Purchased in Seongbuk-dong's Luxury Residential Area in 2020
Estimated Value Reaches About 11.1 Billion Won
Price Per Pyeong at Approximately 27.5 Million Won
The market value of a detached house in Seongbuk-dong, Seoul, owned by singer and actor Lee Seunggi, has reportedly surpassed 10 billion won five years after its purchase. Lee originally bought the property for approximately 5.6 billion won.
On September 21, News1 reported this information, citing sources from the real estate industry.
Previously, at the end of 2020, Lee purchased a detached house in Seongbuk-dong with a basement and two above-ground floors for 5.635 billion won. At that time, it was reported that he secured funding by taking out a 6.6 billion won bank loan, using his apartment at Brownstone Legend in Samseong-dong, Gangnam-gu, Seoul as collateral.
The area of Seongbuk-dong where Lee's house is located is considered a high-end residential district, home to business conglomerate families, celebrities, and numerous diplomatic residences. Lee's house, built in the early 1980s, sits on a land area of about 1,000 square meters with a total floor area of 1,200 square meters, and is currently being used as the official residence of the Qatari ambassador to Korea.
Recently, residential properties in Seongbuk-dong have been trading at prices ranging from 23.06 million to 36.04 million won per pyeong. Based on these figures, the estimated market value of Lee's property is about 11.1 billion won, with the price per pyeong around 27.5 million won.
An official from Building Road Real Estate Brokerage Corporation stated, "Lee utilized a strategic approach by securing liquidity with an existing apartment as collateral before purchasing a luxury home," adding, "The current market value is estimated to reach 11.1 billion won."
It is known that Lee has consistently invested in real estate. In February, he additionally purchased land near a residential area in Jangchung-dong, Jung-gu, Seoul for 9.4 billion won, and last month completed the payment and transfer of ownership.
The sellers were identified as Mr. Moon, the father of Moon Hyukki, the former CEO of Jeju Beer, and Mrs. Kang, his mother. In this transaction, Shinhan Bank established a maximum secured mortgage of 7.8 billion won. Industry sources estimate the actual loan amount to be about 6.5 billion won.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
