Overview

• Foreign individuals, corporations and governments must secure local approval before purchasing housing in designated parts of Seoul, Incheon and Gyeonggi, with unapproved contracts deemed invalid.
• Buyers are required to move in within four months and reside for at least two years, with administrative fines for violations and anti‑money‑laundering referrals for suspect overseas capital.
• Foreign‑owned homes reached 99,830 at end‑2024, up 20.7 percent in two years, including 546 new purchases priced above 1.2 billion won.
• Chinese nationals accounted for 73 percent of foreign home purchases in the greater Seoul area from 2020 to 2024, with ownership rising to 59,722 by end‑2024.
• About 29.5 percent of foreign purchases over 600 million won were declared for rental during Jan. 2023–Jul. 2025, with many high‑end deals financed through deposits and overseas borrowing that are difficult to trace.