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[THE INVESTOR] Chinese investors are rapidly expanding their presence in Seoul’s real estate market, data showed on Aug. 12.
According to government data, the number of plots in Seoul held by Chinese nationals rose 10.2 percent during the first three months of the year.
At the end of last year, 3,192 plots were held by Chinese nationals, and the figure at the end of the first quarter of this year came to 3,516.
According to the data, Chinese real estate investments in Seoul have been rising 40 percent each year since 2013.
The combined value of real estate held by Chinese nationals at the end of last year stood at about 788.45 billion won (US$714.30 million), according to official government figures. Calculated using the real transaction prices, the figure is considered likely to be over 1.5 trillion won.
By Choi He-suk (cheesuk@heraldcorp.com)
According to government data, the number of plots in Seoul held by Chinese nationals rose 10.2 percent during the first three months of the year.
At the end of last year, 3,192 plots were held by Chinese nationals, and the figure at the end of the first quarter of this year came to 3,516.
According to the data, Chinese real estate investments in Seoul have been rising 40 percent each year since 2013.
The combined value of real estate held by Chinese nationals at the end of last year stood at about 788.45 billion won (US$714.30 million), according to official government figures. Calculated using the real transaction prices, the figure is considered likely to be over 1.5 trillion won.
By Choi He-suk (cheesuk@heraldcorp.com)
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