More land owned by non-nationals
The ministry said the percentage of foreign-owned land increased by 3.8 square kilometers, or 1.9 percent from the end of last year.
In the first half of the year, overseas nationals bought 7.42 and sold 3.62 million square meters of land.
With last year's addition, foreign citizens now own 201.9 million square meters of land with an estimated value of 27.8 trillion won ($29.5 billion).
Foreigners now own 0.2 percent of the country's land, the ministry said. The size of land owned by non-nationals is more than 10 times bigger than Bundang, a satellite city south of Seoul.
This year's real estate purchases were led by ethnic Koreans with foreign citizenship and foreign-owned corporations. Overseas Koreans bought 5.93 square kilometers, which accounts for 79 percent of the total amount of foreign real estate purchases this year, followed by joint ventures between local and foreign-owned corporations that accounted for 13.2 percent. Foreign corporations and individuals took up 3.9 and 3 percent, respectively.
By use, land bought for family burial grounds and other non-residential uses accounted for 53.2 percent, followed by land for residential use, which was 39.2 percent.
Factory sites and land for commercial use amounted to 9.5 and 2.8 percent of total real estate purchases by foreign buyers.
The biggest-ever increase in the rate of foreign land ownership was 60.6 percent in 1999. Korea's real estate market was opened to foreigners in 1998. Foreign-owned land has been increasing at less than 8 percent per year since 2002.
웹사이트: http://www.mltm.go.kr
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2008년 7월 4일 15:59