People in Their 30s Account for 70.7% of Home Purchases Funded by Crypto Sales in South Korea

People in their 30s accounted for the largest share of home purchases financed with proceeds from crypto sales.

Data submitted by the Ministry of Land, Infrastructure and Transport to Kim Jong-yang, a lawmaker on the National Assembly's Land, Infrastructure and Transport Committee from the ruling People Power Party, showed 324 cases from Feb. 10 to March 31 in which buyers listed “proceeds from virtual-asset sales” in housing purchase funding plans, according to a May 10 report by Tax Daily.

Buyers in their 30s accounted for 229 of those cases, or 70.7% of the total. They were followed by those in their 40s, 20s, 50s and 60 or older.

The data marks the first disclosure since revised rules under the Enforcement Rule of the Real Estate Transaction Reporting Act took effect in February, adding a new item for proceeds from virtual-asset sales to funding plans. For transactions involving all homes in regulated areas and homes priced at 600 million won ($434,000) or more in non-regulated areas, buyers must also report the name of the exchange, the timing of the sale and details of the conversion into won.

People in their 30s also accounted for the largest amount of such funding. During the period, they used a combined 10.31 billion won ($7.46 million) in crypto sale proceeds to buy homes. That was followed by 5.495 billion won ($3.98 million) for buyers in their 40s, 1.185 billion won ($858,000) for those in their 20s and 1.072 billion won ($776,000) for buyers in their 50s.

Still, crypto accounted for only about 0.1% of total funding used for home purchases.