South Korea imposes curbs on foreigners buying homes in Seoul

Surging property prices have become a political liability for President Lee Jae-myung. - Photo: Pixabay file

SEOUL: South Korea has introduced new restrictions on foreign property purchases in the greater Seoul area, its latest effort to curb housing prices.

The new measures unveiled by the government on Thursday (Aug 21) will require foreigners to get prior approval to buy a property starting Aug 26.