Seoul City says that more than two-thousand square kilometers of land in the capital is owned by foreigners.

City officials said Wednesday that as of the end of last year, the size of land held by foreigners in the capital city stood at around 880-thousand pyeong or some two-thousand-900 square kilometers. The size is similar to that of the islet Yeoido in western Seoul.

In particular, cases of land purchase by foreigners increased by 6-point-5 percent last year compared to the previous year, while the area sold to foreigners rose by more than 21 percent.

By nationality, Americans topped the list of buyers followed by Europeans and Japanese.

City officials said the purchase of land in the capital by foreigners is growing annually while land transactions by locals is on the decline due to recently implemented policies aimed at curbing real estate speculation.