More than half of the real estate in South Korea owned by foreign nationals is owned by Chinese citizens, according to data from South Korea’s Ministry of Land, Infrastructure and Transportation (MOLIT), Business Korea reported on Nov. 30.
It is indicated that in the first half of 2023, the proportion of real estate owned by foreign citizens increased in South Korea. The ministry highlighted a high percentage of Chinese citizens among foreigners who own South Korean real estate.
The number of foreign homeowners in South Korea increased by 3,732, or 4.6%, to 85,358 at the end of June 2023, compared with the beginning of the year, according to statistics.
The total number of homes owned by foreign citizens reached 87,223, accounting for approximately 0.46% of the total housing stock in South Korea.
Chinese citizens own 47,327 homes, accounting for more than half (54.3%). The number of houses owned by Chinese citizens increased by 2,438 compared to the beginning of the year. Americans came in second (20,469 households).
Source: Rossa Primavera
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