A total of 5,678 Seoul apartments are owned by U.S. nationals, including Korean Americans, according to data released by Jun-Ho Jung of the Democratic Party. As of late last year, more than 60% of purchases by U.S. nationals were concentrated in the so-called Han River Belt—districts such as Gangnam, Mapo, Yongsan, and Seongdong.
By district, Gangnam had 1,028 units, Seocho had 742, and Songpa had 458, totaling 2,228 apartments across the three Gangnam districts.
Chinese nationals ranked second in ownership, but their choices differed sharply. They owned 610 apartments in Guro, 284 in Yeongdeungpo, and 150 in Dongdaemun, while the Gangnam area accounted for only 159 units. Following China were Canada (1,831 units), Taiwan (790), Australia (500), the United Kingdom, France, and Germany (334 combined), New Zealand (229), and Japan (220).
Citing an analysis by the Korea Construction Policy Research Institute, Jung noted that foreign real estate ownership in Korea is bifurcated between investment-driven purchases of high-value homes in Gangnam and residential demand in areas like Guro.
