[비즈한국] Park Gyu-ri, a member of the girl group 'KARA' who is also active as an actress, has put a Seorae Village building she purchased for 4.8 billion won in 2013 on the real estate market last month for 22 billion won. If the sale is finalized, she will achieve a capital gain of 17.2 billion won—3.6 times her initial investment—drawing significant attention from the real estate industry.
Park Gyu-ri, the leader of the second-generation iconic girl group KARA, purchased the Seorae Village building in 2013. According to the real estate register, Park bought the building (total floor area of 570.72㎡, or 173 pyeong) and the land (697.5㎡, or 211 pyeong), located in Banpo-dong, Seocho-gu, Seoul, which consists of one basement level and two above-ground floors, for 4.8 billion won in November 2013 and has held it for over 10 years. The building was originally constructed as a detached house in 1983, but the previous owner converted the basement into a retail space and parking area and the first and second floors into offices in 2007; Park has not changed its usage since her purchase. For over a decade, Park has been generating rental income from this property. Currently, a total of five collateral security rights amounting to 6.756 billion won have been set on this property.
Last month, Park Gyu-ri placed the Seorae Village building, which she had owned for over a decade, on the market. The desired selling price she set is reported to be 22 billion won. If the deal goes through, she will net a high capital gain of 17.2 billion won, representing a 3.6-fold return on her investment. When converted to the value of the land alone, excluding the building, it means she bought it for 22 million won per 3.3㎡ (1 pyeong) and is reselling it for 100 million won. Real estate industry experts noted that since another plot in Seorae Village was traded for approximately 68.6 million won per 3.3㎡ (1 pyeong) this June, her asking price is on the higher end of the local market. This is analyzed to reflect that a district unit plan is currently being established to improve aging residential areas in Seorae Village and that the property's status as a general residential area allows for conversion back to detached housing use.