Americans own the most foreign-held apartments in Seoul, followed by Chinese and Canadians. According to data analyzed by Rep. Jeong Jun-ho of the Democratic Party, as of last December, Americans owned 5,678 apartments, accounting for 45.4% of the 12,516 foreign-owned units in Seoul.
Notably, 63% of American-owned apartments are in the 'Han River Belt,' including Gangnam, Seocho, Songpa, Mapo, Yongsan, Seongdong, and Gwangjin. In Gangnam alone, Americans own 2,228 units, while Mapo, Yongsan, Seongdong, and Gwangjin account for 1,348 units. By district, Gangnam has 1,028 units, Seocho 742, and Songpa 458.
Chinese nationals own 2,536 units, mainly in Guro (610), Yeongdeungpo (284), Dongdaemun (150), and Geumcheon (138), with 159 in Gangnam. Canadians own 1,831 units, followed by Taiwanese (790), Australians (500), and British, French, and Germans (334). New Zealanders own 229, and Japanese 220.
An official from the Korea Construction Policy Institute noted a dual trend in foreign housing transactions: investment in high-priced areas like Gangnam and Seocho, and real demand in areas like Guro and Incheon.
Rep. Jeong highlighted that many foreign owners in the Han River Belt are believed to be 'black-haired foreigners,' with 40% of 49 foreigners investigated by the National Tax Service being of Korean descent. He emphasized the need for balanced policies to protect foreign residents' rights while curbing speculative real estate purchases.
Notably, 63% of American-owned apartments are in the 'Han River Belt,' including Gangnam, Seocho, Songpa, Mapo, Yongsan, Seongdong, and Gwangjin. In Gangnam alone, Americans own 2,228 units, while Mapo, Yongsan, Seongdong, and Gwangjin account for 1,348 units. By district, Gangnam has 1,028 units, Seocho 742, and Songpa 458.
Chinese nationals own 2,536 units, mainly in Guro (610), Yeongdeungpo (284), Dongdaemun (150), and Geumcheon (138), with 159 in Gangnam. Canadians own 1,831 units, followed by Taiwanese (790), Australians (500), and British, French, and Germans (334). New Zealanders own 229, and Japanese 220.
An official from the Korea Construction Policy Institute noted a dual trend in foreign housing transactions: investment in high-priced areas like Gangnam and Seocho, and real demand in areas like Guro and Incheon.
Rep. Jeong highlighted that many foreign owners in the Han River Belt are believed to be 'black-haired foreigners,' with 40% of 49 foreigners investigated by the National Tax Service being of Korean descent. He emphasized the need for balanced policies to protect foreign residents' rights while curbing speculative real estate purchases.
* This article, published by Aju Business Daily, was translated by AI and edited by AJP.
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