South Koreans in their 30s sold more cryptocurrency than any other age group this year to fund home purchases, government data showed Sunday.
Crypto sales reported by homebuyers in their 30s totaled 10.31 billion won ($7 million) between Feb. 10 and March 31, the largest among all age groups, according to data submitted by the Ministry of Land, Infrastructure and Transport to Rep. Kim Jong-yang of the People Power Party.
Homebuyers must submit financing plans disclosing their source of funds within 30 days of signing contracts for all homes in regulated areas or homes worth at least 600 million won in nonregulated areas. Since Feb. 10, proceeds from virtual asset sales must be reported separately, including sale timing, transaction details and conversion into Korean won.
Buyers in their 40s followed with 5.5 billion won in reported crypto sales, ahead of those in their 20s with 1.19 billion won and those in their 50s with 1.07 billion won.
Those in their 30s also made up the bulk of buyers who listed virtual asset sales as a funding source, accounting for 229 of 324 filings, or 70.7 percent.
Still, proceeds from crypto sales accounted for just 0.1 percent of total home acquisition funds among buyers in their 30s. Real estate sales made up the largest share at 18.7 percent, followed by bank deposits at 14.6 percent, gifts and inheritances at 6.9 percent, and stock and bond sales at 4.3 percent.
jwc@heraldcorp.com
