Category: Korea

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

Investing in Korea Commercial Property: Foreign Buyer’s Guide

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Korea’s residential and commercial property markets have seen much investment recently. Locals have started to complain about rising prices and the government imposes higher taxes to cool down the market.

Cities like Seoul attracts many investors thanks to preferable ownership regulations, having a strong economy, and a bright future outlook.

We see large foreign corporations such as WeWork and Marriott expanding quickly in Korea, trying to grasp market shares.

Yet, before you invest in commercial property here, you must get your feet wet and learn about the market and local regulations first.

In this article, we review the following:

  • Can foreigners buy commercial property in Korea?
  • Buying Property through Companies and Trusts
  • Korea’s Commercial Property Market
  • Hotels
  • Office Space
  • Retail Property
  • Industrial Real Estate and Warehouses
  • Car Parks
  • Best Cities to Buy Commercial Property in Korea
  • Commercial Property Taxes

Can foreigners buy commercial property in Korea?

Foreigners don’t have any particular issues to buy residential or commercial property in Korea. With that said, there are three laws you need to comply with:

Continue reading Investing in Korea Commercial Property: Foreign Buyer’s 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?
Click here to get in touch with an experienced agent

Korea becomes an increasingly popular among foreign property buyers.

It’s not strange, as it has one of the region’s strongest economies, is politically stable and expected to grow much in the coming decades.

In fact, Korea will even surpass Japan in terms of GDP per capita within the near future and continues to excel in a number of industries.

Yet before you buy property in Korea, it’s important that you know about foreign ownership regulations, property taxes, if you can get a visa or residency when buying property and more.

In this article you’ll learn the following:

Can foreigners buy property in Korea?

Foreigners don’t have any particular issues to buy residential or commercial property in Korea.

But you need to do thorough research and follow some regulations related to foreign ownership, especially if you’re a non-resident. In such case, you need to comply with the following acts:

Continue reading How to Buy Property in Korea: A Complete Guide

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

Posted on by Marcus Sohlberg — 11 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.

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

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.

Continue reading Top 6 Property Developers in Korea: A Complete Guide

Top Real Estate Agencies in Korea: The Ultimate Guide

Posted on by Marcus Sohlberg — 2 Comments

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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 more about some of the biggest and most reputable agencies in Korea.

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

Continue reading Top Real Estate Agencies in Korea: The Ultimate Guide

Buying a Property in Seoul: The Definitive Guide

Posted on by Marcus Sohlberg — 1 Comment

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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.

Continue reading Buying a Property in Seoul: The Definitive Guide