After ten years, KARA’s Han Seung Yeon has reportedly earned over 20 billion won (about $15 million) in real estate profit.
According to a News1 report from the 18th, Han Seung Yeon previously acquired properties in Cheongdam-dong and Samseong-dong in Gangnam, Seoul. The combined market value of these properties is estimated to be up to 27 billion won (about $20 million).
The Cheongdam-dong building was purchased in April 2014 for 48.66 million won (approximately $36,500) per 3.3 square meters, totaling 4.55 billion won (about $3.4 million). Completed in 2017, the building features five floors above ground and one basement level, with a land area of 93.5 pyeong (around 309 square meters) and a total floor area of 262.36 pyeong (around 867 square meters). It is currently leased to an entertainment agency.
Building Road Real Estate reports that the construction cost at that time was 7 million won (around $5,250) per pyeong. Given the total floor area of 262 pyeong, the estimated acquisition cost for the newly constructed building is approximately 6.7 billion won (approximately $5 million).
Based on current market estimates, similar properties in the area are traded between 148 million (around $111,000) to 169 million won (about $126,800) per pyeong. This values the Cheongdam-dong property at around 13.8 billion won (approximately $10.4 million), suggesting a market gain of about 9.3 billion won (around $7 million) over seven years.
The Samseong-dong building was purchased in May 2017 for 36.4 million won (approximately $27,320) per 3.3 square meters, totaling 3.7 billion won (around $2.8 million). Completed in 2020, it has two floors above ground and one basement level, with a land area of 101.65 pyeong (approximately 336 square meters) and a total floor area of 167 pyeong (about 552 square meters). It is currently leased to a League of Legends (LoL) esports team.
Han Seung Yeon bought this building jointly with her mother, holding an 80% share while her mother owns 20%. The estimated total acquisition cost is around 5.3 billion won (around $4 million).
Building Road Real Estate also estimates that, even conservatively, the current market value of the Samseong-dong building is around 13.26 billion won (approximately $10 million), suggesting a potential profit of 9.5 billion won (around $7.1 million) over seven years.
Meanwhile, KARA, the group Han Seung Yeon is part of, released a digital single titled “I Do I Do” last month.
Most Commented