Girls' Generation’s Yuri has seen her real estate investment grow significantly in just four years.
According to News1 on August 2, Yuri bought a building in Nonhyeon-dong, Gangnam, Seoul, in July 2020 for 12.8 billion won, or about 87.95 million won per 3.3 square meters.
The six-story building, which includes one basement level, covers a land area of 145 pyeong and a total floor area of 394 pyeong. It’s in a prime location with good visibility and accessibility, located near Hakdong Elementary School and just a short walk from Seonjeongneung Station and Gangnam-gu Office Station.
At the time of purchase, Yuri bought the property with an estimated bond of 12.6 billion won and took out a loan of around 10.5 billion won. After adding acquisition tax, legal fees, and brokerage fees totaling about 700 million won, she spent roughly 3 billion won in cash. The loan-to-value ratio was 82%.
As of June 2023, a similar property nearby was sold for 157.5 million won per pyeong. Based on this, Yuri’s building is now estimated to be worth around 23 billion won, reflecting a capital gain of about 10 billion won.
The building’s large land area and three-sided road frontage are key advantages. The north side of the property is 6 meters wide, which helps with sunlight and building design.
With a current building coverage ratio of 50.85%, which is below the legal limit of 60%, there’s potential for increased profitability through renovations or new construction.
Source [1]
