Government data showed that foreign purchases of homes in Seoul fell by more than half after the city was designated as a real estate zone requiring prior approval.
The Ministry of Land confirmed that housing transactions in the greater Seoul metropolitan area declined between September and December 2025 following the implementation of the decision in late August.
The measure requires foreigners to obtain prior approval to purchase homes in designated areas for one year, until August 25, according to Yonhap News Agency.
The data showed that foreign transactions in the greater capital region — Seoul, Gyeonggi Province, and Incheon — fell by 35%, totaling 1,481 deals compared with 2,279 in the previous year.
Seoul recorded the steepest decline at 51%, dropping to 243 transactions from 496. Gyeonggi Province and Incheon also posted declines of 30% and 33%, respectively. By nationality, purchases by Chinese buyers decreased by 32% to 1,053 transactions, while purchases by Americans fell by 45% to 208 deals.
