The increase of land acquisition by foreigners at the first half of this year is higher than that of domestic transactions of property, and its land size also increased by 2.6% compared to last year
A survey done by MLTM shows that, as of June, foreigners own 215.9 ㎢, which is worth of 29.4295 trillion won. This is up by 5.5㎢, worth of 513.8 billion, from that of last year, which is 2.6 % increase in size and 1.8 % increase in price respectively.
As for transactions, the number of property transactions by foreigners increased to 3,232 at the first half of this year from 2,456 of last year, up by 31.6 %, which is higher that of domestic transactions of property (6.9%)
- As for foreign investment by land usage, about 778.5 billion won was invested for factory site acquisition last year, but this year that investment decreased to 675.6 billion won whereas the investment for land acquisition for residence and commerce increased to 957.8 billion won.
Among 215.9㎢ of land owned by foreigners as of June 30: By owners, overseas Koreans of foreign nationalities own 102.6㎢ (47.5%), joint stock companies, 80.4㎢ (37.2 %) and foreign corporations, 21.2㎢ (9.8%).
By nationality, the U.S. owns 124㎢ (57.4%), Europe, 33㎢ (15.2%), Japan, 19㎢ (15.2%) and China, 2.8㎢ (1.3%).
By land usage, the investment for after retirement age and profit-making has been made in 119.5㎢ (55.3%), for factory construction, 73.5㎢ (34.1%), and for private possession, (89.4%).
As for land acquisition and disposal from Jan. 1 to Jun. 30, land acquisition amounts to 9.7㎢ and disposal, 4.2㎢. It shows 5.5㎢ increase (2.6%) of land size owned by foreigners.
Among 5.5㎢ of increased land size: By owners, overseas Koreans of foreign nationalities own 3㎢(54.1%), foreigners, 2㎢(37.2%) and foreign corporations, 0.3㎢ (5.8%).
By nationality, the U.S. owns 3.3㎢ (60.1%), Europe, 0.88㎢ (15.8%) and China, 0.2㎢ (3.1%).
By land usage, the most of investment has been made in 4.7㎢ (84.7%) for after retirement age and profit-making, and 0.7㎢ for factory construction.