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.