BTS Jungkook’s Itaewon home has seen a significant increase in value.
His Itaewon house is now worth KRW 10 billion more than its original purchase price.
The house located in Itaewon-dong, Yongsan-gu, Seoul, was purchased in December 2020 and is currently being renovated.
Jungkook made a cash purchase of a substantial 637 square meter property, consisting of a 230.74 square meter two-story house with a basement, at a price of KRW 39.59 million per 3.3 square meters. After acquiring the property, the Seven singer demolished the existing house and obtained a construction permit in 2021 to build a new residence with:
- 2 underground floors
- 3 above-ground floors
- Total floor area: 1,161.04 square meters Building area: 348.05 square meters
The construction project is nearing completion, with the finishing touches being applied.
Jungkook’s detached house is located in Itaewon, within a 10-minute walk of Itaewon Station and Noksapyeong Station on Subway Line 6.
The affluent neighborhood, known as ‘Korean Beverly Hills’ features foreign embassies and luxury houses.
Notable nearby residents include Samsung Group Chairman late Lee Kun Hee’s former home, and homes owned by SK Group Chairman Choi Tae-won, Shin Dong-won, and Shinsegae Group Chairwoman Lee Myung Hee.
The detached house owned by Jungkook is priced at over 100 million won per 3.3 square meters, making its market value 8-10 billion won higher than before.
Park Yong Hoon, a real estate expert, said that the house is located in a prestigious area where many wealthy business leaders live.
He noted that a similar house in the area sold for 70 million won per 3.3 square meters last year, which means the price has more than doubled.
Park added that since homes in this area are rarely for sale, and many people want to buy a detached house in Itaewon-dong, someone may still buy this house even at its high price.
