KPL
(KPL/Yonhap) The number of homes owned by foreigners in the Republic of Korea surpassed 100,000 for the first time in 2024, with Chinese nationals accounting for more than 56 percent, government data showed Friday.
(KPL/Yonhap) The number of homes owned by foreigners in the Republic of Korea surpassed 100,000 for the first time in 2024, with Chinese nationals accounting for more than 56 percent, government data showed Friday.
As of the end of last year, foreigners owned 100,216 homes in Republic of Korea, up 5.4 percent from six months earlier, according to the Ministry of Land, Infrastructure and Transport.
Foreign-owned homes made up 0.52 percent of the country's total registered housing units, the ministry said.
The proportion of homes owned by Chinese nationals rose to 56.2 percent, or 56,301 units, up from 55.5 percent at the end of December and 55 percent at the end of June.
Americans were the second-largest group, owning 22,031 homes, or 22 percent of the total, followed by Canadians with 6,315 units, or 6.3 percent.
Most of the housing units owned by foreigners were located in and around Seoul. Gyeonggi Province accounted for the largest share with 39.1 percent, followed by Seoul with 23.7 percent and Incheon with 10 percent.
Meanwhile, foreign ownership of Republic of Korean land increased 1.2 percent in 2024 from a year earlier.
As of December, foreigners owned 267.9 million square meters of land, accounting for 0.27 percent of the country's total land area.
The value of land held by foreigners also rose by 1.4 percent to 33.48 trillion won (US$24.8 billion) during the same period.
KPL
