
Study Period | 2020 - 2030 |
Base Year For Estimation | 2024 |
Forecast Data Period | 2025 - 2030 |
Market Size (2025) | USD 390.31 Billion |
Market Size (2030) | USD 721.34 Billion |
CAGR (2025 - 2030) | 13.07 % |
Market Concentration | Low |
Major Players![]() *Disclaimer: Major Players sorted in no particular order |
South Korea Residential Real Estate Market Analysis
The South Korea Residential Real Estate Market size is estimated at USD 390.31 billion in 2025, and is expected to reach USD 721.34 billion by 2030, at a CAGR of 13.07% during the forecast period (2025-2030).
The increasing housing demand drives the market. Furthermore, the market is driven by the increasing construction of apartments in the country due to land scarcity.
- The COVID-19 pandemic brought a huge difference in the residential real estate market in South Korea. The number of private apartments sold in Seoul from January 2021 to July 2021 was 1,895 units, a decrease of 86% from the same period last year (13,782 units), while in the metropolitan area, 40,876 households were sold during the same period.
- In January 2021, South Korea's finance ministry prioritized increasing housing supply, with construction regulations in heavily crowded urban areas relaxed and redevelopment projects supported to stabilize and drive the housing market. Further, the government announced its plan to develop 830,000 housing units nationwide, including 320,000 units in Seoul, in two years. In Asia, South Korea has developed its green building certification system, the Green Standard for Energy and Environmental Design (G-SEED), which assesses the eco-friendliness of buildings by evaluating eight environmental areas.
- High-rise apartments, detached homes, and row houses are Korea's primary housing types. In South Korea, apartments are the most prevalent type of housing. These flats are frequently located in residential high-rise structures with five to twenty levels. The most popular form of housing for South Koreans is an apartment since the neighbourhood is readily constructed around the apartment complex. An apartment complex often houses hundreds to thousands of households with retail stores, recreation areas, and childcare facilities. Nevertheless, detached homes are becoming more popular as it has become more fashionable to live outside cities.
South Korea Residential Real Estate Market Trends
Urbanization in the Country is Driving the Market
- Asia-Pacific is urbanizing faster than Europe and North America. It will likely continue to have most of the world's megacities (urban agglomeration areas with a population of over 10 million). The rapid industrialization that Korea experienced has accelerated migration patterns and demographic trends from rural to urban areas. Due to the increasing population, the country has experienced unbalanced land distribution and demographic patterns.
- Rapid urbanization, demographic changes, and technological advancements are trends driving cities' residential real estate market. These factors contributed to the rising house prices, affordable housing shortages, and limited housing stock in many cities. These problems, in turn, threaten not just financial market stability but also the quality of life and integration and city competitiveness on the national and international scale.
- In response, the cities are focusing on creating more housing, including a more diverse range of options for the housing stock to meet the needs of different types and income levels of households. Further, through applying the principles of 'good density, ' integrated urban environments can be created with high-quality placemaking that cater to a range of income and population groups and contribute to the vibrancy and authenticity of a city.

Affordable Housing Supply in the Country
- South Korea ranked third from the bottom, with a property affordability score of 3.94 (in December 2021). With relatively low salaries and high apartment costs, South Koreans may find it challenging to afford houses.
- As reported in February 2021, South Korea planned to supply 830,000 housing units in Seoul and other big cities in two years through housing redevelopment projects led by state-run agencies, marking the largest-scale supply measure envisioned by the Moon Jae-in administration. Of the 830,000 housing units, 323,000 new houses will be built in Seoul and 293,000 in the Gyeonggi Province and Incheon. The ministry also plans to add over 220,000 new homes in major cities, including Busan, Daegu, and Daejeon, which saw hikes in property prices.
- Additionally, the Ministry of Land, Infrastructure and Transport announced its real estate plan to provide affordable housing in big cities to meet the demand from young people and tackle soaring home prices. The focal point of the new measure is to have public developers, such as the state-run Korea Land and Housing and Seoul Housing and Communities create fast-track approval processes to expand the housing supply swiftly.

South Korea Residential Real Estate Industry Overview
The South Korea Residential Real Estate Market is fragmented, with many regional and local players and a few global companies. Public services mostly dominate the housing or residential development in South Korea. Government agencies, such as the Korea National Housing Corporation and the Korea Land Development Corporation, primarily undertake housing developments in Korea. Dongbu Corporation, Hines, Shinyoung (Greensys), Korea Land and Housing Corporation, Booyoung Group, and HDC Hyundai Development are prominent players in the market. Growing residential and affordable house construction in the country generates several opportunities for companies in the industry.
South Korea Residential Real Estate Market Leaders
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Hyosung Corporation.
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Dongbu Corporation.
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Daelim Corporation
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Booyoung Group
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Korea Land and Housing Corporation.
- *Disclaimer: Major Players sorted in no particular order

South Korea Residential Real Estate Market News
- January 2023: International architecture office KPF has unveiled the design for Parkside Seoul, a new mixed-use neighborhood planned for the South Korean capital to complement the surrounding natural elements and pay homage to Yongsan Park. The 482,600 square meter development is composed of a layered exterior envelope encompassing various programs and public amenities to enhance the residents’ experience of space. Besides the residential units, the complex includes office and retail spaces, hospitality facilities, and public and green spaces.
- April 2023: Korea’s GS E&C has launched its premium modular housing division, XiGEIST. GS E&C is a global entity that spans civil engineering, building, oil & gas, power plants, and renewable energy. They already own a high-end apartment brand, Xi, and they’re not new to the modular housing market, with acquisitions of some significant modular home companies in Poland, Britain, and the USA in recent years. Their modular homes will be manufactured at the company’s recently opened automated panelised prefabrication plant in South Korea, where they hope to achieve a 30% reduction in construction time, with a delivery timeline of eight weeks.
South Korea Residential Real Estate Industry Segmentation
Residential real estate includes both new construction and resale homes. Residential real estate is an area developed for people to live in and cannot be used for commercial or industrial purposes. A complete background analysis of the South Korea Residential Real Estate Market, including the assessment of the economy and contribution of sectors in the economy, a market overview, market size estimation for key segments, emerging trends in the market segments, market dynamics, and geographical trends, and COVID-19 impact, is covered in the report.
The South Korean residential real estate market is segmented by type (apartments, condominiums, landed houses, and villas) and geography (Seoul and Other Locations). The report offers market sizes and forecasts in value (USD) for all the above segments.
By Type | Apartments and Condominiums |
Landed Houses and Villas | |
By Geography | Seoul |
Other Locations |
South Korea Residential Real Estate Market Research FAQs
How big is the South Korea Residential Real Estate Market?
The South Korea Residential Real Estate Market size is expected to reach USD 390.31 billion in 2025 and grow at a CAGR of 13.07% to reach USD 721.34 billion by 2030.
What is the current South Korea Residential Real Estate Market size?
In 2025, the South Korea Residential Real Estate Market size is expected to reach USD 390.31 billion.
Who are the key players in South Korea Residential Real Estate Market?
Hyosung Corporation., Dongbu Corporation., Daelim Corporation, Booyoung Group and Korea Land and Housing Corporation. are the major companies operating in the South Korea Residential Real Estate Market.
What years does this South Korea Residential Real Estate Market cover, and what was the market size in 2024?
In 2024, the South Korea Residential Real Estate Market size was estimated at USD 339.30 billion. The report covers the South Korea Residential Real Estate Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South Korea Residential Real Estate Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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Residential Real Estate in South Korea Industry Report
Statistics for the 2025 South Korea Residential Real Estate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Residential Real Estate analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.