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[Yanolja Research Insights] Vol.9 Airbnb's Growth and Its Impact on the Seoul Real Estate Market

How Airbnb's Growth is Reshaping Seoul’s Real Estate Market

Seoul has seen a rapid rise in Airbnb listings, sparking important discussions about its impact on the local real estate market. A recent Yanolja Research Insights Vol.9 delves into this phenomenon, providing a data-driven analysis of how Airbnb influences property prices and rental rates across the city. Here are the key takeaways from the study:


Airbnb’s Expansion in Seoul

  • As of April 2023, there are 13,945 Airbnb listings in Seoul.

  • Over 8,000 listings are concentrated in five key districts: Mapo-gu, Gangnam-gu, Yongsan-gu, Jung-gu, and Jongno-gu.

  • Certain areas, like Seogyo-dong, show a clear shift from residential use to short-term rentals.


Impact on Property Prices

  • The study found a correlation between Airbnb growth and property price fluctuations, especially in high-density Airbnb districts.

  • Apartments in areas like Mapo-gu and Gangnam-gu showed significant price increases tied to Airbnb expansion.

  • Officetels and multi-family housing in some districts also experienced noticeable price effects.


Effects on Rental Rates

  • Apartment rental rates in Mapo-gu and other dense Airbnb districts have risen significantly.

  • Officetels in Gangnam, Seocho, and Songpa saw noticeable rental price increases.

  • Multi-family housing, particularly in Mapo-gu and speculative zones, showed strong links between Airbnb growth and rising rental costs.


Policy Considerations and Future Outlook

  • With the continued growth of Airbnb, housing affordability and availability could become more challenging for Seoul residents.

  • As Seoul attracts more international tourists, the demand for short-term rentals is expected to rise further.

  • The government may need to introduce policy measures to balance tourism growth with housing stability.


Learn More

These findings highlight the evolving relationship between shared accommodation platforms and Seoul’s housing market. For a deeper dive into the data and analysis, visit Yanolja Research Official Website to read the full report.
Yanolja Research Insights Vol.9

Stay tuned for more updates on how the travel and hospitality industry continues to shape urban landscapes!

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Location: Seoul, Korea

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