Chinese Nationals Make Up 54% of the Foreign Homeowners in South Korea

Chinese nationals have apparently been investing heavily in Korean real estate:

Chinese people account for over 54 percent of homes owned by foreigners in Korea, while Americans account for 24 percent of them, according to the land ministry’s latest data on foreign ownership of land and housing in Korea. 

Data revealed by the Ministry of Land, Infrastructure and Transport, Wednesday, show foreign nationals own 83,512 homes in Korea as of the end of last year, accounting for 0.4 percent of all residential property in the country.

This is the first time that statistics on homes owned by foreigners have been officially announced by the government. So far, the land ministry had been announcing statistics on a regular basis on foreign land ownership, but not the number of homes in the country owned by foreigners. The disclosure of the data is ascribed to the Yoon administration’s pledge to regulate foreigners’ speculative housing transactions. 

By category, 91 percent of the homes owned by foreigners are in multi-complex housing, such as apartments, while the other 9 percent are single-family detached houses.

Korea Times

You can read more at the link, but this makes me wonder how many of these Chinese owned apartments are actually occupied or are they just sitting empty waiting to appreciate and be sold again?