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Real estate in South Korea - statistics & facts

For a long time, rising prices and difficulty renting affordable housing have been problems in the real estate and leasing sector in South Korea. Housing affordability has become not only an important social issue in this country, but also a political one. With rising unemployment in recent years, especially among young people, it seems that the general dissatisfaction with the situation has grown while the confidence in real estate policy has been lost.

Housing prices in Seoul

Despite various government measures, housing prices have risen dramatically in recent years, especially in the capital Seoul and the surrounding Gyeonggi Province, where nearly half of South Korea's population lives. While Seoul had the most lucrative properties in the country, nearly 60 percent of apartments in Seoul were worth over 900 million South Korean won. After Gangnam, Seocho and Yongsan were the most expensive areas in Seoul to live.

Housing policies

Successive governments have brought forth various policies they claimed would solve this problem. For example, governments have imposed higher taxes on people with multiple homes or restricted mortgage loans for high-value home purchases. These various policies attempted to restrict or energize supply and demand but often did not have the intended effect. While most South Koreans still believe that property prices will continue to rise in the coming years, it remains to be seen how the next governments will deal with this problem and to what extent the public will support these policies.

Interesting statistics

In the following 6 chapters, you will quickly find the 34 most important statistics relating to "Real estate in South Korea".

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