Gangdong-gu Records Highest Proportion and Number of Non-Resident Purchases at 33.3%
Regulatory Spillover, New Complex Move-Ins, and Transportation Improvements Drive Demand
Dongjak-gu Also Benefits from Regulatory Spillover... Seodaemun-gu and Others Popular for "Proximity to Workplaces"
This year, the proportion of Seoul real estate purchases made by non-residents (people living outside of Seoul) has slightly increased. In addition, Gangdong-gu recorded the highest proportion of such "cross-regional purchases" among all districts.
According to data from the Supreme Court's Registration Information Plaza on applications for transfer of ownership (sales) as of May 13, 2025, Seoul residents accounted for 72.6% (45,688 cases) of purchases of collective buildings (apartments, officetels, multiplex houses, row houses, etc.) in Seoul from January to April. The share of buyers residing in other regions was 27.4% (12,526 cases). This is a 0.5 percentage point increase compared to 26.9% during the same period last year. This suggests that the popularity of the so-called "one smart property" phenomenon in Seoul remains strong.
By district, Gangdong-gu ranked first for the proportion of non-resident purchases at 33.3%. This was followed by Seodaemun-gu at 31.9%, Dongjak-gu at 31.2%, Jung-gu at 31.0%, and Geumcheon-gu at 30.7%. The three traditionally popular Gangnam districts recorded levels similar to the average. Gangnam-gu (26.7%) and Seocho-gu (26.5%) were below the Seoul average (27.4%), while Songpa-gu (28.1%) slightly exceeded the average.
In contrast, the four northeastern districts?Gangbuk-gu (16.6%), Nowon-gu (18.0%), Jungnang-gu (20.4%), and Dobong-gu (22.9%)?recorded the lowest proportions of non-resident purchases in that order.
This year, the number of purchases in Gangdong-gu by non-residents has been steadily increasing. After recording 263 cases in January, the number dropped to 152 in February, then rose to 187 in March, and reached 303 last month. Last month, Gangdong-gu also had the highest number of non-resident purchases in Seoul. Both in terms of proportion and absolute number, the preference of non-resident buyers for Gangdong-gu was the most pronounced.
Factors such as improved residential environments due to the move-in of large new complexes like Olympic Park Foreon, as well as transportation benefits such as the extension of Seoul Subway Line 9, have attracted "cross-regional purchase" demand. The expansion of land transaction permit zones in the three Gangnam districts and Yongsan-gu has also been cited as a reason for the concentration of investment demand, as it created a spillover effect. Ham Youngjin, head of the Real Estate Research Lab at Woori Bank, stated, "Due to strengthened regulations in the three Gangnam districts, some non-resident investment demand appears to have shifted to Gangdong-gu, which is not subject to such regulations. Gangdong-gu is one of the districts most closely linked with the three Gangnam districts." Dongjak-gu, which ranked third for non-resident purchase proportion, shares similarities with Gangdong-gu in that it is adjacent to the three Gangnam districts and is part of the "Hangang Belt."
Other top-ranking districts, such as Seodaemun-gu, Jung-gu, and Geumcheon-gu, appear to have seen an increase in cross-regional purchases by non-residents due to demand for proximity to workplaces. Seodaemun-gu and Jung-gu are part of Seoul's Central Business District (CBD), while Geumcheon-gu is adjacent to major employment hubs such as Gasan Digital Complex and Guro Digital Complex. Jang Jaehyun, head of research at RealToday, analyzed, "In the case of these three districts, it appears that actual demand for homes close to workplaces, rather than investment, was the main driver."
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