Uzbek citizen buys $5 million apartment in Seoul

A 244㎡ luxury apartment in the famous Banpo Xi residential complex in Seoul, the capital of South Korea, has been sold for 7.4 billion won (about 5 million 94 thousand dollars), local publication Choson.biz reported.

Record sale and Uzbek buyer

According to reports, the purchase was made by 41-year-old Uzbek citizen A. The transaction was formalized in November 2023. Interestingly, the buyer's address is listed as the "Korean-Uzbek Traditional Medicine Clinic" in Tashkent.

All paid in cash

Another noteworthy point is that 7.4 billion won was paid in cash. This means that there are no mortgages or credit debts recorded in the property deed. Such a large amount paid in cash is a rarity for the South Korean market.

Banpo Xi - an elite complex where the rich live

Banpo Xi is one of the most prestigious residential complexes in Seoul, consisting of 3,410 apartments. It is home to the rich and famous of South Korea. This place is especially popular with businessmen and representatives of the art world.

A new trend for Uzbeks?

Usually, such large financial transactions are mainly attended by citizens of Korea and China. However, in recent years, Uzbek investors and entrepreneurs have been actively entering the international real estate market. This transaction in Seoul may be a vivid example of this process.

The purchase of an apartment in Seoul by an Uzbek citizen at a record price has sparked a lot of interest in the Korean real estate market. This not only demonstrates investment opportunities, but also indicates the increasingly strong ties between Uzbekistan and South Korea. Such investment moves are likely to increase in the future. Follow “Zamin” news on “Telegram”