Can foreigners buy a house in Korea? How do I report it?

Yes, foreigners can buy a house (real estate) in Korea. However, you must report after acquiring it, and some land requires prior permission.

Can you buy?

• Foreigners can acquire real estate. However, restrictions may apply based on reciprocity to individuals and corporations from countries that ban or limit land acquisition by Korean citizens.
• Foreigners, etc. include foreign-national individuals, foreign corporations, foreign governments, and international organizations.³

Reporting deadline

• Acquired by a contract such as a sale: Report within 60 days from the contract date.
• Acquired for reasons other than a contract, such as inheritance or auction: Report within 6 months from the date you acquired it.
• Keeping property after a Korean citizen becomes a foreigner: Report within 6 months from the date of the change.

How to report

1. Fill out the Report on Acquisition or Continued Possession of Real Estate by Foreigners, and sign or put your seal on it.
2. Attach documents for the reason of acquisition. A gift needs a gift contract, inheritance needs documents proving the heir, and an auction needs the auction sale decision.⁵
3. Submit it to the reporting authority (the city, county, or district office (시·군·구청)).²
4. For a sale contract, you must also report the real estate transaction contract. Submit a Certificate of Alien Registration Facts (or a Certificate of Domestic Residence Report Facts) together with it.⁵

⚠️ Things to watch out for

• For land in military facility protection zones, designated cultural heritage sites, ecosystem and landscape conservation areas, and wildlife special protection zones, you must get permission from the reporting authority before signing the contract.
• A land acquisition contract signed without permission is not valid.
• If you miss the reporting deadline, you may face disadvantages such as a fine. The exact amount needs to be confirmed.

Please make a final check of the exact documents and procedures with your local city, county, or district office or the Foreigner Information Center (외국인종합안내센터) (1345).