Can Foreigners Buy Property in Seoul? (2025 Permit Rules)
Yes — foreigners can still buy property in Seoul, but the rules changed significantly in 2025. Since late August 2025 the entire city is a Foreign Land Transaction Permit Zone, which means most foreign buyers now need government permission before they sign a contract. This guide explains who is affected, the residency obligations, the important officetel exception, and how the process works — in plain English.
The short answer
Foreigners can legally own real estate in South Korea, including in Seoul, with full ownership rights. What changed in 2025 is how you buy a home in Seoul: most residential purchases now require a land-transaction permit from the local district (gu) office before the contract is signed, and the permit comes with an obligation to actually live in the property. Renting is unaffected, and officetels are largely outside the new rule.
What changed in August 2025
To cool speculation, Korea's Ministry of Land, Infrastructure and Transport (MOLIT) designated all 25 districts of Seoul — along with 23 cities and counties in Gyeonggi Province and seven districts in Incheon — as Foreign Land Transaction Permit Zones, effective late August 2025.
Inside these zones, a foreign buyer must apply for and receive a land-transaction permit from the local district office before signing a purchase agreement for a home. As part of the application you submit a funding plan showing where the money comes from — for example overseas loans, foreign bank deposits, and the financial institutions involved.
Who the permit applies to
The requirement is based on where the property is, not on your visa. In a permit zone, everyone buying residential property is treated the same — Korean citizens, foreign residents with an ARC, non-resident foreigners, and foreign companies. Holding an F-2 (residence) or F-5 (permanent residence) visa does not exempt you. If you are buying a home anywhere in Seoul, plan for the permit.
The residency obligation (4 months / 2 years)
A permit to buy a home in Seoul is a use permit: after approval you must move into the property within four months and live there for at least two years. In practice the rule is aimed at people who will actually live in the home, not at buy-to-let investors. If you cannot meet the move-in and residency obligation, a standard apartment or house in Seoul may not be a realistic purchase right now.
The officetel exception
This is the most important exception for foreign buyers in Seoul. An officetel (오피스텔) is legally classified as a business-use facility (업무시설), not housing — so officetels generally fall outside the residential foreign-buyer permit regime. That makes them one of the few residential-style properties a foreigner can still buy in the capital without the permit and the two-year residency obligation. Because classification can depend on how a specific unit is registered and used, confirm the position for any particular officetel with your realtor before you commit.
What else is exempt
- Property outside the permit zones — in cities such as Busan, Daegu, or on Jeju Island, the older, simpler system still applies: no prior permit, but you must report the purchase to the local district office within 60 days of signing.
- Inheritance, gifts, and court-auction purchases are generally exempt from the permit requirement.
- Renting — jeonse and wolse leases are not affected at all.
How to buy a home in Seoul as a foreigner — step by step
- Get your paperwork ready — a passport, an Alien Registration Card if you have one, and a Korean bank account. Non-residents can buy too, but a local account makes payment and tax steps far easier.
- Find the property and agree terms with the seller through a licensed agent (gongin-junggaesa, 공인중개사).
- Apply for the land-transaction permit at the district (gu) office, including your funding plan. Your agent or a legal specialist usually handles this.
- Sign the contract once the permit is granted, and pay the deposit (typically around 10%).
- Report the transaction under the Real Estate Transaction Report Act and complete the foreign-acquisition report where required.
- Pay acquisition tax and register the title at the registry office, then complete the balance on the closing date.
- Move in within four months and keep the property as your residence for at least two years, as the permit requires.
Costs to budget for
Beyond the purchase price, budget for acquisition tax, registration and judicial-scrivener fees, the brokerage commission, and ongoing holding taxes (property tax and, for higher-value or multiple homes, the comprehensive real-estate tax). Rates depend on the price, property type, and how many homes you own, so ask your realtor or a tax professional for a figure specific to your purchase.
Prefer to rent?
If the residency obligation does not fit your plans, renting is straightforward and permit-free. Most foreigners start with jeonse (a large, fully refundable lump-sum deposit and no monthly rent) or wolse (a smaller deposit plus monthly rent).
How Seoul Homes helps
Every Seoul Homes listing is handled by a verified, English-speaking realtor who can explain the permit process, tell you whether a specific unit is affected, arrange viewings (including video tours from overseas), and guide you through the contract, tax, and registration steps. Browse listings or send an inquiry to get started.
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Can foreigners still buy property in Seoul in 2026?
Yes. Foreigners can legally own real estate in Seoul with full ownership rights. Since late August 2025, however, most residential purchases in Seoul require a land-transaction permit from the local district office before you sign the contract, plus an obligation to move in within four months and live there for at least two years.
Do I need a permit to buy if I have an ARC or an F-5 visa?
Yes. The permit requirement depends on where the property is, not your visa. Inside Seoul's permit zones, ARC holders and F-2 / F-5 residents are treated the same as everyone else and still need the permit.
Are officetels exempt from the permit?
Generally yes. Officetels are legally business-use facilities rather than housing, so they usually fall outside the residential permit regime — which makes them a practical option for foreign buyers in Seoul. Confirm the specific unit's classification with your realtor.
What is the 4-month / 2-year rule?
After a buying permit is approved, you must move into the property within four months and live there for at least two years. The rule is designed for owner-occupiers rather than investors.
Can foreigners buy property outside Seoul more easily?
Yes. Outside the permit zones — for example in Busan, Daegu, or on Jeju — the older system still applies: no prior permit, but you must report the purchase to the local district office within 60 days of signing.
Do I need to live in Korea to buy?
There is no general residency requirement to own property, and non-residents can buy. But inside Seoul's permit zones the permit's move-in and two-year residency obligation effectively requires you to live in the home you buy.
Is renting easier than buying for foreigners?
Much easier. Renting needs no permit and no residency obligation. Most foreigners rent on jeonse (a refundable lump-sum deposit) or wolse (a smaller deposit plus monthly rent).
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Last updated: 2026-06-15