In the first quarter of this year, funds raised through gifts and inheritances to purchase dwellings in Seoul topped 2 trillion won. In particular, people in their 30s accounted for a large share of this "parent chance" in securing money to buy dwellings.
According to aggregated data on Seoul dwelling purchase funding plans from the Ministry of Land, Infrastructure and Transport obtained on the 26th by the office of lawmaker Kim Jong-yang of the Land Infrastructure and Transport Committee (People Power Party), funds from gifts and inheritances used to purchase dwellings in Seoul in the first quarter of this year totaled 218.13 billion won.
A dwelling funding plan is a document that discloses the source of funds for acquiring a dwelling. It must be submitted to the relevant local government within 30 days after signing a sales contract for all dwellings in regulated areas (adjusted areas and overheated speculation districts) and for dwellings priced at 600 million won or more in nonregulated areas.
Funds from gifts and inheritances raised to secure dwellings in Seoul reached an annual record high, from 174.51 billion won in 2023 to 332.57 billion won in 2024, and 657.79 billion won last year. Although only the first quarter has passed this year, an amount equivalent to about one-third of last year's gifts and inheritances has already been used to secure dwellings in Seoul.
In particular, among cases of purchasing Seoul dwellings through gifts and inheritances, those in their 30s accounted for half. Gifts and inheritances for people in their 30s totaled 1.0915 trillion won, making up 50.03% of the total. They were followed by those in their 40s (526.5 billion won), 50s (229.9 billion won), 60 and older (227.8 billion won), 20s (103.3 billion won), and under 20 (2.2 billion won). On an annual basis, the share for those in their 30s has gradually expanded from 34.8% in 2023 to 40.9% in 2024 and 43.5% in 2025.
People in their 30s also had the largest share of funds raised for Seoul dwelling purchases by selling stocks, bonds, and coins. In the first quarter of this year, those in their 30s used 721.1 billion won earned through stocks, bonds, and coins to buy homes. They were followed by those in their 40s (585.5 billion won) and 50s (464 billion won).