SEOUL, Jan. 26 (Korea Bizwire) — Foreigners’ building transactions in South Korea reached an all-time high in 2020, with deals soaring in the Seoul metropolitan area, data showed Tuesday.
Foreigners’ transactions of housing and commercial buildings in Asia’s fourth-largest economy came to 21,048 last year, up 18.5 percent from a year earlier, according to the data from the Korea Real Estate Board.
It marked the first time that the number of foreign property transactions exceeded the 20,000 mark.
It was also the largest annual tally since January 2006, when the board started tracking related data.
Since passing the 10,000 level in 2014, foreign building transactions had been on the rise before falling 11 percent on-year in 2019.
Gyeonggi Province, surrounding the South Korean capital, reported the most transactions at 8,975, followed by Seoul with 4,775 and the western port city of Incheon with 2,842.
In particular, Seoul posted a 22.9 percent increase from the 3,886 transactions recorded a year earlier, according to the data.