Foreigners can own property freehold, including land, apartments and houses, with the same rights as Korean nationals. Outside the Seoul metropolitan area you simply report the purchase within 60 days; within it (Seoul, much of Gyeonggi and parts of Incheon) a government permit and a two-year residence commitment now apply.
Before you buy in South Korea, always:
General guidance only — rules change; confirm the current position with a qualified local lawyer.
Our free ownership checker and the Overseas Property Playbook walk through how foreign ownership works step by step — the questions to ask and the traps to sidestep.
One-off costs are moderate — acquisition tax of roughly 1-3% on a single home (plus small surtaxes), an agent commission of about 0.4-0.9%, and a legal scrivener's fee, totalling around 3-5% all-in. From February 2026 foreign buyers must disclose their visa status and source of funds, and buying an apartment in the Seoul metropolitan area now needs a government permit.
Seoul, where Itaewon and Hannam-dong are the long-standing international districts; the milder, coastal port city of Busan for a more relaxed pace; and green, volcanic Jeju Island, increasingly popular for slower subtropical living.
Excellent and affordable — foreigners staying more than six months must join the National Health Insurance Service, with premiums for a retiree commonly around 150,000-160,000 won a month, and the scheme covering roughly 60-80% of costs at world-class hospitals. You can walk into top hospitals with your NHI card. Very safe with low crime and superb infrastructure; English is limited outside younger, urban circles so some Korean helps, and they drive on the right.
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