Category: Korea

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

Posted on by Marcus Sohlberg — 15 Comments

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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 Definitive Guide

Posted on by Marcus Sohlberg — 1 Comment

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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 Definitive Guide

How to Buy Property in Korea: A Complete Guide

Posted on by Marcus Sohlberg — 5 Comments

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

Do you plan to buy property in Korea?
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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

Posted on by Marcus Sohlberg — 2 Comments

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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

Buying Land in Korea: The Complete Guide

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Korea is undoubtedly one of the easiest countries to buy real estate in Asia and foreign investors have poured in during the past years.

This has left the country with uncontrolled price increases and locals are putting more pressure on the government to curb sales.

Despite its small size, Korea offers plenty of investment opportunities for land buyers. Jeju Island, Seoul, Busan, and Incheon are just examples of places that have become increasingly targeted by foreigners.

Even if it’s fairly easy and transparent to acquire land in Korea, you should understand what regulations that apply to foreigners and how you can find land for sale. Therefore, I decided to write this article. Continue reading Buying Land in Korea: The Complete Guide

How to Buy Hotels in Korea: An Overview

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The hotel industry has grown much in Korea in the past years mainly thanks to increasingly more tourists from China, but also Vietnam, Japan, and other regional countries.

Plenty of international hotel operators have opened new hotels in cities like Seoul and Busan and companies like Marriott are bullish on the market. Domestic traveling grows here as well, especially among young Koreans, that have a strong purchasing power.

With a promising economy and growing population, experts predict that the economy will perform well in the coming years.

However, investing in Korea hotels can seem like a challenging task with foreign eyes and requires that you do due diligence and work with a credible partner.

In this article, we review the following topics:

  • Can foreigners buy hotels in Korea?
  • The Hotel Market in Korea
  • Best Cities for Hotel Investments in Korea
  • How can I find hotels for sale in Korea?
  • How much do I have to pay my real estate agent?
  • What are the biggest hotel operators in Korea?

Can foreigners buy hotels in Korea?

Korea brings similarities to Japan where property ownership regulations are practically identical between foreigners and locals. Yet, both countries are renowned for exerting a high level of bureaucracy. Continue reading How to Buy Hotels in Korea: An Overview