Seoul

As of May 2026, Seoul, Incheon, Suwon have 8,805 active Airbnb and VRBO listings. This represents a 24% decrease from the previous year.

The average Airbnb or VRBO in Seoul generates ₩35M per year. High-performing properties earn ₩88M/year, while low-performing properties earn ₩12M/year. The significant revenue spread suggests that market performance is heavily bifurcated, where top-tier assets capture outsized returns despite a contraction in overall supply.

Airbnb and VRBO can be profitable in Seoul. Average annual revenue is ₩35M with 52% occupancy. High-performing properties earn up to ₩88M/year. With supply shrinking by nearly a quarter, the revenue concentration at the top reflects a market where existing inventory is effectively absorbing demand to maintain healthy yields.

The average occupancy rate for Airbnbs and VRBOs in Seoul is 52%. This occupancy level, combined with an average nightly rate of ₩181K, results in a RevPAR (revenue per available room) of ₩63K per day.

4+ bedroom properties demonstrate the strongest performance in Seoul, with annual revenue of ₩95M. These properties balance operating costs and rental demand most effectively in the Seoul market. Property performance varies significantly by location, amenities, and management quality.

Short-term rental regulations vary by jurisdiction in the Seoul area. Seoul: Strict. Registration required with district office, tourism business license for most STRs, residential area restrictions. Active enforcement with fines and platform cooperation. Incheon: Moderate. Registration and business permit required, zoning restrictions apply. Moderate enforcement, some unlicensed operations exist. Suwon: Moderate. Business registration and local permits required, residential zoning limits. Enforcement varies by district, compliance mixed. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Seoul Airbnb and VRBO market is currently showing balanced with strong demand conditions. Supply has declined 24% year-over-year, while RevPAR has increased 14%. This indicates healthy demand growth outpacing supply. Such dynamics point to a tightening market environment where reduced competition bolsters per-unit revenue potential.

Launch around January, 2-3 months before peak fall season (April peaks). This pre-peak timing lets you build reviews when competition is 33% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (June-January) when gaining traction is harder.

The most common amenities in Seoul listings include: Air Conditioning (100%), Kitchen (98%), Heating (97%), Washing Machine (91%), Tv (89%). Amenities that boost revenue the most include Air Conditioning, Heating, Washing Machine, with Air Conditioning properties earning approximately 21% more (₩45M/year vs ₩37M/year).

Monthly estimated revenue per listing in Seoul over the last 12 months: May: ₩2M, June: ₩2M, July: ₩2M, August: ₩2M, September: ₩2M, October: ₩2M, November: ₩2M, December: ₩2M, January: ₩2M, February: ₩1M, March: ₩2M, April: ₩3M. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Seoul is ₩181K, up 37% year-over-year. By property size: 1-bedroom properties average ₩136K/night, 2-bedroom properties average ₩191K/night, 3-bedroom properties average ₩272K/night, 4+ bedroom properties average ₩467K/night. Rates peak in April and are lowest in May.

Guests in Seoul book an average of 36 days in advance, down 15% from last year. By property size: 1-bedroom: 34 days, 2-bedroom: 37 days, 3-bedroom: 41 days, 4+ bedroom: 47 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Seoul Airbnb and VRBO market has seen the following changes: supply declined 24%, revenue per listing increased 14%, occupancy fell 0%, average nightly rates increased 37%, and lead time decreased 15%. This rapid escalation in nightly rates amidst lower supply signals aggressive pricing power and shorter booking windows.

In Seoul, Saturday sees the highest booking demand while Tuesday has the lowest. Nightly rates peak on Friday and are lowest on Sunday. Weekends show 32% higher occupancy than weekdays.