Investment property: South Korea
Foreigners in South Korea can buy homes and land, but since August 2025 special rules apply in the capital region.
All of Seoul, 23 cities and counties of Gyeonggi Province and 9 districts of Incheon are zones where a foreigner must obtain permission in advance to buy a home. In August 2026 the ministry extended this regime to 25 August 2027. Outside these zones buying is simpler, but the purchase must still be reported to the state.
Rules for foreigners in the capital region
| Requirement | How it works |
|---|---|
| Where it applies | all of Seoul, 23 cities and counties of Gyeonggi, 9 districts of Incheon |
| Period | from 26 August 2025, extended to 25 August 2027 |
| Permit | must be obtained before signing the contract |
| Moving in | within 4 months of purchase |
| Residence | live in the home for at least 2 years; it cannot be let during this period |
The regime was introduced to stop speculative purchases, so buying a flat in Seoul to let is now practically impossible for a foreigner. Buying to live in remains available.
How a purchase works
- Choice of property and a registry check: owner, mortgage, seizures, tenants' rights.
- In a permit zone, an application to the district office before signing the contract.
- Sale contract and deposit, usually about 10%.
- Reporting the deal to the district office on time and, for a non-resident, a remittance report at a foreign exchange bank.
- Payment of the balance, acquisition tax and registration of title in the court registry.
Taxes and costs
| Payment | Rate |
|---|---|
| Acquisition tax on a first home | 1% to 3% depending on price, plus related local taxes |
| Second and further homes in regulated areas | higher rates up to 12% |
| Annual property tax | paid by the owner; expensive homes also pay a comprehensive real estate tax |
| Agency and registration fees | at set tariffs depending on price |
We will calculate online the full purchase cost for your budget: taxes, fees and transaction costs.
Money for the purchase
A non-resident transfers the purchase money through an authorised foreign exchange bank and reports the property acquisition to the bank. This is also needed to take the money back out legally after a sale. Korean banks rarely lend to foreigners, usually only to residents with a steady income in Korea, so purchases are more often financed with own funds.
Homes with a tenant
In Korea leases with a large deposit are common: the tenant pays it instead of monthly rent and gets it back at the end of the term. If such a tenant lives in the flat being bought, the obligation to return the deposit passes to the buyer. So we check the leases and deposit amounts before the deal and factor them into the price.
Residence
Buying a home in Seoul does not give residence. On Jeju Island and in certain resort zones there is a residence programme for investors in resort property, and a foreigner investing in a Korean company can obtain an investor visa. We choose the right basis for your case.
Risks to know about
- The rules for foreigners in the capital region may be extended again or tightened.
- Breaching the residence obligation leads to penalties.
- Prices and taxes on multiple properties are high, so buying as an investment is currently limited for foreigners.
What we do
Murblz specialists check whether the property falls in a permit zone, prepare the permit application and residence documents, check the property in the registry, and support the contract, deal and remittance reports and title registration. If you need residence, we choose a basis. We fix the estimate in writing.
What we do
- Property shortlist for your investment goal
- Legal due diligence on the property
- End-to-end transaction support
- Ownership structuring (company, trust)
- Property management and letting
See also
Company formation · Business account · Personal account · Country taxes · All country programs
FAQ
Can a foreigner buy a flat in Seoul?
Where in Korea is it easier for a foreigner to buy?
What taxes apply when buying a home in Korea?
Does buying property give residence in Korea?
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Investing in property in South Korea?
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