2026 2025 2024

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Seoul, South Korea

Q: How much is rent in Seoul?

A 1-bedroom apartment in Seoul rents for KRW 1,200,000/month in 2024.

Q: Is it better to buy or rent in Seoul?

Renting is generally more cost-effective in Seoul. Price-to-rent ratio: 28.0x.

Property prices · 2024 · Asia

Price/sqm — City Centre KRW 12,000,000

Price/sqm — Outside Centre KRW 7,500,000

1-Bed Rent / Month KRW 1,200,000

3-Bed Rent / Month KRW 2,200,000

Avg Mortgage Rate 4.20%

Price-to-Rent Ratio 28.0x Renting is generally more cost-effective

Property price trend in Seoul (2024–2026)

Property comparison — cities in South Korea (2024)

City	Centre /sqm	Outside /sqm	1-Bed Rent	vs Seoul
Seoul	KRW 12,000,000	KRW 7,500,000	KRW 1,200,000	—
Incheon	KRW 7,200,000	KRW 4,800,000	KRW 950,000	-40%
Busan	KRW 6,500,000	KRW 4,200,000	KRW 900,000	-45.8%
Daegu	KRW 4,500,000	KRW 3,000,000	KRW 700,000	-62.5%

Other Asia cities (2024)

Frequently asked questions

How much does property cost in Seoul in 2024?

In Seoul, the average price per sqm in the city centre is KRW 12,000,000, and KRW 7,500,000 outside the centre (2024 data). Prices have risen 7% since 2024.

How much is rent in Seoul in 2024?

A 1-bedroom apartment in Seoul rents for approximately KRW 1,200,000 per month in 2024. A 3-bedroom apartment costs around KRW 2,200,000/month.

Is it better to buy or rent in Seoul?

Renting is generally more cost-effective in Seoul. 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 4.20%.

What are mortgage rates in South Korea in 2024?

The average mortgage rate in South Korea is approximately 4.20% 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 Seoul?

The average property price per square metre in Seoul city centre is KRW 12,000,000 in 2024. Outside the centre, expect to pay around KRW 7,500,000/sqm.