Busan, South Korea
Property prices · 2024 · Asia
Property price trend in Busan (2024–2026)
Property comparison — cities in South Korea (2024)
Other Asia cities (2024)
Frequently asked questions
How much does property cost in Busan in 2024?
In Busan, the average price per sqm in the city centre is KRW 6,500,000, and KRW 4,200,000 outside the centre (2024 data). Prices have risen 9.8% since 2024.
How much is rent in Busan in 2024?
A 1-bedroom apartment in Busan rents for approximately KRW 900,000 per month in 2024. A 3-bedroom apartment costs around KRW 1,450,000/month.
Is it better to buy or rent in Busan?
Renting is generally more cost-effective in Busan. The price-to-rent ratio is 28.0x — it would take approximately 28.0 years of rental payments to equal the property purchase price. Current mortgage rates are approximately 4.00%.
What are mortgage rates in South Korea in 2024?
The average mortgage rate in South Korea is approximately 4.00% as of 2024. With a price-to-rent ratio of 28.0x, buyers should carefully weigh mortgage costs against rental savings.
What is the price per sqm in Busan?
The average property price per square metre in Busan city centre is KRW 6,500,000 in 2024. Outside the centre, expect to pay around KRW 4,200,000/sqm.