Own Your Private
Residence in Seoul
Discover a private residence for the moments that bring you back to Korea. Explore LUCOMS HILL THE TERRACE and tell us what you are looking for.
Tell us what you’re looking for.
Curious about LUCOMS HILL THE TERRACE? Share a few details and the team can follow up with a tailored conversation.
02 / A FIRST LOOK
Spaces to imagine
your life in Seoul.
A CLEARER WAY FORWARD
From first check
to registered ownership.
A practical overview for international buyers. The exact steps depend on your residency, the property classification and current local rules.
OVERVIEWSEOUL · 2026
- 01BEFORE SIGNING
Check the property & permits
Confirm the building classification, title, any land transaction permit and whether your intended use has restrictions.
- 02CONTRACT & FUNDING
Prepare contract and funds
Agree the terms and payment schedule. Non-residents should check bank reporting and remittance documents before sending funds.
- 03WITHIN 30 DAYS
Report the transaction
The real-estate transaction report is generally due within 30 days of signing. The broker often files it for both parties.
- 04WITHIN 60 DAYS
File foreign acquisition notice
A separate notice of foreign real-estate acquisition is generally required within 60 days of the contract or payment event that applies.
- 05BEFORE TITLE REGISTRATION
Settle taxes and fees
Budget for acquisition tax, possible VAT on a new building, brokerage and registration/legal costs. The amount depends on classification and use.
- 06AFTER BALANCE PAYMENT
Register ownership
Complete title transfer registration. Non-residents may need a real-estate registration number and additional identity documents.
If a permit is required, approval must be obtained before signing. Deadline start dates and required documents can vary—confirm with the local authority, bank and a qualified professional.
GOOD TO KNOW
Questions buyers
often ask.
A few useful starting points before you make a decision.
Can a foreigner buy property in Korea?
In general, yes. Some locations or property types require prior permission or have other restrictions. Check the exact parcel and building before signing.
Does the foreign buyer permit zone apply to this officetel?
Seoul has designated foreign-buyer permit areas through August 25, 2027, covering specified housing types. Officetels are not named in the official list; verify this unit’s legal classification and permit status with Songpa-gu before signing.
What additional costs should I expect?
Depending on classification, an officetel may have a 4% standard acquisition tax plus applicable local surtaxes (often summarized as 4.6%). A new unit may also involve VAT on the building portion. Brokerage, legal/registration and ongoing taxes are additional; request a property-specific estimate.
Can I buy if I live outside Korea?
Non-residents can generally purchase, but may need extra foreign-exchange bank reporting, remittance evidence and a Korean real-estate registration number for title registration.
Can someone complete the process for me from overseas?
A representative may be able to act under a power of attorney. Authentication requirements depend on the document and issuing country, so confirm the format with the registry and your legal representative in advance.
YOUR SITUATION IS UNIQUE
Have another question?
Leave a consultation request and tell us what you would like to clarify.
General information only, not legal or tax advice. Rules and costs change and vary by property and buyer; confirm your case with Songpa-gu and qualified Korean legal/tax professionals.
04 / SONGPA, SEOUL
Rooted in Seoul.
Close to what matters.
Discover the neighborhood around LUCOMS HILL THE TERRACE, from Seokchon Lake to the city’s cultural destinations.
EXPLORE THE OFFICIAL LOCATION ↗
Lotte WorldLotte Department StoreLotte World TowerSeokchon LakeSongridan-gilOlympic ParkAsan Medical CenterSeokchon Station05 / YOUR NEXT STEP
Let’s start with
what matters to you.
Send the interest form and the LUCOMS team can follow up using your preferred consultation method.
REGISTER INTEREST ↑