How to Buy Property in Korea: A Complete Guide

Posted on 4 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 2 Comments

buying-jeju-island-property

Do you plan to buy property in Korea?
Click here to get in touch with an experienced agent

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

5 Countries Where Foreigners Can Buy Land in Asia

Posted on Leave a comment

asian-landscape

Do you plan to buy property in Asia?
Click here to get in touch with an experienced agent

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.

Continue reading 5 Countries Where Foreigners Can Buy Land in Asia

Top 6 Property Developers in Korea: A Complete Guide

Posted on Leave a comment

korea-property-developers

Do you plan to buy property in Korea?
Click here to get in touch with an experienced agent

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 Leave a comment

korea-real-estate-agencies

Do you plan to buy property in Korea?
Click here to get in touch with an experienced agent

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 Leave a comment

buying-property-seoul

Do you plan to buy property in Korea?
Click here to get in touch with an experienced agent

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