The Chinese Show Interest in Residential Properties

A group of about 100 Chinese tourists visited the display home of SK Sky View apartment located in the Namgu District in Incheon. (image:SK Engineering & Construction)

SEOUL, Korea, Jan 29 (Korea Bizwire) –  It’s not news any more that the Chinese tourists are buying up luxury goods at Korea’s department stores and duty free shops. But now they are showing keen interest in real estate properties all across the country. Some group tourists even visit show houses as part of their itineraries.

For example, a group of about 100 Chinese tourists visited the display home of SK Sky View apartment located in the Namgu District in Incheon. The apartment complex, consisting of 3,971 units in 26 high-rise buildings, is currently under construction by SK Engineering & Construction. According to the travel agency, the visit was arranged at the request of the tour group.

A tourist who came with the group said, “I was so impressed with the upscale amenities and the inexpensive price. It was below the 9-million-won level per pyong [3.3 square meters]. For a comparable unit in Shanghai, we have to pay more than 40 million won.”

Another visitor commented, “In China, all interior must be furnished by the tenant even including the wall paper. But here in Korea everything is fully in move-in condition and I feel like I am in a luxury hotel room.”

Lim Dong-jun, head of Incheon’s SK Sky View apartment management office, said, “The Chinese visitors asked me so many questions about the details on how to buy an apartment unit and whether they will be issued a permanent resident card after purchase of a real estate property. It seems they are turning to the residential property market after taking interest in luxury goods shopping.”

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