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Composite score based on yield, appreciation potential, market liquidity, and risk factors.
City Profile
Demographics & City Overview
👥
City Population
9.7M
🏙️
Metro Area
25.6M
📉
Population Growth
-0.2% / yr
🎂
Median Age
43 yrs
✈️
Expat Population
3%
💰
GDP per Capita
$38K
📊
Unemployment
2.7%
🕐
Time Zone
UTC+9
🏛️
Founded
18 AD
🗣️ Languages
Korean
🌤️ Climate
Humid continental — cold winters, hot humid summers
Legal & Tax
Buying as a Foreigner in Seoul
Foreigners may buy freely
South Korea allows foreigners to purchase property without restrictions. A foreigner registration certificate or passport is required.
Acquisition tax 1–3%
Acquisition tax ranges from 1% (under KRW 600M) to 3% (over KRW 900M). Additional local education tax and special tax apply, totalling 1.1–3.5%.
Jeonse system — unique rental structure
Korea's jeonse system allows tenants to pay a large lump-sum deposit (50–80% of property value) instead of monthly rent. Landlords use the deposit interest-free. Understand this before investing.
Heavy transaction taxes for multiple owners
Owners of 2+ properties in regulated areas face acquisition taxes of 8–12%. Designed to cool speculation — check current ownership count before buying.
This information is for general guidance only and does not constitute legal advice. Always consult a qualified local lawyer before purchasing property abroad.
Buyer's Guide
How to Buy in Seoul
Open to ForeignersForeigners may purchase property freely with a passport. Foreigner registration certificate recommended.
1
Obtain foreigner registrationRequired
Register at local immigration office to get Alien Registration Card (ARC). Required for property transactions.
1–2 weeks
2
Sign purchase agreementRequired
Sign 매매계약서 (sale contract) with 10% deposit. Verify registration certificate (등기부등본) for liens.
1–3 days
3
Balance paymentRequired
Pay remaining balance on agreed date. Seller vacates property.
1 day
4
Ownership transfer registrationRequired
Register ownership transfer at local court registry office. Pay acquisition tax.
1–2 weeks
5
Report to Bank of KoreaRequired
Foreign buyers must report property acquisition to Bank of Korea within 6 months.
1 day
Pro tip: Always check the 등기부등본 (registration certificate) for any liens, mortgages, or encumbrances before signing. This document is available online at the Supreme Court registry system (www.iros.go.kr).
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