Category: Korea

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

Posted on by Marcus Sohlberg — 2 Comments

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Jeju Island has been a popular spot among foreign travelers and visitors. Some people claim that it’s one of the most beautiful islands they’ve ever visited. With waterfalls, a special local culture, crystal clear water and big green landscapes, it’s hard to disagree.

Foreign ownership regulations are also among the best in the region. And with the right amount of money, you’ll even get permanent residency when buying property. Sounds tempting?

Many people ask if it’s still a good bet to invest in Jeju Island. In this article, I explain the basics. Let’s start with the real estate market.

Jeju Island’s real estate market

Jeju Island was considered a good market for real estate investments in hospitality properties, like resorts, villas, and vacation homes, but the market has cooled down a bit.

This small island witnessed a boom in the real estate market during the past years, due to an increased influx of foreigners, especially Chinese. A well-known reason is because it’s located with proximity to some of the wealthier Chinese cities, like Shanghai and Beijing.

A lot of investment was made in land purchases, developments of new vacation homes, and beach resorts, again, mostly from China.

Favorable government policies have played a positive role for Chinese investments.

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5 Countries Where Foreigners Can Buy Land in Asia

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Asian countries have some of the most prominent and promising real estate markets in the world. While some foreigners prefer to buy condos, villas or apartments for investment or self dwelling purposes, you shouldn’t neglect the opportunities to buy land.

Personally, I believe that foreigners believe that it’s too hard to buy land, and from traditional reasons. But more and more people ask what opportunities they have when buying land in Asia. Unfortunately, there are not so many options available.

In this article, I list the 5 countries where you can buy and own land as a foreigner in Asia. Let’s have a look.

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Top 6 Property Developers in Korea: A Complete Guide

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Korea doesn’t receive as much attention as other Asian countries when it comes to real estate investment. Yet, you shouldn’t ignore this country.

With promising demographics and a GDP per capita that will surpass Japan’s in a couple of years, Korea has an interesting future ahead.

Still, you can only find a limited amount of local developers. At least in comparison to places like China and Singapore.

In this article, I’ve listed some of the biggest property developers in Korea. I will explain when they established, about the founders, what kind of property they build, and more.

Let’s have a look.

1. Dongbu Corporation

Established in 1969, Dongbu Corporation is one of the oldest and most well-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 in 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 name to the Dongbu Corporation in 1989. The head office is based in Seoul.

In addition to Korea, they’ve developed several infrastructure projects in other parts of the world.

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Top Real Estate Agencies in Korea: The Ultimate Guide

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Korea is an economic powerhouse in the Asian region and attracts a number of foreigners who are expats, wish to either settle down here or just want to invest in properties. Even in many locals decide to not go through real estate agents when buying property, it’s the only option available for many foreigners.

Most of the international real estate agencies have opened offices in Korea since years back, but you’ll also find local agencies who should be of interest. In this article I will explain about some of the biggest and most reputable agencies in Korea.

Introductory remark

The real estate agencies are listed in a random order.

1. Colliers International Korea

Founded in 1898 in Canada, originally named as Macaulay Nicolls Maitland, the company merged with an Australian property services company, Colliers, in order to expand their operation to a global level. They currently have 396 offices with more than 15,000 employees in 69 countries.

Under the lead of the CEO- John McLernon, Colliers International’s office in Korea is situated in Seoul with roughly 20 employees. The management team consists of a group of Korean nationals. In 2016, they won Best Overall Advisor & Consultant Award in Asia awarded by Euromoney Real estate Awards.

Property types

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Buying a Property in Seoul: The Definitive Guide

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Seoul is the prime spot for investors in Korea, most people also decide to live here, for studies or work.

I’ve been in Seoul myself and know that it’s a great city, offering all the amenities that many foreigners (and myself) want.

The fact is:

Korea gets increasingly popular and the amount of foreigners grows with a fast pace, especially in Seoul.

Even if property is a bit more expensive, compared to other countries, you can find good deals if you look in the right areas.

In this article I explain how you can buy property in Seoul, the capital of Korea.

Seoul property market

Seoul has long been the preferred option when foreigners buy residential and commercial properties in South Korea.

And it’s not surprising.

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How to Buy Property in Korea: A Complete Guide

Posted on by Marcus Sohlberg — 4 Comments

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

Do you plan to buy property in Korea?
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Foreigners have poured into Korea to buy property the past years.

It’s not strange as it has one of the region’s strongest economies and a proven record of being stable over the long term.

The country is leading when it comes to technology, hosts great universities and I assure that you’ll never get bored there.

In this article I’ll explain the basics you need to know when investing in a property in Korea.

Can foreigners buy property in Korea?

Foreigners generally don’t have any issues to buy a property.

But you need to do your research and follow some regulations, especially if you’re a nonresident. If you’re a nonresident, you’ll be subject to:

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