A citizen of Uzbekistan bought an apartment worth 5 million dollars in Seoul
A luxurious 244㎡ apartment in the famous Banpo Xi residential complex located in the capital of South Korea, Seoul, was sold for 7.4 billion won (approximately 5 million 94 thousand dollars). This was reported by the local publication Choson.biz.
Record sale and Uzbek buyer
According to the information, this purchase was made by a 41-year-old citizen of Uzbekistan, A. This transaction was formalized in November 2023. Interestingly, the buyer's address is listed as the "Korea-Uzbekistan Traditional Medicine Clinic" in Tashkent.
All paid in cash
Another noteworthy aspect is that the 7.4 billion won was paid entirely in cash. This indicates that there are no mortgage or loan debts recorded in the property deed. Such a large sum being paid in cash is a rare occurrence in the South Korean market.
Banpo Xi – an elite complex for the wealthy
Banpo Xi is one of the most prestigious residential complexes in Seoul, consisting of 3,410 households. Here live South Korea's wealthy and famous individuals. This place is especially popular among businessmen and representatives of the art world.
A new trend for Uzbeks?
Typically, such large financial transactions mainly involve citizens of Korea and China. However, in recent years, Uzbek investors and entrepreneurs have been actively entering the international real estate market. This transaction in Seoul could be a vivid example of this process.
The record purchase of an apartment by a citizen of Uzbekistan in Seoul has generated significant interest in the Korean real estate market. This not only indicates investment opportunities but also shows that the ties between Uzbekistan and South Korea are becoming increasingly stronger. In the future, such investment activities may increase.
