[Asia Economy Reporter Kim Bong-ju] Actor Son Ji-chang (51) and Oh Yeon-soo (50) couple made a profit of over 11.1 billion KRW by selling a building in Cheongdam-dong, Gangnam-gu, Seoul.
According to reports from Chosun Biz and the real estate industry on the 7th, the couple sold the Cheongdam-dong building in February for 15.2 billion KRW.
The couple purchased the building site in 2006 for 4.1 billion KRW. The following year, in 2007, they constructed a new building from basement level 1 to the 4th floor above ground. The land area of this building is 394㎡ (119 pyeong), and the total floor area is 1,058㎡ (320 pyeong).
The sale price is reported to be about 130 million KRW per 3.3㎡ of land.
Son Ji-chang held a 50% stake, and Oh Yeon-soo held the other 50%, owning it for about 15 years.
Through this full stake sale, the couple earned a profit of approximately 11.1 billion KRW over about 15 years of ownership. The buyer was confirmed to be Everhome Co., Ltd., a company that sells blenders and dishwashers.
A real estate expert said, "The sale price by Son Ji-chang and Oh Yeon-soo couple was slightly lower than or close to the market price," adding, "They earned about 740 million KRW annually before tax."
Regarding the sold building, the expert assessed, "It is difficult to generate rental income by leasing to multiple tenants, but it is a suitable building for a single tenant to use entirely."
The expert evaluated it as a successful investment, noting that they developed the land directly, held it long-term while receiving sufficient rent, and achieved a high capital gain.
Meanwhile, recently, profits from building sales by celebrities have become a hot topic.
Actor Ha Jung-woo made a profit of 4.6 billion KRW by reselling a building in Hwagok-dong, Gangseo-gu, Seoul, three years after purchasing it in March.
Actress Han Hyo-joo also made a capital gain of 2.45 billion KRW in about three years by selling a Hannam-dong building she bought for 5.5 billion KRW at 8 billion KRW.
Also, singer Rain’s building in Cheongdam-dong, purchased in 2008 for 16.8 billion KRW, is currently estimated to be worth 46.5 billion KRW. He earned a capital gain of 29.7 billion KRW.
Singer Psy bought a building in Hannam-dong for 7.85 billion KRW, which is now valued at about 15 billion KRW. Another building in Sinsa-dong, purchased for about 7.7 billion KRW, is currently worth about 13 billion KRW. The total capital gain Psy earned from these two buildings is approximately 12.45 billion KRW.
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