South Korea: houses with over one billion KRW transfer price| ��ƽ��

Number of housing assets with over one billion South Korean won in transfer price reported in South Korea from 2018 to 2023

Characteristic	Number of assets
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Source

Release date

January 2025

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Region

South Korea

Survey time period

2018 to 2023

Special properties

final report for each year; based on capital gains tax reports on housing transfers

Supplementary notes

The source did not provide a date of publication. The release date used here is the access date.

Transfer price refers to the actual transaction price at the time of asset transfer between the seller and the buyer.

Citation formats

In 2023, a total of *** properties in South Korea were reported for capital gains tax with transfer prices exceeding * South Korean won. This showed a decline compared to *** units in 2022. The total confirmed transfer price for these transactions in 2023 was around *** billion won.

Trends in home financing and mortgage loans

In South Korea, wealthier households are increasingly relying on mortgage loans. By September 2023, over * households with annual incomes exceeding * South Korean won accounted for over ** percent of all households with mortgage loans. This shows the growing trend of higher-income households taking on debt for home purchases. In Seoul, over ** households in this income bracket had mortgage loans, accounting for more than ** percent of mortgage-holding households in the city.

Housing market shifts and decline

The South Korean housing market is undergoing significant changes in both rental patterns and real estate sales. From 2022 to 2023, the rent-to-jeonse ratio increased by *** points, indicating a shift in housing costs. Jeonse, a system where tenants pay large upfront deposits instead of monthly rent, continues to play a major role in the market. Meanwhile, the pre-construction real estate market saw a sharp decline in 2023, with only around ** units sold, a notable drop from previous years. This shows a slowdown in new home purchases amid changing economic conditions.