A survey shows that foreigners have continued to increase in real estate transactions in South Korea since this year, and the proportion of Chinese housing mortgage loans is the largest.
According to the Yonhap News Agency, the information submitted by the South Korean Financial Supervision Institute on Wednesday (November 1) to the Council of the Congress of the Land and Transportation Committee of the Congress show that as of the end of June this year, the four major commercial banks (KB Nationals, Xinhan, Xinhan, Hana, Aya) The balance of housing mortgage in foreign countries was 2.304 trillion won (about S $ 2.36 billion), an increase of 3.3%from the end of 2022.
As of the end of June this year, the balance of Chinese housing mortgage loans was 1333.38 trillion won, accounting for 57.9%.The Chinese housing mortgage loan was 107.19 trillion won at the end of 2019, an increase of 24.4%in only three and a half years, and the increase was twice that of all the mortgage loans (12.6%) of all the housing in Korea.During the same period, foreigners handled a total of 17,949 mortgage loans, of which the Chinese were 12,234, accounting for 68.2%.
According to statistics released by the Ministry of Land and Transport in Korea in May, as of the end of last year, a total of 83,512 units held by foreign personnel in Korea, of which the Chinese were the first in 44,889 sets, accounting for the first53.7%.In other words, among the Chinese holding real estate, a quarter of which uses commercial bank loans.
It is worth noting that the recent increase in interest rates has led to an increase in the overdue rate of Chinese mortgages.The overdue rate of Chinese mortgages was 0.13%at the end of 2019, each fell to 0.09%at the end of 2020 and 2021, and rose to 0.12%at the end of 2022. It rose to 0.18%at the end of June this year.
