This year, land prices increased by 0.50% in the first quarter. The area with the highest increase nationwide is Gangnam District in Seoul, representing Gangnam, Seocho, and Songpa.
According to the '2025 First Quarter Nationwide Land Price Change Rate and Land Transaction Volume' announced on the 24th by the Ministry of Land, Infrastructure and Transport and the Korea Real Estate Board, the nationwide land price increased by 0.50% in the first quarter of this year. This is a decrease of 0.06 percentage points compared to the previous quarter (0.56%) and an increase of 0.07 percentage points compared to the same period last year (0.43%).
The nationwide land price has shown an increase for 25 consecutive months since it turned around in March 2023 (0.008%). In March of this year, it increased to 0.177%, which is up from the previous month (0.158%).
In the first quarter, the land price change rates for both the metropolitan area (0.73% → 0.66%) and non-metropolitan area (0.27% → 0.22%) were lower than that of the fourth quarter of last year. In particular, Seoul (0.80%) and Gyeonggi (0.57%), the two regions, exceeded the national average (0.50%).
Among the 252 cities, counties, and districts nationwide, Seoul's Gangnam District recorded the highest land price increase at 1.30%. Following were Yongin's Cheoin District at 1.26% and Seoul's Seocho District at 1.16%, with a total of 51 cities, counties, and districts exceeding the national average.
The land transaction volume in the first quarter was found to have decreased. The total land transaction volume (including land attached to buildings) amounted to approximately 433,000 plots (285.8 square kilometers). This represents a 6.2% decrease (29,000 plots) compared to the fourth quarter of last year and a 2.6% decrease (11,000 plots) compared to the first quarter of last year.
The pure land transaction volume, excluding land attached to buildings, was also approximately 150,000 plots (261.2 square kilometers), which is an 8.8% decrease (14,000 plots) compared to the fourth quarter of last year and an 11.5% decrease (19,000 plots) compared to the first quarter of last year.
In the first quarter, the total land transaction volume increased in five regions, including Gwangju (26.6%) and Sejong (15.4%), while it decreased in 12 regions. The pure land transaction volume increased in Gwangju (105.7%) and Jeonnam (1.7%), while it decreased in the other 15 regions.