South Korean investors purchased a record KRW 7 trillion ($5.93 billion) of real estate assets overseas in the first half of the year, Business Korea reports.
The volume of overseas property funds has been rising steadily each year in Korea. Last year that figure rose to KRW 9.38 trillion ($7.94 billion) and looks likely to surpass KRW 10 trillion ($8.47 billion) for the first time this year, if the trend continues.
Western Europe is reportedly receiving the majority of investments, but Eastern Europe and Northern Europe are also seeing increased cash flow.
At the same time, investment targets are becoming more diversified and range from office buildings in CBD’s to logistics centers.
Cumulatively, overseas property funds have reached KRW 46.42 trillion ($39.32 billion), including this year’s calculations.
Read the full report here.
