Hyeri has quietly assembled an impressive real estate portfolio, owning two buildings in Seoul’s prestigious Gangnam district with a combined purchase price of 12.1 billion win ($8.8 million) and estimated capital gains of at least 6 billion won ($4.4 million).
News1 reported on June 1st that Hyeri purchased an aging multi-family home in Gangnam’s Samsung-dong district in August 2022 for 7.75 billion won ($5.6 million) under her family corporation’s name. The property is strategically located near several subway stations, making it highly desirable real estate.
Hyeri demolished the existing structure and rebuilt it as a six-story building with two basement levels. Including the 7.75 billion won ($5.6 million) purchase price, 450 million won ($326,000) in transaction costs, and 2.5 billion won ($1.8 million) in construction expenses, her total investment is estimated at 10.7 billion won ($7.8 million)
A real estate expert told News1, “The building is currently seeking full-lease tenants with a 400 million won ($290,000) deposit and 30 million won ($21,700) monthly rent for the newly constructed space,” adding, “If the building sells, we expect capital gains of over 3 billion won ($2.3 million) in just three years.”
He added, “Hyeri entered into a trust agreement with a trustee company when transferring the property’s ownership, which is often chosen to reduce actual investment amounts by increasing loan limits.”
Hyeri also owns a building in Yeoksam-dong, purchased in December 2020 for 4.39 billion won ($3.2 million). She bought the aging residential building, demolished it, and rebuilt it. The current market value is expected to exceed 10 billion won ($7.3 million), with potential capital gains of over 3 billion won ($2.2 million) if sold.
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