South Korean multi-homeowner and property trends

South Korea is experiencing significant shifts in its real estate and property ownership landscape. Data from the National Health Insurance Service indicates a rise in health insurance premium arrears among high-asset individuals. Between 2021 and 2025, the number of individuals owning 30 or more properties increased more than sixfold, with some major defaulters holding hundreds of properties. Despite increased property seizures, critics note that the rate of requesting public auctions for seized real estate remains extremely low, at approximately 0.29% in 2025.

Concurrently, the proportion of multi-homeowners has dropped to its lowest level in nearly eight years. This decline is driven by owners selling or gifting properties to avoid anticipated increases in holding and capital gains taxes. While this has increased the supply of properties for sale, it has caused a shortage in the rental market. As owners move into their properties for personal residence, the availability of jeonse (lump-sum deposit) rentals has plummeted, leading to sharp increases in rental prices in certain areas.