What new reporting rules will foreigners face when buying property in South Korea starting Tuesday?

Foreign buyers must disclose visa status and whether they qualify as legal residents when filing transaction reports. They will also have to provide information on overseas bank deposits, foreign loans and offshore financial institutions.

Why is the government tightening real estate rules for foreign buyers now?

The land ministry said the move is meant to prevent speculative property purchases involving suspicious overseas funds. It follows a government probe last year that found 416 suspected illegal real estate transactions involving foreign buyers.

What enforcement steps will follow the new foreign home purchase rules?

The ministry said joint inspections with local governments will begin in March. It also plans additional investigations into abnormal transactions and illegal overseas fund inflows starting in August.

Gov't to tighten real estate purchase rules for foreigners to curb speculative deals

Listen

Summary

The government will begin enforcing tighter real estate transaction rules for foreigners in South Korea this week to curb speculative purchases using suspicious overseas funds. Foreign buyers signing contracts starting Tuesday must disclose visa status, legal-resident status, and additional funding sources when reporting transactions. The land ministry said the measures follow a probe that found 416 suspected illegal cases last year. Joint inspections with local governments are set to start in March, with additional investigations beginning in August.

Key Facts

Foreign nationals who sign property purchase contracts starting Tuesday must disclose their visa status and whether they qualify as legal residents when filing transaction reports.
Foreign buyers will also have to report overseas bank deposits, foreign loans and offshore financial institutions as part of property funding disclosures.
The ministry said proceeds from stock and bond sales, as well as cryptocurrencies, will also be newly required when used to buy homes.
A government probe last year identified 416 suspected cases of illegal real estate transactions involving foreign buyers and referred them to customs, immigration and police authorities.
The ministry plans to launch joint inspections with local governments starting in March and additional investigations into abnormal transactions and illegal overseas fund inflows beginning in August.

By Yonhap

Published Feb 9, 2026 11:17 am KST

Apartment complexes in Seoul viewed from Mount Nam, Feb. 2 / Yonhap

The government will begin enforcing tighter real estate transaction rules for foreigners this week to prevent speculative property purchases involving suspicious overseas funds, the land ministry said Monday.

Under a revision to the enforcement rules of the Real Estate Transaction Reporting Act, foreign nationals who sign property purchase contracts starting Tuesday will be required to disclose their visa status and whether they qualify as legal residents when filing transaction reports to local authorities.

Inclusion of information regarding overseas bank deposits, foreign loans and offshore financial institutions will be also be newly required. Currently, only local deposits and financial institutions are required for foreigners when reporting home purchases.

Proceeds from stock and bond sales, as well as those from cryptocurrencies, will also be newly required when used as part of the funds to purchase a home here, according to the ministry.

The measures follow a government probe last year that identified 416 suspected cases of illegal real estate transactions involving foreign buyers, which have been referred to customs, immigration and police authorities.

The ministry said it plans to launch joint inspections with local governments starting in March and additional investigations into abnormal transactions and illegal overseas fund inflows beginning in August.

Explore More