Seoul’s Market Has One Setting: Sky High

Seoul’s Market Has One Setting: Sky High

Seoul’s Luxury Real Estate Market: A 2025 Snapshot
As of April 2025, Seoul’s luxury real estate market continues to demonstrate robust growth, driven by strong domestic demand, significant foreign investment, and a limited supply of high-end properties.
Market Performance
Price Growth: In 2024, Seoul led globally in prime residential property price growth, with an 18.4% annual increase, surpassing cities like Manila and Dubai. This marks the fifth consecutive year of double-digit growth in Seoul’s luxury segment .

Average Prices: The average price per square meter for luxury properties in Seoul stands at approximately $11,211 USD, or $1,042 per square foot .

Demand Drivers
Foreign Investment: Chinese investors have been particularly active, accounting for over 60% of foreign real estate purchases in South Korea. In early 2024, Chinese investment in South Korean real estate reached $4.8 billion, an 80% increase from the previous year.

Domestic Factors: Seoul’s vibrant culture, advanced infrastructure, and high quality of life continue to attract both domestic and international buyers seeking luxury residences.

Government Regulations
To curb speculative buying and stabilize the market, the South Korean government has implemented stricter property trading regulations in affluent Seoul districts such as Gangnam, Seocho, Songpa, and Yongsan. As of March 2025, apartment transactions in these areas require prior local council permits, with approvals granted primarily for primary residence purchases.

Outlook
Despite regulatory measures, demand for luxury properties in Seoul remains strong, supported by ongoing foreign investment and the city’s appeal as a global economic and cultural hub. The market is expected to continue its upward trajectory, albeit at a moderated pace, as new policies take effect and additional housing supply is introduced to meet demand.

1. Bar Chart: Seoul Luxury Real Estate Prices (2024)

This chart shows the average price of luxury properties in Seoul:
$11,211 per square meter

$1,042 per square foot

2. Line Chart: Annual Luxury Property Price Growth in Seoul (2020–2024)

This line graph tracks the percentage growth in luxury property prices over the past 5 years:

• Growth has surged from 10.2% in 2020 to a staggering 18.4% in 2024, marking Seoul as one of the fastest-appreciating prime markets globally.