How to Check Korean Apartment Prices with Real Transaction Data Before You Buy
Use Korea's official real transaction database to judge a fair apartment price: compare size, floor and direction, filter cancelled deals, and see how assessed values differ.
Why actual sale prices beat asking prices
Most prices you see on Korean property apps are asking prices (호가): what owners hope to get. They are not completed deals. In a hot market they run ahead of reality, and in a cooling market they tend to linger at old levels. Real transaction prices (실거래가), by contrast, are the actual contract amounts that must be reported within 30 days of signing. Any fair-price judgment should start from real transactions, with asking prices used only to read what sellers currently expect.
Real transaction data has limits too. Because of the 30-day reporting window, the newest deals may not appear yet, and the data says nothing about renovation or view. So rather than trusting a single number, filter the data step by step as described below. This guide reflects the public system as of October 2026; menu names may change.
Using the Ministry's real transaction price system
The Ministry of Land, Infrastructure and Transport runs the real transaction price system. It publishes sales and rental deals by property type: apartments, row houses and multi-unit villas, detached houses and officetels.
- Choose the property type (apartment) and deal type (sale).
- Select the city or district, neighborhood and complex name.
- Set the period to the last 6 to 12 months and view results by exclusive area.
- Note the contract date, price, floor, whether the deal was cancelled, and whether it was brokered or a direct deal.
- Also check jeonse (전세, a large lump-sum deposit lease) deals in the same complex so you know the jeonse-to-price ratio.
Watch the area figures. The system shows exclusive area in ㎡, while ads often quote a "pyeong type" based on supply area that includes shared space. A unit marketed as "34-pyeong type" is often around 84㎡ exclusive, but this varies by complex, so confirm the exclusive area and compare like with like.
You can also follow regional trends on our market page.
Why prices differ within the same complex
| Factor | Effect on price | How to check |
|---|---|---|
| Exclusive area | The biggest factor; compare each size separately | Split the transaction list by area |
| Floor | Low floors (1 to 2) and top floors usually trade at a discount | List deals of the same size by floor |
| Direction and view | South-facing and open views are preferred | Building layout map and site visit |
| Building location | Access to station or school, road noise | Complex map and visit |
| Renovation | Fully renovated units can differ a lot | Photos and an interior viewing |
| Existing tenant | Units with tenants may sell cheaper due to later move-in | Check the lease end date |
How much a good floor or view is worth differs from complex to complex. Instead of relying on rules of thumb, collect several deals of the same size in the same complex that differ only by floor and look at the gap yourself.
A worked example (hypothetical numbers)
The figures below are invented to illustrate the method. Suppose an 84㎡ unit in Complex A, 12th floor, south-facing, in original condition, is listed at ₩950 million.
- Same-size deals in the last 6 months: ₩890M (3rd floor), ₩920M (10th), ₩930M (15th), ₩910M (8th, direct deal), ₩940M (cancelled).
- Remove the cancelled deal and the suspected special deal (a direct deal possibly between relatives), leaving ₩890M, ₩920M and ₩930M.
- Treat the low-floor deal separately; the mid-to-high-floor range is ₩920M to ₩930M.
- Because the interior is original, the lower end of the range is more reasonable once you price in renovation.
- Conclusion: a negotiation target around ₩920M; the ₩950M asking price is about ₩30M high.
Building a simple evidence table like this makes price conversations with agents much more persuasive. Checking the same size in a comparable nearby complex of similar age and location helps you catch temporary distortions in one complex. Compare candidates in listings.
Filtering cancelled and special deals
Deals marked cancelled (해제) were reported and later called off. A record-high deal that is later cancelled can distort your sense of the market, so always exclude them, and be extra careful in complexes where record prices are repeatedly reported and then cancelled.
- Direct deals between family or acquaintances can be below market; use them only as a reference.
- Distress sales from sellers in a hurry can be temporarily low.
- Registration status: if the system shows registration information, a record-price deal that remains unregistered long after signing deserves suspicion.
- Pre-sale rights: for new apartments, separate trades of pre-sale rights from ordinary sales.
Assessed value, lender value and real price
| Type | Who sets it and why | Notes |
|---|---|---|
| Real transaction price | Reported by the parties | The actual contract amount and the market benchmark |
| Official assessed price | Government, for taxes | Set as of January 1 each year; usually below market |
| Lender valuation | Financial institutions, for loans | Used to calculate the LTV loan limit |
Official assessed prices are on the Real Estate Price Notification site and drive property tax and the comprehensive real estate tax. A low assessed value does not mean a home is cheap, and it should not be used to judge a purchase price. Conversely, banks lend against their own valuation or an appraisal, so if you pay above that value, your loan may be smaller than expected.
Final price checklist before signing
- Did you collect at least five same-size deals from the last six months?
- Did you separate cancelled, direct and distress deals?
- Did you adjust for floor, direction and renovation?
- Did you check a comparable nearby complex?
- Do you know the range of current asking prices?
- Is the jeonse ratio unusually high or low?
- Is your loan limit, based on the lender's valuation, enough?
Once the price makes sense, move on to the process in first home buying steps. For multi-family houses or mixed-use buildings that are hard to price, consider appraisal services.
This guide is general information, not investment advice. Published fields and screen layouts may change, so check the official site.
Frequently asked questions
Q. Why can't I see the most recent deals?
Sales only need to be reported within 30 days of the contract, so last month's deals may not be published yet. Ask the agent about recent deals and check again in a few weeks.
Q. The assessed price is far below market. Is that a fair price?
No. The official assessed price is a tax base and is usually set below market value. Judge purchase prices by real transactions and comparable complexes.
Q. Why exclude cancelled deals?
A cancelled deal never actually closed at that price. Record-high deals that are later cancelled can make a complex look more valuable than it is.
Tools for this topic
This article is general information, not legal or tax advice. Rules change, so confirm with official sources or a professional before you sign or apply.