Category: Korea

Top 8 Property Management Companies in Korea

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South Korea’s residential and commercial real estate markets have surged, at the same time as other countries faced headwinds during the pandemic.

In recent years, more foreign investors have become attracted to the commercial real estate market thanks to its strong economy, promising demographics, and growing industrial and eCommerce sector.

While most property management companies cater to individual house owners in places like Australia and New Zealand, you’ll mostly find large-sized multinationals that are involved in the commercial real estate market in Korea.

In this article, we review the top property management companies, reviewing their services and history.

1. CBRE Korea

CBRE (Coldwell Banker Richard Ellis) is the biggest real estate company in the world and is headquartered in the US. It’s a leading property management service provider and is active in most Asian markets.

With 20 years of experience in the Korean market, they have more than 90 professionals managing 93 buildings, covering an area of more than 4 million square meters. Continue reading Top 8 Property Management Companies in Korea

Buying Property in Busan: A Complete Guide

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Referred to as the ‘City of Happiness’, Busan is the second-biggest city in South Korea and the commercial hub in the Southern parts. In contrast to Seoul, it’s well-known for its beaches, seafood, and shipbuilding capabilities.

The fifth-largest port in the world is located here and domestic companies have set up major manufacturing operations here. Worth mentioning is that the cost of living and real estate prices are well below what you can find in Seoul.

This makes Busan a more attractive option to some investors. In this article, I explain the basics you need to know when buying property in Busan.

Topics covered:

  • Can foreigners buy property in Busan?
  • Purchasing Industrial Property and Warehouses
  • Busan’s Property Market
  • Areas to Buy Property in Busan

Can foreigners buy property in Busan?

Foreigners have no issues buying property in Busan and are practically treated in the same way as locals. Continue reading Buying Property in Busan: A Complete Guide

Buying an Apartment or House on Jeju Island: A Foreigner’s Guide

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Jeju Island is a self-governing island located in the Korea Strait. Foreigners mainly get attracted to its waterfalls, clear water, low crime rates, peaceful atmosphere, and UNESCO World Heritage Sites.

With a population of only around 660,000 people, this small island attracts more than 15 million visitors a year, which is kind of astonishing.

Thanks to its visa-friendly policies and the ease of getting permanent residency, Jeju Island has sprung to become the top choice for foreign investors in Asia.

In this article, I explain the basics you need to know when buying real estate as a foreigner on Jeju Island.

Topics covered:

  • Jeju Island’s Real Estate Market
  • Political Issues
  • Where should I buy property on Jeju Island?
  • Jeju Island Visa Regulations
  • Property Prices

Jeju Island’s Real Estate Market

Jeju Island was previously considered a great market for investments in hospitality properties, including resorts, villas, and vacation homes. Continue reading Buying an Apartment or House on Jeju Island: A Foreigner’s Guide

Buying Real Estate in Seoul: The Complete Guide

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Seoul is the home for half of South Korea’s population and has developed to become an alpha city worldwide.

I’ve already explained Korea’s astonishing growth in separate articles. In the 1970s, it had the same GDP per capita as Thailand and the Philippines but is now one of the most developed countries in the world.

Not surprisingly, Seoul gets most of the attention and where foreigners and locals are most willing to invest in real estate.

With that said, you must get your feet to learn about local buying regulations, the property market, the best districts to buy real estate before you engage in the market.

Topics covered:

  • Seoul’s Property Market
  • The Best Districts to Buy Property
  • Real Estate Agents in Seoul
  • How much does it cost to buy a house in Seoul?

Seoul’s Property Market

Seoul is, together with Jeju Island, the most popular option to buy residential property in South Korea. Continue reading Buying Real Estate in Seoul: The Complete Guide

How to Buy Property in Korea: A Complete Guide

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Suggestion: Watch the 5 minutes video tutorial before reading this article

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Korea has experienced some of the most impressive growths in the past decades, which I personally believe deserves more attention.

From having a GDP per capita on par with the Philippines and Thailand in the 1970s, it has developed into becoming a leading manufacturer of everything from food products, cosmetics, cars, automotive parts, ships, and electronics.

This was primarily a result of US-backing, an export-oriented economy, and land reforms. Previously, companies were not granted loans from banks unless they met a certain quota of exports, for example.

While Korea’s eCommerce market is one of the fastest-growing in the world, its manufacturing industry experiences great growth rapidly, and it will overtake Japan in GDP per capita by 2025.

Looking at its real estate market, foreigners predominantly buy real estate for personal reasons and yields are always not the most important. In this article, I explain how you can buy real estate in Korea, covering a wide range of topics.

Topics covered:

Can foreigners buy property in Korea?

Korea is one of a few Asian countries where you can buy residential and commercial property without restrictions as a foreigner. You are treated on a similar level as locals, something that’s rare for Asian countries. Continue reading How to Buy Property in Korea: A Complete Guide

Top 10 Real Estate Agencies in Korea: The Ultimate Guide

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Korea has a developed real estate market and ownership regulations are almost similar between locals and foreigners. Here, you’re not only allowed to buy commercial real estate on a freehold basis but also land.

With that said, some foreigners find it difficult to find real estate agents that can help them finding residential or commercial real estate in cities like Seoul, Busan, or on Jeju Island.

In this article, I list the top real estate agents available in Korea, explaining their history, services, and more.

1. Colliers International Korea

Founded in Canada in 1898, Colliers was originally called Macaulay Nicolls Maitland but merged with an Australian real estate company, Colliers, to expand their operations globally.

Colliers now has 396 offices with more than 15,000 employees in 69 countries and is considered a market-leader. Continue reading Top 10 Real Estate Agencies in Korea: The Ultimate Guide

Top 7 Property Developers in Korea: A Complete Guide

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Kore has a developed and large-sized real estate market that is well-known for struggling with ever-increasing prices, a reason why the government has informed new measures to curb investments.

With that said, there aren’t that many foreign property developers operating in Korea, you can mainly find a handful of big local companies that control the market.

Many foreigners ask what the biggest and most popular real estate developers are in Korea, therefore I’ve written this article where I list the most renowned brands.

1. Dongbu Corporation

Established in 1969, Dongbu Corporation is one of the oldest and most recognized property developers in Korea. It’s part of one of the country’s biggest conglomerates, the Dongbu Group.

The company has several subsidiaries working in real estate, manufacturing, shipping, insurance, chemical industry, and finance. Some include DB Insurance (Forbes 2000 Company), DB Savings Bank, DB Hitek, and DB Capital.

Dongbu Corporation was founded by Junki Kim as Miryung Engineering & Construction but later changed its name to the Dongbu Corporation in 1989. The head office is based in Seoul. Continue reading Top 7 Property Developers in Korea: A Complete Guide

How to Buy Industrial Real Estate in Korea: A Full Guide

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Korea is one of the most developed countries in Asia and has seen a great transformation in the past decades. A few decades back, it had a similar GDP per capita as the Philippines. After the war, it was even one of the poorest countries in the world.

Over the years, industries like shipbuilding, transportation, automotive, and consumer goods are just a few examples where Korea has positioned is self as a market leader.

Having one of the fastest-growing eCommerce markets globally, the logistics industry is transforming as well. This is something I will tap into later in this article.

Today, we review how foreigners can invest in industrial real estate and warehouses in Korea.

Topics covered:

  • Can foreigners buy industrial real estate in Korea?
  • Korea’s Industrial Real Estate Market
  • Primary Industrial Clusters
  • How can I find industrial real estate for sale?
  • Taxes

Can foreigners buy industrial real estate in Korea?

Foreigners have no particular restrictions to invest in industrial real estate in Korea, you can even own land on a freehold basis.

With that said, there are some regulations you have to abide by. Continue reading How to Buy Industrial Real Estate in Korea: A Full Guide

Investing in Korea Office Space & Buildings: A Foreigner’s Guide

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Seoul continues to climb in the rankings of Global Financial Competitive Indexes and gains increasingly more interest from investors. It’s also called the best digital city in the world with an economy that outperforms many of its neighboring peers.

Investing in office space and buildings is fairly straight-forward in Korea and Seoul. It also has one of the most developed REIT markets in the world.

In this article, I explain all the basics you need to know when investing in Korean office space and buildings.

Topics covered:

  • Can foreigners buy office space in Korea?
  • Korea’s Office Market
  • Office Prices in Seoul
  • How much does it cost to buy a building in Korea?
  • Property Taxes When Buying Office Space and Buildings
  • How can I find office space for sale in Korea?

Can foreigners buy office space in Korea?

Foreigners generally don’t have any issues to invest in commercial real estate in Korea. The country has a transparent and developed market where there is no need to set up a local company, for example, before you can get hold of office space. Continue reading Investing in Korea Office Space & Buildings: A Foreigner’s Guide

Investing in Korea REITs: The Ultimate Guide

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Korea’s commercial real estate market has performed well in the past years and attracted more local as well as overseas investors. Yet, not only have the Koreans got more involved in the domestic REIT market but also overseas markets like the Japanese.

Investing in Korean REITs is fairly straight forward, but there are details you should be aware of when it comes to getting started and what to pay attention to. In this article, I explain the basics you need to know before you start investing in Korean REITs.

Topics Covered:

  • Can foreigners buy REITs in Korea?
  • How can I invest in REITs in Korea?
  • The Korean REIT Market
  • What are the benefits of buying REITs in Korea?
  • List of REITs in Korea

Can foreigners buy REITs in Korea?

Investing in Korean stocks and REITs is similar to that of Japan and foreigners have no particular ownership restrictions. You can own a company outright here and don’t have to deal with local and complex nominee structures. Continue reading Investing in Korea REITs: The Ultimate Guide