South Korea · Asia · Population: 9,700,000
Seoul is one of the most unaffordable housing markets globally, with a slight cooling in the housing market. The city has moderate rental prices. At $580,000 average home price in South Korea, buyers should consider the 15.2x price-to-income ratio when planning a purchase.
| Average Home Price | $580,000 |
| Price per sqm | $12,000 |
| Price-to-Income Ratio | 15.2x |
| Mortgage Rate | 3.8% |
| 1-Year Price Change | -1.2% |
| 1-Bedroom Apartment | $1,000/mo |
| 3-Bedroom Apartment | $2,000/mo |
| Rent-to-Income Ratio | 25% |
| Median Household Income | $38,000/year |
| Years to Buy (at median income) | 15.2 years |
| Local Currency | KRW |
With a price-to-income ratio of 15.2x, Seoul is one of the most expensive cities for homebuyers. Consider renting or exploring nearby cities for better value. Home prices have decreased 1.2% in the past year.
Cities worldwide with home prices closest to Seoul
Our team analyzes data from OECD, Numbeo & National Statistics to deliver accurate, up-to-date information. All data is verified and cross-referenced with official sources.
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