Chinese nationals own majority of foreign-owned housing in Korea

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Chinese nationals own majority of foreign-owned housing in Korea

Published: 29 Nov. 2024, 10:04

Apartment complexes in central Seoul [YONHAP]

Chinese nationals accounted for 56 percent of all housing units owned by foreigners in Korea, data showed Friday.

According to the data from the Ministry of Land, Infrastructure and Transport on the home ownership of foreigners, Chinese nationals owned 52,798 out of the 95,058 housing units registered under foreign nationals in the country as of the end of June.

The number of homes owned by Chinese nationals grew 4.9 percent from six months earlier.

Following Chinese, Americans owned 21,360 units, or 22.5 percent of the total. Canadians, Taiwanese and Australians came next, with 6.5 percent, 3.5 percent and 2 percent, respectively.

The majority of housing units owned by foreigners were located in and around the capital Seoul. The largest number was in Gyeonggi, with 38.7 percent of the total, followed by Seoul with 24.3 percent and Incheon with 9.9 percent.

Yonhap