South Korea real estate market — prices, rental yield and trend
South Korea is one of the 123 property markets Glopra tracks.
What it earns
We do not publish a price or a rental yield for South Korea. The public data for this market is limited to index figures that show change over time but no absolute level, and we would rather show nothing than a number we cannot stand behind.
How the tax works. Non-resident individual owning ONE Korean home and letting it long term: the rental income is NOT taxable. Legal basis: Income Tax Act (소득세법) Art. 12(2)(b) — housing rental income of a person who owns one house is non-taxable, except where the official assessed value (기준시가) exceeds KRW 1.2bn or the house is located abroad. The National Tax Service ruling 기준-2020-법령해석소득-0076 (3 April 2020) confirms that this exemption applies to non-residents exactly as it does to residents, and that a non-resident's houses located outside Korea are not counted towards the house count. If the condition fails (two or more Korean homes, or assessed value above KRW 1.2bn), rental income is taxed comprehensively under Art. 121(2): progressive 6-45% plus a 10% local surtax, with no personal allowances beyond the taxpayer's own — we deliberately leave the upper bound of the range empty rather than estimate it. Jeonse deposits can create a separate deemed-rent tax base; our reference case is a monthly-rent (wolse) letting. Source: Korean Law Information Center (law.go.kr) statutory text and the NTS ruling, retrieved 2026-09-20.
Who can buy in South Korea
Full ownership; prior permit required in the Seoul capital region. That is the rule a foreign buyer meets first, not legal advice — check the current position locally before you commit.
Sources: Global Property Guide, South Korea price history (citing Korea Real Estate Board National Housing Price Trend Survey and KOSIS/HUG) · globalpropertyguide.com · law.go.kr · casenote.kr · kedglobal.com · api.frankfurter.dev. Snapshot: 2026-09-20.
Latest South Korea market analysis
- Seoul apartment prices rise for an 85th week while the Gangnam districts turn negative — 2026-09-25
- South Korea Plans 1.19 Million Public Homes by 2030, With 77% in the Seoul Area — 2026-09-22
- South Korea Adds 230,000 Homes to Its Seoul-Region Supply Plan — 2026-08-15
Related markets: Seoul