Buying an apartment in South Korea in 2026
Foreigners can buy, but in and around Seoul permission and 2 years of living in the apartment are required. Prices, the deal process, taxes up to 12% and the catch with deposit tenants.
In short
- In and around Seoul, since 26 August 2025 a foreigner needs permission before the contract and 2 years of living in the apartment.
- Prices: the average Seoul apartment cost about $1,200,000 in August 2026, about $750,000 north of the Han River.
- Acquisition tax is 1-3% on a first home and up to 12% on a second one in regulated areas.
- No residence for buying in Seoul: the investor programme applies on Jeju and in resort zones.
In detail
A foreigner can buy an apartment in South Korea, but since 26 August 2025 buying in and around Seoul requires permission from the local authority, and you have to live in the apartment yourself for at least 2 years. Buying a Seoul apartment to let is now practically impossible for a foreigner. Property search and checks are described on our property in South Korea page; here is the short answer.
How much an apartment in South Korea costs in 2026
In August 2026 the average apartment price in Seoul exceeded 1.6 billion won for the first time, about $1,200,000 at the rate of 6 October 2026 - 1,342 won to the dollar. The median apartment in the 14 districts north of the Han River costs about 1 billion won, about $750,000, and south of it about 1.63 billion won, about $1,220,000. In Busan and other cities housing is considerably cheaper.
Rules for foreigners in the capital region
| Requirement | How it works |
|---|---|
| Where it applies | all of Seoul, 23 cities and counties of Gyeonggi province, 9 districts of Incheon |
| Duration | from 26 August 2025, extended to 25 August 2027 |
| Permission | obtained before signing the contract |
| Moving in | within 4 months of purchase |
| Residence | live there for at least 2 years, no letting during that period |
The regime was introduced to stop speculative purchases. Buying to live in is still possible, and breaching the residence obligation carries fines.
How to buy an apartment in South Korea: step by step
- Registry check: owner, mortgage, seizures and tenants' rights.
- Permission from the district office before the contract, if the property is in a permit zone.
- Contract and deposit, usually about 10% of the price.
- Transaction report to the district office and, for a non-resident, a money transfer report at an authorised foreign exchange bank.
- Payment of the balance, acquisition tax and registration of title at the court registry.
The transfer report at the foreign exchange bank is needed not only for the purchase but also to take the money back out legally on sale. Korean banks rarely lend to foreigners, so purchases are planned with your own money.
How much the purchase costs: taxes and fees
| Payment | Rate |
|---|---|
| Acquisition tax on a first home | 1% to 3% depending on the price, plus local taxes |
| Second and further homes in regulated areas | up to 12% |
| Annual property tax | paid by the owner, with a separate tax added for expensive homes |
| Agency and registration | at tariffs depending on the price |
Example calculation. An apartment north of the Han River at the median price - about $750,000. Acquisition tax on a first home at the top 3% rate - about $23,000. About $773,000 in all, excluding local taxes, agency and registration. Owner rates are on the taxes in South Korea page.
A specifically Korean catch is the large-deposit lease used instead of monthly rent. If such a tenant lives in the apartment being bought, the duty to return the deposit passes to the buyer, so the lease is checked before the deposit is paid.
The 1-3% tax is clear, a tenant's deposit costs more
The law does not forbid buying an apartment in South Korea on your own. But mistakes cost more than taxes: a contract in the capital region without the authority's permission, an apartment with a tenant whose large deposit the buyer must return, a transfer without a report at the foreign exchange bank, after which the money cannot be taken out on sale, and fines for breaching the obligation to live in the apartment. We check the permit zone and the registry, prepare the application and residence documents and support the contract, reports and registration. We guarantee professional work and a transparent process.
The cost of support depends on the property and region; our manager in the chat will calculate it.
Does buying an apartment give Korean residence
Buying a home in Seoul does not give a residence permit. On Jeju Island and in certain resort zones there is a residence programme for investors in resort property projects, and investing in a Korean company can be a basis for an investor visa. Life in the capital is covered in the Seoul guide.
How we help
The law does not forbid buying an apartment on your own. But mistakes cost more than taxes: a contract without the authority's permission, an apartment with a tenant whose deposit you will have to return, a transfer without a report at the foreign exchange bank, after which the money cannot be taken out on sale. Murblz specialists check whether the property is in a permit zone, prepare the application and residence documents, check the property in the registry and support the contract, reports and registration. Our manager in the chat will calculate the cost of support.
Property in Korea
Purchase permission, registry checks and support for the deal.
Learn more →Account in Korea
An account at an authorised foreign exchange bank and the transfer report.
Learn more →South Korea: all programmes
Visas, taxes, companies and life in the country.
Learn more →We will check whether the apartment you want can be bought. Tell us where and why you need it and whether you plan to live in it yourself. We will show whether permission is needed, the taxes and the transfer procedure.
FAQ
Can a foreigner buy an apartment in South Korea?
How much does an apartment in Seoul cost in 2026?
What taxes apply when buying an apartment in Korea?
Does buying an apartment give residence in South Korea?
Don’t want to figure this out alone?
We handle the whole process end to end: we check your documents, match a program to your situation and give you honest timelines and costs. Ask your question in the chat: the free consultation starts right here. Legal representation before authorities and courts is handled by Murblz specialists together with locally licensed partners.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
Free consultation