Want to buy property in Korea? Here are the new rules 🏠

Let me walk you through something big that just changed in Korea’s real estate world. From August 26, 2025, non resident foreigners now face stricter rules when buying residential property in the Seoul Metropolitan Area. So, which areas are covered? Basically the entire Seoul City, 7 districts in Incheon like Jung-gu, Yeonsu-gu, and Namdong-gu, plus 23 cities in Gyeonggi Province including Suwon, Seongnam, Goyang, Yongin, and Paju. If you’re eyeing property in the SMA, you need to know these rules. - Now, who exactly is affected? The policy targets non-resident foreigners, meaning people without Korean nationality, foreign companies, and anyone who doesn’t actually plan to live in Korea. In simple terms, if you’re not moving in, you can’t buy. But if you really want to buy, here’s the deal: - You must get approval from the local office. - You need to move in within 4 months. - And you must live there for at least 2 years. What if you don’t follow through? Local governments can slap you with a compliance order. Ignore that, and you’re looking at a fine of up to 10% of the property’s value and it can be repeated until fixed. On top of that, be ready for stricter paperwork like funding source reports, proof of visa status, and even on-site inspections. So if you’re planning to buy here, do your homework first. Korea’s housing game just got a lot more serious 🇰🇷 And yes, keep 'KLik'ing for more useful information.