South Korea Luxury Residential Real Estate Market Size, Share, and COVID-19 Impact Analysis, By Type (Apartments and Condominiums, Villas and Landed Houses), By Ownership (Owner-Occupied Luxury Properties, Investment and Rental Luxury Properties, Second Homes and Vacation Residences), and South Korea Luxury Residential Real Estate Market Insights, Industry Trend, Forecasts to 2035.

South Korea Luxury Residential Real Estate Market Insights Forecasts to 2035

• The South Korea Luxury Residential Real Estate Market Size was estimated at USD 41.8 Billion in 2024
• The Market Size is Expected to Grow at a CAGR of around 8.00% from 2025 to 2035
• The South Korea Luxury Residential Real Estate Market Size is Expected to Reach USD 97.5 Billion by 2035

According to a research report published by Spherical Insights & Consulting, the South Korea Luxury Residential Real Estate Market is anticipated to reach USD 97.5 billion by 2035, growing at a CAGR of 8.00% from 2025 to 2035. Some of the main factors propelling the market are a growing class of high-net-worth individuals brought on by robust economic growth, rising urbanization trends that are raising land values nationwide, and ongoing technological advancements that make transactions easier.

Market Overview

The luxury residential real estate market in South Korea is the area of the housing market that serves affluent people looking for upscale residences with outstanding features, prime locations, and first-rate amenities. This market includes luxury homes like penthouses, villas, and expensive apartments located in wealthy Seou neighborhoods like Gangnam, Hannam-dong, Cheongdam-dong, and Apgujeong-dong. Additionally, the luxury residential real estate market in South Korea is expanding rapidly at the moment due to a number of interrelated factors. One of the biggest factors is the nation's robust economic expansion, which is creating a growing number of high-net-worth individuals (HNWIs) who can afford to buy upscale real estate. Moreover, Favorable government policies, like tax breaks for real estate investments and a generally stable political environment, make South Korea a desirable place to invest in luxury residential real estate, which fuels market expansion.

Report Coverage

This research report categorizes the market for the South Korea luxury residential real estate market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea luxury residential real estate market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea luxury residential real estate market.

Driving Factors

The demand for luxury residential real estate in South Korea has increased due to the country's growing urbanization trends. Because there is a shortage of land in urban areas, more people are relocating to cities in search of better living conditions and employment opportunities. This is driving up real estate prices and increasing interest in luxury homes as a long-term investment and lifestyle option. Additionally, improvements in technology are making transactions simpler and increasing market transparency. Both domestic and foreign buyers are finding it easier to make well-informed decisions thanks to mobile-friendly platforms, blockchain-based contracts, and virtual tours. More transactions are being encouraged by this improved customer experience, which is boosting market expansion.

Restraining Factors

The cost of borrowing for investors and homebuyers is directly impacted by changes in interest rates. Rate increases make mortgage payments more costly, which lowers affordability and deters consumers from buying luxury homes. On the other hand, reduced prices increase demand by making upscale properties more affordable. In uncertain financial times, this volatility can slow market growth and have an impact on developers' pricing strategies.

Market Segmentation

The South Korea luxury residential real estate market share is classified into type and ownership.

• The apartments and condominiums segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea luxury residential real estate market is segmented by type into apartments and condominiums and villas and landed houses. Among these, the apartments and condominiums segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. mainly as a result of the high demand for high-density living in metropolitan areas and the fast rate of urbanization. The need for vertical living solutions has increased due to South Korea's population growth, particularly in Seoul. Affluent buyers find luxury high-rise developments in areas like Gangnam ideal because they provide first-rate amenities, security, and easy access to business hubs.

• The owner-occupied luxury properties segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea luxury residential real estate market is segmented by ownership into owner-occupied luxury properties, investment and rental luxury properties, second homes and vacation residences. Among these, the owner-occupied luxury properties segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Driven by a high level of demand from wealthy families and high-net-worth individuals in the nation. Elite buyers are drawn to upscale neighborhoods like Gangnam and Seocho by the concentration of wealth in technology and entertainment. Luxury homes are the most popular choice for the wealthy due to a property's cultural standing as well as preferences for privacy, security, and personalization.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea luxury residential real estate market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Samsung C&T Corporation
• Daewoo Engineering & Construction
• KyeRyong Construction Industrial
• Hoban Construction
• DL Construction
• Daebang Construction Co., Ltd.
• Ssangyong Engineering & Construction Co., Ltd.
• Others

Recent Developments:

In Jully 2023, The construction company of the Samsung Group, Samsung C&T Corporation, completed "The Summit," an ultra-luxurious residential complex in Seoul's Yongsan district that cost USD 872 million and incorporated sustainable building techniques and smart home technology

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea Luxury Residential Real Estate Market based on the below-mentioned segments:

South Korea Luxury Residential Real Estate Market, By Type

• Apartments and Condominiums
• Villas and Landed Houses

South Korea Luxury Residential Real Estate Market, By Ownership

• Owner-Occupied Luxury Properties
• Investment and Rental Luxury Properties
• Second Homes and Vacation Residences