The outstanding alternative investment in overseas real estate by local financial institutions, including banks, insurers and brokerages, came in at 55.8 trillion won (41.3 billion U.S. dollars) at the end of June, up 3.7 percent from a year earlier, according to the Financial Supervisory Service (FSS).
It accounted for 0.8 percent of the total assets in the domestic financial sector amounting to 6,762.5 trillion won (5 trillion dollars).
Investment in the North American real estate market ranked first with 35.8 trillion won (26.5 billion dollars), followed by investment in Europe with 11.0 trillion won (8.1 billion dollars) and Asia with 4.2 trillion won (3.1 billion dollars).
The biggest overseas real estate investor was insurance companies with 31.7 trillion won (23.5 billion dollars), trailed by banks with 9.8 trillion won (7.3 billion dollars) and brokerages with 8.3 trillion won (6.1 billion dollars).
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