The Seoul city government will upgrade its Real Estate Trends Analysis System to strengthen precise analysis of the real estate market and responses to abnormal transactions. Through this, it plans to closely investigate foreign land transaction records and proactively guide real estate brokerages suspected of illegal acts such as collusion.
According to the Seoul city government on the 14th, the city placed an order on the 2nd for upgrading the 2026 Seoul Real Estate Trends Analysis System. The project period is seven months after the contract is signed, and the total project cost is about 1.17561 billion won. In its proposal, the city said, "With publicly available data from the Ministry of Land, Infrastructure and Transport, it is difficult to identify detailed transaction information such as domestic and foreign status, age, gender, location, nationality, funding methods, and brokerages," adding, "We will develop an analysis system for foreign land transactions, post-permit land use surveys, and brokerage guidance and inspections."
As the number of foreigners buying domestic real estate has increased in recent years, it appears the city determined that data analysis is needed to establish a management system for foreign real estate transactions. The city is strengthening verification of documentation on funding for foreign real estate transactions and precise investigations into abnormal transactions. Also, since Aug. last year, with a two-year owner-occupancy obligation imposed on foreigners in land transaction permit zones, post-use surveys have become more important.
The city will also build a system to analyze transaction patterns of real estate brokerages and proactively inspect areas suspected of abnormal transactions. It plans to consolidate and query, in one place, each brokerage's records of dwelling sales and jeonse and monthly rent contracts, brokerage frequency, and transaction statistics to manage data systematically. A city official said, "We plan to expand brokerage transaction information to quickly guide and inspect areas suspected of real estate illegality."
It will also step up verification of real estate news. As unverified information and exaggerated reports surrounding the real estate market spread and raise concerns about market distortion, the city plans to create a system to verify them systematically. The city will collect news data, summarize and classify the original texts, and introduce a function to extract facts in articles. It will cross-check these against actual real estate transaction information and analysis data to respond to false or distorted information.