Purchased jointly with his mother in 2014, near academy district
Estimated to have risen by 5.1 billion KRW compared to the 2 billion KRW purchase price
Singer Jang Beom-jun's building in Daechi-dong, Gangnam-gu, Seoul, which he purchased 11 years ago, is reported to have significantly increased in value.
On the 6th, Building Road Real Estate Brokerage stated that the value of the multi-family house building, jointly owned by Jang and his mother since April 2014, is currently estimated to have risen by 5.1 billion KRW.
This building located in Daechi-dong has a land area of 195㎡ (59 pyeong) and a total floor area of 383.5㎡ (116 pyeong).
Jang purchased the building for 2 billion KRW and remodeled it. Considering the highest bond amount at the time of purchase (900 million KRW), the loan principal is estimated at 750 million KRW, which is analyzed to be 38% of the total purchase price.
The building is about a 5-minute walk from Hanti Station on the Suin-Bundang Line and is also close to the Eunma Apartment intersection. It is located on a side street of Dogok-ro, where many academies in Daechi-dong are concentrated.
The area around the building owned by Jang is one of the most popular academy districts nationwide. Because of this, there is steady rental demand for academies as well as surrounding residences. At the time of purchase, a local real estate industry official said, "This building is expected to benefit from the 'gentrification' of Daechi-dong academies."
After purchasing the building, Jang changed the use of the semi-basement parking lot, which is exposed above ground, into a neighborhood living facility. It is known that Jang's mother operates a cafe in this semi-basement unit.
The current value of this building appears to have increased by 5.1 billion KRW compared to the purchase price.
A representative from Building Road Real Estate Brokerage said in an interview with News1, "Recent nearby transaction cases show that depending on the building's age, use, and location, sales prices ranged from 120 million to 170 million KRW per 3.3㎡ (pyeong)."
He added, "By weighting factors such as land area, building use, construction year, and location conditions, and multiplying the estimated unit price of 120 million KRW per 3.3㎡ (pyeong) by Jang's building land area of 195㎡ (59 pyeong), the value is about 7.1 billion KRW."
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