

So, what does all this mean for the future of the Korean housing market? Looking ahead to 2026, the overall picture suggests a continuation of current trends, with some important shifts to keep an eye on. The supply decreases, especially in Seoul, are likely to be a major driving force.

Experts predict that the housing market in 2026 will likely see prices continue to rise, particularly in Seoul, due to the anticipated supply shortage. For example, the apartment sales price index for July 2025 across the nation showed a 0.15% increase, while the real transaction price index for multi-family housing rose by 1.14% in June. This contrasts with office-tel prices, which saw a slight decrease. It really indicates that the residential market, especially apartments, remains robust.

The disparities between regions will likely become even more pronounced. Areas with lower supply and higher demand, like Seoul, are expected to continue seeing price increases, while areas with higher supply or lower demand might stabilize or even see slight adjustments. The significant concentration of national net assets in residential properties (73.1% in 2023) also means that changes in the housing market have a profound impact on overall household wealth. Navigating this complex market will require careful consideration of both national and local trends. Always remember that real estate investments carry risks, and individual circumstances can vary greatly; it’s always wise to consult official sources for the latest data and professional advice before making decisions.

It’s clear that the Korean housing market is dynamic and influenced by many factors, from supply changes to regional economic conditions. We’ve seen how apartments dominate, how prices vary dramatically between Seoul and other areas, and what to expect in terms of new housing supply for 2026. Understanding these trends can help us make more informed decisions, whether we’re looking to buy, sell, or simply understand the market better. If you have any more questions or thoughts about the Korean housing market, please feel free to leave a comment below!