BTS members Jungkook and J-Hope are making headlines in the real estate market.
According to a real estate agency report, Jungkook purchased a standalone house in Itaewon in December 2020 for 7.63 billion won (approximately $5.8 million). The property spans 637 square meters (about 6,850 square feet) and features a basement and two additional floors, with a total floor area of 230.74 square meters (about 2,480 square feet). He bought the house entirely in cash for 39.59 million won (approximately $29,800) per 3.3 square meters.
After acquiring the property, Jungkook demolished the existing structure and received a construction permit from the district office in 2021 for a new home with a total floor area of 1,161.04 square meters (approximately 12,500 square feet) and a footprint of 348.05 square meters (about 3,740 square feet). He is currently in the final stages of construction.
The standalone house is currently listed at over 100 million won (approximately $75,000) per 3.3 square meters, indicating a potential price appreciation of at least 8 billion won (around $6 million) to over 10 billion won (approximately $7.5 million). Park Yong Hoon, head of An Real Estate Agency, commented, “The area where this house is located is home to some of the most prominent figures in business. Looking at the houses along the road, you’ll see they are quite substantial.” He added, “In 2022, properties in this area sold for around 70 million won (approximately $52,700) per 3.3 square meters, meaning prices have more than doubled since then.”
Jungkook’s house is just a 10-minute walk from Itaewon Station and Noksapyeong Station on Line 6. The surrounding area is known as the original affluent neighborhoods of South Korea, often referred to as the Korean Beverly Hills. It features numerous embassies and luxury residences.
It was reported that J-Hope purchased another apartment valued at over 10 billion won (approximately $7.5 million). According to the real estate sources, he bought a unit in the Afer Hangang Penthouse in Yongsan, Seoul, for 12 billion won (about $9 million) in cash. He also acquired a lower-level unit for an additional 10 billion won. In just one month, he has spent around 22 billion won(around $16.5 million) to acquire two apartments.
J-Hope’s unit in the Afer Hangang Penthouse has a floor area of 273.86 square meters (approximately 2,940 square feet) and three bedrooms and four bathrooms. The additional lower-level unit he acquired has a floor area of 232.86 square meters (about 2,505 square feet) and three bedrooms and three bathrooms.
In addition, J-Hope owns two units in the Trimaje complex located in Seongdong-gu, Seongsu-dong. With his recent purchase in the Afer Hangang, he now has a total of four high-end apartments in Seoul, with a combined estimated value of around 40 billion won (approximately $30 million).
Joo Nam In, a director at Building On, stated, “The estimated price for the additional Afer Hangang apartment is around 12 billion won, while the actual price for the penthouse hasn’t been released yet but is estimated to be about 20 billion won. For the Trimaje complex, the market price for a 95 square meter (approximately 1,022 square feet) unit is between 3.1 billion won (about $2.3 million) and 3.2 billion won (about $2.4 million). In comparison, a 128.9 square meter (about 1,387 square feet) unit is priced between 4.3 billion won (approximately $3.2 million) and 4.5 billion won (approximately $3.4 million). The estimated value for all four apartments is around 39.7 billion won (approximately $30 million).”
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