South Korea is globally known for its K-pop, beauty products, and advanced technology. Beyond its cultural influence, the country also has a distinctive property market that has been attracting increasing international attention. In this article, we’ll explore some of the key characteristics that make South Korea’s real estate landscape unique. Foreign ownership of real estate in South Korea used to be quite flexible, with no minimum purchase amount and limited restrictions on foreign buyers. As a result, the South Korean property market saw a spike in foreign buyer transactions, which prompted the government to introduce the ‘foreign land transaction permit system’ in August 2025. This new policy aims to control speculative foreign capital inflows and stabilise housing prices. It covers residential properties the capital Seoul, as well as portions of neighbouring Gyeonggi Province, and seven districts in the port city of Incheon. The regulations include:

• Foreign buyers must report their property purchase within 60 days of signing the contract.

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