South Koreans in their 30s have emerged as the leading age group liquidating cryptocurrency to finance home purchases this year, according to recent government data.
Official figures reveal that homebuyers aged 30-39 reported a total of 10.31 billion won (approximately $7 million) from crypto sales between February 10 and March 31. This amount represents the highest sum across all demographics, as per data submitted by the Ministry of Land, Infrastructure and Transport to Rep. Kim Jong-yang of the People Power Party.
To ensure transparency in real estate transactions, South Korean homebuyers are mandated to submit detailed financing plans within 30 days of contract signing. This applies to all properties in regulated zones or those valued at 600 million won or more in non-regulated areas. A key update since February 10 requires specific reporting of proceeds from virtual asset sales, including transaction dates, conversion details into Korean won, and other pertinent information.
Following the 30s age group, buyers in their 40s reported substantial crypto sales amounting to 5.5 billion won. This was considerably higher than those in their 20s, who reported 1.19 billion won, and individuals in their 50s, with 1.07 billion won in virtual asset liquidations for property acquisition.
Furthermore, the millennial demographic (those in their 30s) dominated the proportion of buyers utilizing virtual asset sales as a funding source for homes. They accounted for 229 out of 324 filings, representing a significant 70.7 percent of all disclosed crypto-funded home purchases.
Despite these considerable crypto sales volumes, it’s important to note that proceeds from digital currency liquidations constituted only a small fraction—0.1 percent—of the total home acquisition funds among buyers in their 30s. The largest share of funding came from real estate sales at 18.7 percent, followed by traditional bank deposits at 14.6 percent. Gifts and inheritances contributed 6.9 percent, while stock and bond sales made up 4.3 percent of the funding mix.
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