Cover The penthouse at L’ARBRE 27, where Blackpink’s Jisoo recently purchased a unit in this ultra-private Seoul enclave offering just 27 exclusive residences with Han River views
The penthouse at L’ARBRE 27, where Blackpink’s Jisoo recently purchased a unit in this ultra-private Seoul enclave offering just 27 exclusive residences with Han River views
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Chinese and American buyers dominate Seoul’s foreign property market, accounting for over 78,000 homes, but the two groups rarely compete for the same districts, with stark geographic divisions emerging across the capital’s luxury real estate landscape ✓
Foreign ownership of Seoul luxury real estate has surpassed 100,000 homes for the first time, but Chinese and American buyers choose completely different neighbourhoods when purchasing premium Korean addresses.
Chinese nationals own 56,301 homes across South Korea, representing 56.2 per cent of all foreign-owned properties, according to the Ministry of Land, Infrastructure and Transport. Americans hold 22,031 homes, or 22 per cent of all homes. Yet the two groups rarely compete for the same districts.
American buyers concentrate overwhelmingly in Seoul’s most expensive areas. Data from the Korea Real Estate Board shows 2,228 American-owned apartments clustered in the three Gangnam districts of Gangnam-gu, Seocho-gu and Songpa-gu, where average prices exceed 30 million won per square metre. Another 1,266 American properties are located in central Mapo-gu, Yongsan-gu, and Seongdong-gu.
Read more: Inside Seoul’s chaebol neighbourhoods: where Korea’s wealthiest business families live
Above Developments like L’ARBRE 27, where Blackpink’s Jisoo recently purchased a unit, overlook Seoul’s Han River, exemplifying the ultra-luxury residences attracting both K-pop stars and foreign buyers in districts like Hannam-dong and Gangnam
Developments like L’ARBRE 27, where Blackpink’s Jisoo recently purchased a unit, overlook Seoul’s Han River, exemplifying the ultra-luxury residences attracting both K-pop stars and foreign buyers in districts like Hannam-dong and Gangnam
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These areas house South Korea’s entertainment elite alongside foreign buyers. Blackpink’s Jennie and actress Song Hye-kyo maintain residences in Hannam-dong’s UN Village, whilst Big Bang’s G-Dragon purchased a penthouse at Nine One Hannam for $7.3 million. BTS members have occupied units at Hannam The Hill, the country’s most expensive apartment complex. The celebrity concentration adds to the appeal for international buyers seeking Seoul’s most exclusive addresses.
Chinese buyers follow an entirely different pattern. Despite their numerical dominance, only 159 Chinese-owned apartments exist in Gangnam-gu. Instead, 610 units cluster in Guro-gu and 284 in Yeongdeungpo-gu, both in southwestern Seoul. Another 150 sit in Dongdaemun-gu and 138 in Geumcheon-gu.
Local analysts say the split reflects established Chinese communities in southwestern Seoul, where buyers prefer proximity to existing social networks over premium postcodes. American buyers, by contrast, prioritise high-value neighbourhoods and international amenities.
See also: Blackpink’s Jisoo buys a US$14 million Seoul luxury villa—take a look inside the home
Above Nine One Hannam in Seoul, where Big Bang’s G-Dragon purchased a penthouse for $7.3 million, represents the type of ultra-luxury complex attracting American buyers who concentrate in premium districts like Hannam-dong and Gangnam
Nine One Hannam in Seoul, where Big Bang’s G-Dragon purchased a penthouse for $7.3 million, represents the type of ultra-luxury complex attracting American buyers who concentrate in premium districts like Hannam-dong and Gangnam
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Recent transactions show the price points involved. A Malaysian national purchased a unit at Paarc Hannam in the UN Village for 18 billion won, setting a neighbourhood record. A Chinese buyer acquired a 407-square-metre penthouse at Tower Palace in Dogok-dong for 8.9 billion won, borrowing from a local Chinese bank. In April, an American paid 12 billion won for a 240-square-metre apartment in Hannam-dong, setting a new record for a building sale.
The surge in foreign purchases prompted regulatory intervention. In August 2025, the government implemented South Korea’s first foreign-buyer permit system, designating all of Seoul and key areas of Gyeonggi and Incheon as restricted zones. Foreign buyers must now obtain government approval, move into the properties they purchase within 4 months, and maintain residency for at least 2 years. Violations carry fines up to 10 per cent of the property value.
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Above Paarc Hannam in UN Village, Hannam-dong, where a Malaysian national purchased a unit for a record-breaking 18 billion won
Paarc Hannam in UN Village, Hannam-dong, where a Malaysian national purchased a unit for a record-breaking 18 billion won
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Foreign transactions in the Seoul metropolitan area jumped from 4,568 in 2022 to 7,296 in 2024, representing annual growth of more than 26 per cent. Through July 2025, foreigners completed 4,431 residential purchases.
Most foreign-owned properties are concentrated in the greater Seoul area. Gyeonggi Province accounts for 39.1 per cent, followed by Seoul with 23.7 per cent and Incheon with 10 per cent. Outside the capital region, foreign ownership remains negligible.
The new restrictions effectively end investment-only purchases in restricted zones. Officetels remain exempt, making them the only residential property type foreigners can purchase purely for investment without residency obligations.
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Jennifer Choo is Regional Managing Editor of Tatler Homes, covering architecture, interior design, and art across Asia. Based in Malaysia, she oversees regional content on luxury residential design and contemporary art collections. Legally trained but choosing to pursue her passion for design, she previously led notable design publications and worked as an interior stylist and art consultant for property developers, design firms, and private clients.
