Increased Foreign Purchases of Mid-priced Properties in the Seoul Metropolitan Area

Trends in Foreign Real Estate Purchases(부동산 시장)

From January to April this year, foreigners purchased 4,169 apartments, villas, and commercial units in Korea—2.5% fewer than the same period last year, but on a monthly upward trend. Chinese buyers accounted for 66.9% (2,791 transactions), followed by Americans (519), Vietnamese (136), and Canadians (118). Purchases by other nationalities are also gradually increasing. 부동산 시장

Regions with High Concentration of Chinese Purchases

n Gyeonggi Province, Chinese buyers accounted for 76.8% (1,431) of the 1,863 foreign transactions. Incheon Bupyeong topped the list with 195 purchases, followed by Ansan Danwon-gu (158), Bucheon Wonmi-gu (151), Siheung (137), and Bucheon Sosa-gu (121). These areas have large ethnic Chinese or Joseonjok communities, driving demand for mid-priced housing. In Seoul, purchases concentrated in Guro-gu (47) and Geumcheon-gu (44), highlighting neighborhoods adjacent to foreign enclaves.

Gangnam Purchase Patterns and Controversies

In the upscale Gangnam area, U.S. buyers (approximately 50 transactions) outnumbered Chinese buyers (12) by nearly 4.8 times between January and April. U.S. purchases were also notable in Pyeongtaek (31), Seocho-gu (24), and Bundang-gu (24). Despite this, Chinese property ownership still accounts for 56.2% of all foreign-owned homes, fueling ongoing “reverse discrimination” debates among local buyers.