Itaewon

Seoul's most international neighborhood, a multicultural Yongsan quarter of global cuisine, art museums and expat life beside the redeveloping Yongsan Park.

Updated May 25, 202611 min read

About Itaewon

Itaewon is Seoul's global village, the long-established heart of the city's expatriate and multicultural life in Yongsan-gu. Built up around the former US Army Garrison, the district packs in cuisines from every continent, the Little Arabia cluster around Seoul Central Mosque, the Leeum Samsung Museum of Art, and the upscale residential enclave of Hannam-dong, home to many diplomats and executives. The ongoing transformation of the former garrison into Yongsan Park is reshaping the area's future. For investors, Itaewon and neighboring Hannam offer some of Seoul's highest rents for small units, with Yongsan recently overtaking Gangnam as the priciest one-room rental market, driven by relentless expat and young-professional demand for English-friendly, centrally located housing. With city-wide yields averaging around 4.3% and compact units capable of more, the area suits investors targeting the international rental pool, while the Yongsan Park redevelopment provides a long-term appreciation catalyst.

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Location

Itaewon in Seoul, Seoul Capital Area, South Korea

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