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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?
- Can foreigners buy land in Korea?
- Can foreigners get mortgages in Korea?
- What taxes do I need to pay when buying property in Korea?
- Can I get a residence permit if I buy property in Korea?
- Can I rent out my property as a non-resident foreigner?
- Where should I buy property in Korea?
- Property prices in Korea
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: