Girls’ Generations star Yuri has proven herself to be a savvy investor, with a building she purchased in 2020 seeing a staggering 10 billion won increase in value in just four years.
As reported by Building Road Real Estate Brokerage on August 2, in July 2020, Yuri purchased a building in Nonhyeon-dong, Gangnam-gu, Seoul, signing a contract valued at 87.95 million won per 3.3 square meters, totaling 12.8 billion won.
The building is located in a prime area of Nonhyeon-dong, situated behind Seolleung-ro and near Hakdong Elementary School.
Its convenient location offers easy access to public transportation and local amenities, with Seolleung Station, a transfer station for Lines 7 and 9, just a 3-minute walk away. Additionally, Gangnam-gu Office Station is within a 10-minute walk.
The building, completed in 2003, has a total of six floors, comprising one basement floor and five above-ground floors. The building’s land area spans 145 pyeong, equivalent to approximately 479 square meters, while its total floor area covers 394 pyeong, or around 1,300 square meters.
Yuri bought the building in her own name, with a maximum debt of 12.6 billion won and an estimated loan principal of 10.5 billion won.
After deducting the loan amount from the sale price and adding 700 million won in additional costs (including acquisition tax, legal fees, and brokerage fees), the effective cash purchase price is approximately 3 billion won.
Kim Kyung Hyun, a representative of Building Road Real Estate Brokerage, analyzed Yuri’s purchase. The mortgage registration shows a 2-month gap between the contract and balance payment dates. The area is in high demand for entertainment and full-time rental buildings, making it a good purchase.
The building is currently leased to a gaming company on a full-time basis, with a rental yield of 3.71% per year at the time of purchase in 2020. A recent comparable sale in the area suggests a market price difference of 10 billion won, with a nearby property selling for 157.5 million won per pyeong in June 2023.
