South Korea's Residential Property Market Analysis 2025

As the new government introduces measures to moderate overheating in Seoul and the surrounding areas, prices in the South Korean housing market are following an uneven trajectory shaped by divergent demand patterns, supply constraints, and an evolving regulatory environment.

This extended overview from the Global Property Guide covers key aspects of the South Korean housing market and takes a closer look at its most recent developments and long-term trends.

Table of Contents

• Housing Market Snapshot
• Historic Perspective
• Demand Highlights
• Supply Highlights
• Rental Market
• Mortgage Market
• Socio-Economic Context

Housing Market Snapshot

South Korean residential property prices are following a complex and uneven trajectory, shaped by divergent demand patterns, supply constraints, and an evolving regulatory environment. The national market remains broadly stagnant, with the Bank of Korea's (BOK) Nationwide House Price Index recording a modest year-on-year increase of 0.30% as of September 2025. Beneath this headline figure, however, pronounced regional disparities continue to drive market polarization.

South Korea's house price annual change:

Note: South Korea House Price Index: Residential Dwellings Sales Price Index (2021=100).
Data Source: Kookmin Bank.

Since July 2025, signs of overheating in Seoul and the surrounding metropolitan housing markets have somewhat moderated following the government's household debt management measures introduced in June. However, price growth remains largely concentrated in the capital region.

As of September 2025, the metropolitan House Price Index rose 1.71% year-on-year, while Seoul itself recorded a stronger yet slightly slowing increase of 4.76%, down from a peak of 5.1% in July. In contrast, housing markets outside the capital have continued to decline for a third consecutive year, with oversupply and expanding inventories further widening the gap between urban and provincial areas.

Market divergence is further reflected in data from the Korean Statistical Information System (KOSIS) on newly built apartment sales. As of September 2025, the 12-month rolling average sale price in Seoul reached KRW 13.779 million (USD 9,892) per square meter - more than 2.3 times the national average of KRW 5.906 million (USD 4,240).

Sales price dynamics, by submarket:

Looking ahead, the Bank of Korea initially projected apartment prices in Seoul to rise 5.9% by the end of December 2025 compared to end-June levels. However, recent macroprudential measures are estimated to have tempered this growth by 1.6 to 2.1 percentage points, resulting in a revised forecast of a 3.7% to 4.3% increase.

Despite recent policy efforts, analysts expect Korea's housing market to remain distinctly divided. The Seoul metropolitan area is likely to experience continued upward price pressure, supported by limited new housing supply and resilient demand. In contrast, non-capital regions are projected to face weakening fundamentals and subdued price dynamics. Industry observers broadly agree that this regional divergence will continue to define the Korean housing market through 2026, as persistent supply constraints and ongoing demographic concentration in Seoul reinforce structural imbalances across the country.

Historic Perspective:

Government Policies Steering Housing Market Fluctuations

In the early 2000s, the South Korean housing market saw rapid price growth, peaking in 2006 with a nominal House Price Index increasing by 11.51% year-on-year (9.22% inflation-adjusted). This period of speculation in urban areas, particularly Seoul, was followed by a slowdown with the 2008 global financial crisis. Although nominal prices continued to grow by 5.91% year-on-year in 2008, inflation-adjusted growth dropped to just 1.70%. The early 2010s saw prolonged stagnation. In 2012, nominal house prices fell by 1.42% annually, with inflation-adjusted prices dropping even further, by 2.81%. Weak demand and macroeconomic uncertainty contributed to these declines, despite low interest rates aimed at stimulating growth.

A turning point came in 2014 with new government policies, including lower interest rates and relaxed mortgage regulations, which boosted housing demand. Nominal house prices rose by 1.80% year-on-year in 2014 and by 3.42% in 2015. These gains coincided with a surge in housing starts, peaking at 716,759 units in 2015. However, in 2016 and 2017, annual nominal price growth slowed to 0.80% and 1.47%, respectively. Stricter regulations, such as loan-to-value (LTV) and debt-to-income (DTI) limits, aimed at curbing speculative buying, helped cool the market.

By 2018, nominal price growth had slowed to 1.00% year-on-year, with inflation-adjusted prices declining slightly (-0.31%). The government's regulatory efforts, coupled with a record number of housing completions in 2018 (626,889 units), led to more balanced market conditions. In 2019, nominal prices recorded a slight annual decline of 0.33%, reflecting softer demand in certain areas.

The market saw a resurgence in 2020 and 2021, fueled by low interest rates and pandemic-driven demand. Nominal prices jumped by 5.43% year-on-year in 2020 and by 9.87% in 2021, the strongest growth since the mid-2000s. However, this trend reversed sharply in 2022, as rising interest rates, introduced to combat inflation, and stricter mortgage regulations reduced demand. Nominal prices dropped annually by 4.68% in 2022, with inflation-adjusted prices falling by 9.24%.

The housing market appeared to have bottomed out in 2023, with nominal house prices declining by 3.51% year-on-year and real prices falling by 6.48%, reflecting the combined impact of elevated interest rates and subdued buyer sentiment. New housing starts dropped significantly to 242,188 units, indicating continued caution among developers. The number of building permits issued dropped by 17.83%. Early signs of recovery began to emerge in 2024. House prices posted a marginal year-on-year increase of 0.10%, while both residential completions and housing starts recorded positive annual growth - though activity remained below the long-term average, and the number of building permits issued remained stagnant.

20-year annual house price change (based on end-of-year House Price Index and Consumer Price Index):

Residential construction activity dynamic (started and completed housing units, and the number of building permits granted):

Data Sources: Ministry of Land, Infrastructure and Transport, KOSIS.

Demand Highlights:

Capital Region Drives Transaction Growth Amid Strengthening Regulatory Controls

According to the Ministry of Land, Infrastructure and Transport (MOLIT), a total of 532,093 residential sales transactions were recorded nationwide during the first nine months of 2025, representing an 8.28% increase compared with the same period last year. The Capital Region recorded the strongest growth, with transaction volumes rising 14.8% year-on-year. Within the region, Seoul posted the sharpest increase at 30.3%, followed by Gyeonggi at 11.0%, while Incheon declined 4.2%. Across other major metropolitan areas, results ranged from a 1.00% decrease in Daegu to a 21.29% increase in Ulsan. Among regional cities, five out of nine registered annual gains, with Sejong showing the most notable growth at 16.10%.

Data Sources: MOLIT, KOSIS.

Number of residential sales transactions, by submarket:

Amid increasing home prices and rising household debt, the government introduced a series of tightening measures in mid- and late-2025 to curb speculative buying and excessive leverage in overheated markets. The policy cycle began with the June 27, 2025, package jointly announced by the Financial Services Commission (FSC) and MOLIT, which tightened loan-to-value (LTV) ratios for homebuyers in high-priced areas. Further restrictions were introduced in September and October, lowering the LTV cap to 40% in speculation-prone zones, expanding the scope of regulated areas across Seoul, Incheon, and Gyeonggi, and emphasizing "controlling demand while ensuring sufficient supply." Collectively, these measures reflected the authorities' determination to rein in speculative activity in high-value markets and temper debt-fueled housing demand.

In parallel with domestic market stabilization efforts, the government also moved to strengthen oversight of non-resident housing demand. As of the end of 2024, foreign nationals owned 100,216 residential properties, up 5.43% from mid-2024, according to MOLIT's Foreign Ownership Survey published in May 2025. Ownership remained concentrated in the Capital Region, led by Gyeonggi (39%), Seoul (24%), and Incheon (10%). Chinese nationals accounted for the largest share at 56%, followed by Americans (22%), Canadians (6%), Taiwanese (3%), and Australians (2%).

In August 2025, the government implemented South Korea's first foreign-buyer trading-permit system, designating all of Seoul and key areas of Gyeonggi and Incheon as restricted zones for foreign property transactions. Under the new rules, non-resident foreigners may purchase homes only if they intend to reside in them; approved buyers must move in within four months and maintain residence for at least two years, effectively curbing speculative "gap investments" based on existing rental contracts. Real-estate economist Kwon Dae-jung, professor at Hansung University, noted that "restricting foreign property acquisitions to a limited extent, based on reciprocity with other countries, is necessary to stabilize the domestic real estate market."

Supply Highlights:

Regional Disparities Persist as Nationwide Activity Softens

In recent years, residential construction activity in South Korea has experienced a marked slowdown. Although signs of recovery emerged in 2024, key market indicators remain weak. The sector continues to face headwinds from stricter bridge loan and project financing (PF) conditions, as well as significantly higher financing costs, which have created substantial challenges for private developers.

According to the Ministry of Land, Infrastructure and Transport, a total of 273,307 housing units were completed nationwide during the first nine months of 2025, representing a 5.40% year-on-year decline. Over the same period, housing starts fell by 11.29% year-on-year to 170,787 units.

Data Sources: Ministry of Land, Infrastructure and Transport, KOSIS.

In the Capital Region, housing completions increased modestly by 1.96% year-on-year during the first nine months of 2025, largely driven by a 126% surge in Seoul. However, housing starts continued to decline both within and outside the Capital Region, reflecting persistent caution among developers.

Residential construction dynamics, by submarket:

The issuance of building permits, a leading indicator of future housing supply, remained largely stagnant. Nationwide, 218,322 housing construction permits were granted between January and September 2025, a marginal year-on-year decrease of 0.37%.

Data Sources: Ministry of Land, Infrastructure and Transport, KOSIS.

Regional disparities remained significant. The Capital Region recorded a 22.90% year-on-year increase, with 111,115 permits issued during the period, while the rest of the country saw a 16.71% decline, totaling only 107,207 permits.

Amid growing polarization between the capital area and other regions, the government continues to prioritize housing supply expansion in the Seoul metropolitan area to address ongoing demand pressures and affordability challenges. Land Minister Park Sang-woo has reaffirmed that increasing supply in this region remains the government's top priority, with "1.35 million homes planned to be delivered by 2029, around 270,000 units annually, to stabilize pricing and ease medium-term supply constraints."

Number of residential construction permits granted, by submarket:

Looking ahead, the Korea Housing Market Institute expects that abnormal lending restrictions and tightening PF conditions will continue to weigh on the overall annual performance of residential construction activity in 2025. Although the government has introduced several regulatory relaxations, including measures to expedite approval processes and improve efficiency in urban redevelopment, these initiatives have yet to yield a significant supply response, largely due to persistent financing challenges and delays in land development.

The Housing Market Outlook and Policy Directions for 2025 underscores the urgency of normalizing housing finance regulations, particularly in relation to elevated premiums on mortgage and PF loans that have disproportionately affected end-users and constrained supply. The report also advocates for policy reforms aimed at reducing construction costs, easing PF restrictions, and alleviating excessive developer burdens such as mandated infrastructure contributions. Accelerating the development of public housing sites, especially in the third-phase new towns, is highlighted as a critical step toward increasing supply in the near term.

Rental Market:

Monthly Asking Rents in Seoul Surge, Government Reverses Regulatory Approach

After a dip in 2023 and re-acceleration in early 2024, rental inflation in South Korea has stabilized at low but positive levels, both in the long-term deposit (jeonse) and monthly rent (wolse) segments. The Integrated Rent Index published by the Korea Real Estate Board (REB) showed a 0.83% annual growth in October 2025, down from 1.45% in October 2024, but notably exceeding the -6.36% reported in October 2023. Long-term deposits increased 0.50% year-on-year, while monthly rents increased by 1.15%, both categories demonstrating slowing growth. For both segments combined, growth was primarily driven by apartment rents, which increased by 1.02% year-on-year in October 2025, compared to 0.75% for row houses and 0.19% for detached houses.

South Korea's rent price index:

Note: South Korea's Rent Price Index, % change 1 yr
Data Source: OECD.

On the regional level, the most pronounced annual increase in rental prices was observed in Ulsan (2.4%), followed by Seoul (2.3%) and Sejong (2.2%). At the same time, Daegu, Daejeon, Chungnam, Jeonnam, and Jeju demonstrated a decrease in rents between 0.3% and 1.8% year-on-year.

In parallel, data from KB Real Estate, cited by The Chosun Daily and other outlets, indicates a surge in monthly asking rents for apartments in Seoul － a 7.15% increase between January and October 2025, the highest growth rate in a decade. The dynamic is largely tied to growing demand for wolse contracts, recently fueled by tighter lending rules, which made it difficult for many non-homeowners to secure jeonse deposits, driving them to the monthly rent market and, in turn, accelerating rent hikes. 

Data Source: REB.

In nominal terms, the capital city of Seoul and the surrounding province of Gyeonggi remain the most expensive rental markets, with both long-term deposits and monthly rents notably above the respective national averages.

Global Property Guide research found gross rental yields for apartments in the capital city of Seoul at the average level of 4.31% in April 2025, marginally up from 4.29% previously reported in October 2024.

Key rental indicators, by submarket:

As of 2019, 42% of South Korean households rented their residence, of which 15.1% were under the long-term deposit (jeonse) system, 19.7% were under monthly rent with a deposit, 3.3% paid monthly rent without a deposit, and 3.9% occupied their dwellings free of charge.

Under the traditional long-term deposit (jeonse) system, instead of making monthly payments, renters make lump-sum deposits (typically between 50% and 80% of property value), which are then reinvested by landlords to make a profit and are returned to renters at the end of the lease term. The system has been historically common in the country's rental market; however, in recent years, the share of households renting under it has been declining, while the monthly rent (wolse) system, which combines deposits of varying amounts with regular monthly payments, has been gaining popularity. The jeonse system has been criticized for the difficulty of entering the rental market, the significant financial burden put on renters, as well as the limited protection it offers, leading to thousands of cases of landlord fraud reported every year.

"Following the jeonse fraud crisis in 2022, the proportion of monthly rentals in the housing lease market has risen sharply. As society becomes more accepting of monthly rent, and with more young people preferring to rent over buy, monthly rental demand is expected to grow further," says an article from The Chosun Daily. The outlet also notes that the increased relevance of the monthly rents model has been attracting foreign capital to the country, with investment banks, pension funds, and real estate companies forming joint ventures with local firms to start rental housing projects.

To boost the development of private rental housing and support institutional landlords, in the fall of 2024, the Korean government announced a new Rental Housing Supply Plan, which aimed to ease certain restrictions for commercial operators (including rent control and corporate tax rates) and offer financial support measures. However, more recently, a sharp regulatory reversal has been reported, with favorable tax or financing treatment of commercial operators now removed, making new purchase-and-lease investments difficult. The inconsistency of the government's approach is now raising concerns among industry experts, who warn that it could weaken the supply base, worsening the jeonse and monthly rent crunch, and heightening instability in the greater Seoul rental market.

Mortgage Market:

Interest Rates Climb Up Amid Lending Rules Tightening

After four consecutive cuts to its base rate between October 2024 and May 2025, the BOK has been holding off on policy moves in recent months. During the latest monetary policy meeting in October 2025, the central bank once again decided to maintain the rate at 2.50%, citing still high uncertainty surrounding the economic growth outlook and the need to further monitor financial stability conditions, such as the effects of real estate market stabilization measures on housing markets in Seoul and surrounding areas, household debt, and exchange rate volatility.

South Korea's mortgage loan interest rates:

Note: Fixed Interest Rate Loans
Data Source: Bank of Korea.

Based on these factors, the majority of economists polled by Reuters now believe the regulator is likely to maintain its stance at the upcoming policy meeting at the end of November 2025, pushing the next potential base rate cut to the first quarter of 2026.

Data Source: BOK.

Despite the ongoing monetary easing cycle, interest rates on mortgage loans issued by the South Korean banks have not shown signs of decrease. On the contrary, the weighted average interest rate on newly issued loans increased from the three-year low of 3.50% in July 2024 to 3.96% in September 2025, according to the latest BOK figures. The weighted average rate for outstanding loans remained relatively stable at 4.10% in September 2025, only slightly down from 4.19% reported a year ago, but still considerably elevated compared to pre-2022 levels.

In November 2025, The Korea Times reported that the upper bound of fixed-rate mortgage loans at the nation's four major lenders (KB Kookmin, Shinhan, Hana, and Woori) reached the 6% range for the first time since December 2023. Variable-rate mortgage loans also registered an increase in both the upper and lower bounds, indicating a continued upward trend for all categories of housing credit.

Weighted average interest rates on bank housing loans to households:

This contradiction in interest rate trends is largely tied to the Korean government's ongoing efforts to prevent the overheating of the real estate market and curb the expansion of household debt through strong credit regulation policies and guidelines for commercial lenders, leading to individual banks raising their rates to suppress the inflow of new borrowers. "It is difficult to immediately lower lending interest rates as the pressure to manage household debt is still there," an official from a commercial bank told Yonhap News.

Previously, the Financial Services Commission (FSC), the South Korean government's top financial regulator, implemented stricter stressed debt-service ratio (DSR) regulations, which imposed surplus interest (called stress interest) to reflect potential future interest rate hikes when the borrower executes the loan. Major banks then followed suit, halting mortgage loans for multiple homeowners, restricting individuals' requests for mortgage loans, and raising their lending rates. The country's largest lender, KB Kookmin, even decided not to provide credit loans exceeding customers' annual incomes.

More recently, in September-October 2025, the government enacted further mortgage lending restrictions in Seoul, including the expansion of regulated areas (now covering all 25 districts of the capital and 12 districts in the surrounding Gyeonggi province), lowering maximum mortgage caps for properties valued above KRW 1.5 billion, strengthening the DSR regulation, and lowering of the loan-to-value (LTV) ratio for regulated areas.

While the pressure put by the government on major lenders in the Seoul metro area and new tighter regulations appear to be slowing the growth of bank-issued housing credit, "the balloon bulges elsewhere", as an article from The Korea Economic Daily points out, with customers seeking home loans now turning to regional banks, online banks, cooperatives, and other second-tier financial institutions.

Overall, the balance of outstanding mortgage loans in the country continues to grow, having reached KRW 1,159.6 trillion (USD 0.84 trillion) in Q3 2025 (+3.2% since the beginning of the year), according to the BOK. The share of mortgages in total household debt maintained by the financial system also continued to trend upwards, increasing from 56.0% in 2021 to 62.2% in 2024 and 62.9% in Q3 2025.

Of the total value of outstanding mortgages, about 66.1% is currently represented by loans from commercial and specialized banks, 10.7% by loans from non-bank depository institutions, and 23.3% by loans from other financial institutions. Sized against the national economy, the combined mortgage stock has been stable in recent years, fluctuating around 44% of GDP at current prices since 2020.

Data Source: BOK.

Socio-Economic Context:

Economy Expected to Rebound Next Year as Uncertainties Ease

After being subdued in 2025 by lower exports and domestic demand (real GDP growth projected at 0.9% for the year), the South Korean economy is expected to rebound next year, driven by easing uncertainties and accommodative policies. The International Monetary Fund (IMF) projects a 1.8% expansion in 2026.

In parallel, the consumer price index (CPI) inflation in South Korea eased from a more than two-decade high of 5.1% in 2022 to 2.0% in 2024 and has been fluctuating around the BOK target of 2% since, most recently reported at 2.4% in October 2025. The baseline scenario of the central bank's latest outlook sees the annual inflation at 2.0% in 2025 and 1.9% in 2026, while the IMF forecast places the indicator at 2.0% and 1.8%, respectively, reflecting low demand-side pressures and stable global oil prices despite the recent depreciation of the national currency.

"Prolonged domestic political and global trade policy uncertainties have weighed on growth in 2025, while inflation has remained close to target. With sufficient policy space, the authorities are taking measures to stimulate the economy. While the accommodative policies will support near-term growth, achieving the authorities' 3% growth target would require advancing structural reforms to raise productivity, address demographic headwinds, and improve capital allocation. The government's new Economic Growth Strategy aims to address some of these key structural challenges," Rahul Anand of the IMF summarized the latest developments upon completion of the Article IV Mission to the country in September 2025.

Data Source: IMF.

The South Korean labor market is traditionally characterized by high rigidity, high duality (meaning the market is fragmented into regular and non-regular workers), and long working hours. Regular workers enjoy better job security, more benefits, and higher wages than non-regular workers, while non-regular workers typically face much higher layoff rates and receive much lower wages and social benefits coverage in pension, health, and employment insurance. As of October 2025, non-regular workers made up over 26% of all waged/salaried employees, according to the KOSIS figures.

The seasonally adjusted unemployment rate in the country has gone down since 2021 and was most recently reported at 2.6% in October 2025. At the same time, the October 2025 overview of recent economic developments from the BOK notes that the labor market in the country has been influenced by various factors, such as changes in population and industrial structure, the business cycle, and government policies, that often exert conflicting effects on employment trends.

According to the central bank analysis, as the elderly population grows and actively participates in economic activities, they have become a key source of labor supply, filling many of the increased job openings. Changes in the economy's industrial structure, however, contribute to sluggish youth employment, suggesting that although "economic recovery may boost youth employment, it is unlikely to produce substantial structural improvements".

Data Source: BOK.

Overall, while strong economic fundamentals and sound macroeconomic policies have helped the Korean economy withstand multiple shocks in recent years, its current outlook is still complicated by external and internal uncertainties.

Domestically, the country experienced a substantial political shake-up after former President Yoon Suk Yeol's impeachment stemming from his short-lived martial law declaration in December 2024, which triggered an early presidential election in June 2025. The new president, Lee Jae-myung, has since launched a reform agenda targeting innovation, technology (especially AI), and rebuilding social and economic stability. In August 2025, the new government unveiled its economic growth strategy, which is expected to drive Korea's economic recovery in the upcoming period.

Externally, the impact of the US tariffs on the global trade environment continues to pose downward risks to the growth projection path, despite agreements with the US reached by multiple countries earlier this year, including the deal negotiated by Korea's new government in July. "Although uncertainty in the global trade environment has eased to some extent following the recent tariff agreements between the United States and multiple countries, ongoing negotiations between the United States and China remain the most significant risk factor for the growth outlook," the BOK said in the latest edition of its economic outlook.

Sources:

1. Korean Statistical Information System (KOSIS)
   1. Statistics by Topic (KO): https://kosis.kr/
2. Bank of Korea (BOK)
   1. Economic Statistics System: https://ecos.bok.or.kr/
   2. Analysis of the Spread of Macroprudential Policy and its Effective Combination with Monetary Policy [No. 2025-26] (KO): https://www.bok.or.kr/
   3. The Bank of Korea Base Rate: https://www.bok.or.kr/
   4. Monetary Policy Decision & Opening Remarks to the Press Conference (October 23, 2025): https://www.bok.or.kr/
   5. Inflation Targeting: https://www.bok.or.kr/
   6. Korea Economic Outlook (August 2025): https://www.bok.or.kr/
   7. Recent Economic Developments (October 2025): https://www.bok.or.kr/
3. Financial Services Commission (FSC)
   1. FSC Announces Plans for Implementing Stressed Debt Service Ratio Rules in H2 2024: https://fsc.go.kr/
4. Ministry of Land, Infrastructure and Transport (MOLIT)
   1. Housing Statistics for September 25 (KO): https://www.molit.go.kr/
   2. An "Emergency Household Debt Review Meeting". Press Release (KO): https://www.molit.go.kr/
   3. Statistics on Foreign Land and Housing Ownership as of the end of 2024 (KO): https://www.molit.go.kr/
   4. Announcement of "New Rental Housing Supply Plan for Housing Stability for the Common People, Middle Class, and Future Generations" (KO): https://www.molit.go.kr/
5. Ministry of Economy and Finance (MOEF)
   1. New Government's Economic Growth Strategy: https://english.moef.go.kr/
6. Korea Housing Institute
   1. Housing Market Outlook and Policy Directions for 2025 (KO): https://khi.re.kr/
7. Korea Real Estate Board (REB)
   1. National Housing Price Trend Survey_Monthly (October 2025): https://www.reb.or.kr/
8. International Monetary Fund (IMF)
   1. Country Overview: Republic of Korea: https://www.imf.org/
   2. IMF Staff Completes 2025 Article IV Mission to the Republic of Korea: https://www.imf.org/
   3. Advancing Labor Market Reforms in Korea: https://www.imf.org/
9. Federal Reserve Economic Data (FRED)
   1. South Korean Won to U.S. Dollar Spot Exchange Rate: https://fred.stlouisfed.org/
10. Fitch Ratings
    1. Fitch Affirms Korea at 'AA-'; Outlook Stable: https://www.fitchratings.com/
11. The Korea Economic Daily
    1. As Concerns Grow Over a Surge in Household Debt, Banks Raise Lending Rates Again (KO): https://www.hankyung.com/
    2. Korean Banks Raise Mortgage Rates Despite Looming Rate Cut: https://www.kedglobal.com/
    3. Korea's Credit Loans Balloon as Regulators Cap Mortgages: https://www.kedglobal.com/
    4. Korean Banks Raise Mortgage Rates Despite Looming Rate Cut: https://www.kedglobal.com/
    5. Korea's Household Debt Sees 'Balloon Effect' as Rules Tightened in Seoul: https://www.kedglobal.com/
12. The Korea Herald
    1. Government Outlines Plans For 1.35m New Homes In Greater Seoul: https://www.koreaherald.com/
    2. New Regulation on Housing Loans Comes Into Force: https://www.koreaherald.com/
13. The Korea Times
    1. Mortgage Rates Climb to Near 2-year High Amid Tightened Lending Rules: https://www.koreatimes.co.kr/
14. The Chosun Daily
    1. [Q&A] Regulated Area Loan Limits Reduced from 70% to 40% of Home Value: https://www.chosun.com/
    2. South Korea Caps Mortgage Loans at 40% in Expanded Regulated Areas: https://www.chosun.com/
    3. Seoul Apartment Monthly Rent Surges 7.15%, Highest in a Decade: https://www.chosun.com/
    4. Global Investors Flock to S. Korea's Expanding Monthly Rental Market: https://www.chosun.com/
    5. Korea Enforces Loan Restrictions to Address Rental Market Instability Amid Supply Crisis: https://biz.chosun.com/
    6. Seoul's High-End Monthly Rents Double in Five Years: https://www.chosun.com/
    7. Corporate Private Rental Investors Halt New Projects Amid South Korea Policy U-Turn: https://biz.chosun.com/
15. Reuters
    1. Bank of Korea to Hold Rates at 2.50% on November 27, Cut Pushed to Next Quarter: https://www.reuters.com/
    2. Bank of Korea Board Member Expresses Financial Stability Concerns: https://www.reuters.com/
    3. Trump Says US Will Set 15% Tariff on South Korean Imports Under New Deal: https://www.reuters.com/
    4. Bank of Korea Expects 'Significant' Economic Shock Even After US Trade Deal: https://www.reuters.com/
16. Time
    1. President Lee Jae-Myung's Plan to Reboot South Korea: https://time.com/
17. Yonhap News
    1. The Base Rate Has Fallen, But the Four Major Banks' Mortgage Rates Have Actually Risen (KO): https://www.yna.co.kr/
18. YTN News
    1. The Base Rate Was Lowered, so Why Are Loan Rates Rising? (KO): https://www.ytn.co.kr/
19. Dong-A Ilbo
    1. More Than 10,000 People Fall Victim to Jeonse Fraud: https://www.donga.com/
    2. Youth Bearing the Brunt of Rental Fraud Impact: https://www.donga.com/
20. Real Estate Panorama
    1. Summary and Detailed Market Analysis of the Korean Real Estate Market Outlook for 2026 (KO): https://contents.premium.naver.com/
21. Green Economy Newspaper
    1. The Construction Housing Market Will See an Asymmetric Recovery (KO): https://www.greened.kr/
22. The Korea Times
    1. Foreigners' Homebuying Falls To 3-Year Low As Tougher Transaction Rules Take Effect: https://www.koreatimes.co.kr/