| Study Period | 2019 - 2030 |
| Base Year For Estimation | 2024 |
| Forecast Data Period | 2025 - 2030 |
| Market Size (2025) | USD 47.92 Billion |
| Market Size (2030) | USD 77.21 Billion |
| CAGR (2025 - 2030) | 10.01% |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
South Korea Luxury Residential Real Estate Market Analysis
The South Korea Luxury Residential Real Estate Market size is estimated at USD 47.92 billion in 2025, and is expected to reach USD 77.21 billion by 2030, at a CAGR of 10.01% during the forecast period (2025-2030).
In 2024, South Korea's luxury residential real estate market, particularly in Seoul, experienced robust growth, with home prices rising at the fastest rate in over four years. This growth was driven by increased investment activity in reconstruction zones, resulting in record-high transaction volumes. To address these sharp price escalations, the government announced in August 2024 a strategic plan to construct over 400,000 new homes within six years.
To stabilize the market further, the government implemented regulatory relaxations and enhanced support to accelerate housing supply. This included expediting existing projects to deliver 217,000 houses in Seoul and its satellite cities, while initiating new developments for an additional 210,000 homes. These measures aim to curb rising property prices and manage household debt effectively.
Technological advancements have also played a critical role in shaping the market. Innovations such as virtual tours and online transaction platforms have streamlined the purchasing process, attracting both domestic and international buyers. This digital transformation has driven market expansion and increased demand for luxury properties.
In conclusion, the South Korean luxury residential real estate market has demonstrated resilience and adaptability in 2024 and 2025. Government-led initiatives to expand housing supply, combined with technological advancements, have strengthened the market's outlook, positioning it as an attractive investment opportunity for both domestic and international stakeholders.
South Korea Luxury Residential Real Estate Market Trends
Increasing Popularity of Spacious Luxury Apartments
In 2024 and 2025, South Korea's luxury residential real estate market experienced a significant uptick in demand for spacious luxury apartments. This trend was particularly prominent in Seoul, where high-end home prices recorded an 18.4% annual increase in Q4 2024, positioning the city as a leader in global luxury housing markets.
To address this growing demand, the government announced in December 2024 plans to deliver 252,000 public housing units, with construction on 70,000 units scheduled to commence in 2025. This initiative aims to mitigate housing shortages while catering to the rising preference for larger living spaces.
Additionally, in H1 2025, the government plans to designate new zones in the greater capital region to facilitate the supply of 30,000 additional housing units. Key areas of focus include Seoul’s Seoripul neighborhood within the highly desirable Gangnam district. This measure is expected to enhance the availability of spacious luxury apartments in prime locations.
In conclusion, the growing demand for spacious luxury apartments in South Korea is driven by robust market dynamics and strategic government interventions to expand housing supply in critical urban areas.
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Premium Valuation of Detached Houses in Seoul
In 2024 and 2025, Seoul's luxury residential real estate market demonstrated significant growth in the valuation of detached houses. By October 2024, the average transaction price for detached houses reached approximately 1.14 billion South Korean won, surpassing the average apartment price of around 1.12 billion won.
Seoul's leadership in the global luxury housing market is evident from this performance. In 2024, the city achieved an 18.4% year-over-year increase in luxury home prices, the highest growth rate among 44 global cities analyzed.
To address the surging demand and maintain market stability, the South Korean government implemented measures in August 2024 to expand housing supply. These initiatives include regulatory relaxation and increased support to strengthen the supply side of the real estate market.
In conclusion, the rising valuations of detached houses in Seoul highlight the city's strong luxury real estate market, driven by robust price growth and strategic government actions to manage supply-demand dynamics.
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South Korea Luxury Residential Real Estate Industry Overview
The South Korean luxury residential real estate market is fairly fragmented, with local and global players existing in the market. Some of the major players in the market include Samsung C&T Corporation, Daewoo Engineering & Construction, KyeRyong Construction Industrial, Hoban Construction, and DL Construction. Key players in the market are leveraging partnerships, acquisitions, and mergers to capture the market share.
South Korea Luxury Residential Real Estate Market Leaders
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Samsung C&T Corporation
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Daewoo Engineering & Construction
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KyeRyong Construction Industrial
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Hoban Construction
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DL Construction
- *Disclaimer: Major Players sorted in no particular order
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South Korea Luxury Residential Real Estate Market News
- January 2025: Scape Australia, the leading student accommodation provider in the country, has secured a USD 700 million investment from South Korea's National Pension Service (NPS) as part of a global strategic partnership. This capital will drive growth in the living sector, focusing on Purpose Built Student Accommodation (PBSA) and build-to-rent developments. These projects are managed by Rent-to-Live Co, a management entity established by Scape's principals in 2023. To strengthen its position in the luxury residential rental market across the Asia-Pacific region, Scape plans to establish an office in South Korea.
- August 2024: The South Korean government has announced a strategic initiative to deliver 830,000 new housing units by 2025 across major urban hubs, including Seoul, Gyeonggi Province, and Incheon. This plan is designed to mitigate the surging property prices in urban areas and provide affordable housing solutions for younger demographics. By streamlining approval processes, the government aims to reduce project timelines significantly, cutting completion periods from 13 years to just five.
South Korea Luxury Residential Real Estate Industry Segmentation
Real estate is deemed "luxury" when it includes a desirable location, a high asking price, a substantial size, priceless materials, professional design, upscale facilities, and a distinguished past. Luxury real estate often includes a valuation that falls among the top 10% of houses on the local market. The report covers a complete background analysis of the South Korean luxury residential real estate market. It includes the economic assessment and sector contribution to the economy, market overview, market size estimation for key segments, emerging market segments, market dynamics, geographical trends, and the impact of geopolitics and pandemic on the market.
The South Korean luxury residential real estate market is segmented by type (apartments and condominiums, villas, and landed houses) and cities (Seoul, Busan, and other cities).
The report offers the South Korean luxury residential real estate market size and forecasts in value (USD) for all the above segments.
| By Type | Apartments and Condominiums |
| Villas and Landed Houses | |
| By City | Seoul |
| Busan | |
| Other Cities |
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South Korea Luxury Residential Real Estate Market Research FAQs
How big is the South Korea Luxury Residential Real Estate Market?
The South Korea Luxury Residential Real Estate Market size is expected to reach USD 47.92 billion in 2025 and grow at a CAGR of 10.01% to reach USD 77.21 billion by 2030.
What is the current South Korea Luxury Residential Real Estate Market size?
In 2025, the South Korea Luxury Residential Real Estate Market size is expected to reach USD 47.92 billion.
Who are the key players in South Korea Luxury Residential Real Estate Market?
Samsung C&T Corporation, Daewoo Engineering & Construction, KyeRyong Construction Industrial, Hoban Construction and DL Construction are the major companies operating in the South Korea Luxury Residential Real Estate Market.
What years does this South Korea Luxury Residential Real Estate Market cover, and what was the market size in 2024?
In 2024, the South Korea Luxury Residential Real Estate Market size was estimated at USD 43.12 billion. The report covers the South Korea Luxury Residential Real Estate Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South Korea Luxury Residential Real Estate Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.
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South Korea Luxury Residential Real Estate Industry Report
Statistics for the 2025 South Korea Luxury Residential Real Estate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Luxury 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.
