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[이코노믹리뷰=신진영 기자] # In October of last year, A Chinese purchased a commercial house located in Mangwon-dong, Mapo-gu, Seoul for 1.6 billion won. At this time, Mr. A received a loan of 1.25 billion won, 78% of the total house price, from a domestic bank. In addition, Mr. A owned one house at the time of purchasing the Mangwon-dong commercial house. It turned out that the commercial housing in Mangwon-dong was purchased for rental purposes.
According to the National Assembly on the 2nd, the number of recent purchases of real estate by foreigners and the number of purchases of more than 60% of the total housing price by borrowing from domestic banks are increasing rapidly. The number of foreign building transactions increased from 14,570 in 2015 to 14,497 in 2017, 19,944 in 2018, 17,764 in 2019, and 10,48 in 2020. In addition, as the transaction ratio of commercial buildings increased, the proportion of purchases increased as the regulation on real estate loans was not severe.
The number of foreigners buying houses by borrowing more than 60% of the total housing price has also increased sharply. In 2018, it was 0, but in 2020, it was 187. It was a noticeable increase to 163 cases since July of last year.
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In addition, Democratic Party Rep. So Byung-hoon proposed the’Foreign Real Estate Mortgage Loan Act’ (a bill partially amended by the Banking Act) that restricts foreigners without domestic income from receiving real estate mortgage loans from domestic banks.
The content of domestic banks requiring LTV and DTI regulations to be applied to commercial real estate as well as housing, and banks prohibiting real estate mortgage loans to foreigners without domestic earned income within two years from the date of application for loans.
On the day, Rep. So said, “If the Banking Act is revised in such a way, it will be virtually impossible to purchase domestic real estate by borrowing hundreds of millions to billions of billions of dollars from domestic banks like Chinese A and B.” “Foreigners’ domestic real estate purchases will increase. As much as they are doing, the government needs to introduce appropriate regulations.”
This amendment was initiated by Rep. So Byung-hoon, as well as 11 members including Kwon In-sook, Kim Hoi-jae, Min Hyung-bae, Shin Jeong-hoon, Yang Gyeong-suk, Yang Jeong-suk, Yoon Hu-deok, Lee Seong-man, Yong-ho Lee, and Lee Hyeong-seok.
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