Can Foreigners Still Buy Property in Korea?

1. What’s Happening
   Foreigners can still buy property in Korea, including apartments, officetels, and land. However, the buying process now requires more documentation, such as reporting purchases to local government offices and following stricter verification steps. Some districts have tightened oversight due to concerns about speculative buying, and banks are more cautious when issuing loans to non-residents. While ownership remains legal, financing, tax compliance, and regulatory procedures have become more complex.

2. What It Means
   The Korean government is not blocking foreign ownership, but it is signaling a desire for more transparency and reduced speculation. For foreign buyers, this means the biggest barriers are administrative—not legal. Cash buyers face fewer hurdles, while those needing financing or living overseas may experience delays or limited loan options. These changes suggest Korea aims to balance open markets with greater control over housing stability.

3. Watch Points

• Any updates to foreign ownership reporting rules

• Bank lending policies for non-resident buyers

• Whether additional restrictions appear in overheated housing districts

Source
Arirang Insight. (2025). Foreign ownership rules and trends in the Korean property market. Internal analysis.