Increased Purchases of Seoul Apartments by Non-Residents: A Three-Year High
As apartment prices in Seoul continue to rise, there has been a notable increase in the number of non-residents buying apartments in the city As apartment prices in Seoul continue to rise, there has been a notable increase in the number of non-residents buying apartments in the city. This article explores the recent surge in Seoul apartment purchases by non-residents, the factors driving this trend, and its potential implications. Recent data indicates a significant increase in the number of non-residents purchasing apartments in Seoul, driven by the ongoing rise in property prices. According to Korea Real Estate Board, the number of apartment transactions in Seoul reached 6,150 in June, marking an 18.6% increase from the previous month. Among these transactions, 1,396 were made by buyers residing outside of Seoul, representing a 31.3% increase compared to the previous month. This figure is the highest since December 2020, when 1,831 transactions were recorded. The trend of non-residen...