Starting Aug 26, 2025, foreigners looking to buy homes in Seoul, Incheon, and certain areas in Gyeonggi-do will need local government approval and must actually reside in the property for 2 years. 📍 Affected areas include all of Seoul, 7 districts in Incheon (Jung-gu, Yeonsu-gu, etc.), and 23 cities/counties in Gyeonggi (Suwon, Seongnam, Goyang, Yongin, etc.). ✅ Key points 📌 Must move in within 4 months of approval 📌Law in effect for 1 year (Aug 26, 2025 – Aug 25, 2026), with possible extension 📌Violations may result in fines up to 10% of the property price This is part of the government’s effort to prevent speculative real estate purchases and stabilize the housing market. 📷 Agoda #Seoul #Korea #LifeinKorea #eyop_news