Chinese people’stay away’ while domestic loans are blocked
Foreign transactions last year
Areas of accredited brokerage offices in downtown Seoul (Photo = News 1)
It was found that last year, when the real estate turmoil in Korea, foreign real estate transactions reached the highest in the last five years.
According to the data submitted by the Office of the People’s Power of the People’s Power, Kim Seong-won from the Ministry of Land, Infrastructure and Transport and released on the 16th, the foreign real estate transaction volume last year was 26,896 (about 11,2409 billion won).
Previously, the current status of foreign real estate transactions in Korea was 21,452 cases in 2016, 2441 cases in 2017, 26,422 cases in 2018, and 23,933 cases in 2019.
However, it has returned to the rebound last year, when the government’s real estate measures were poured out.
In particular, Chinese real estate transactions in Korea accounted for more than half of them. Analysis says that while domestic loans were blocked due to the government’s real estate regulation policy, Chinese people “picked up” (picked up and picked up) real estate.
Chinese people accounted for 51.3% (13,788) of the total foreign trade volume last year. Even if the total trading volume of investors around the world including the US (7043 cases) is combined, it does not reach China. The number of Chinese real estate transactions was 7694 cases in 2016, the last government, but last year, 13,788 cases, which increased by 79.2% in four years.
The largest number of real estate transactions in the metropolitan area were Chinese, with 1,793 cases. They also intensively invested in the southwestern regions of Guro-gu, Geumcheon-gu, Yeongdeungpo-gu, and Gangseo-gu in Seoul.
Experts believe that as the government’s regulations on real estate loans have been strengthened, real estate transactions for speculation by foreigners with relatively free financing have increased. In addition, when foreigners borrow money from their own financial institutions to buy a domestic apartment, the loan regulation does not apply. Unlike Koreans, it is difficult to identify families, so regulation of multi-homes is also difficult.
In fact, after entering Korea for the purpose of studying abroad, Chinese people in their 30s who were subject to the tax audit by the National Tax Service bought 8 apartments in Seoul as well as nationwide and received a large amount of monthly rent, but the source of the funding was unclear.
In the National Assembly, a bill aimed at limiting foreign real estate speculation was proposed, but it was not passed because it violated reciprocity.
Rep. Kim Seong-won said, “It’s like the Chinese people went to K-real estate’give up’ because the people’s hands and feet were tied up due to the government’s regulatory policy.” I want to decline.”
Reporter Kim Myung-il, Hankyung.com [email protected]
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