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TWICE's Jihyo buys 4 billion KRW worth Seoul building; reports suggest 40-year-old property's rising valuation
Jihyo made a savvy investment in a property at a prime location in Seoul, which is appreciating in value. Read on to learn more.
Jihyo acquired a notable property in Seongdong-gu, Seoul, as per a report by K-media outlet Chosun Biz on May 2. The deal for the building was finalized at 4 billion KRW in March of the previous year. Despite being 40 years old, the building is anticipated to increase in value. It highlights Jihyo's business sense and financial power. With the recent purchase, she became a building owner at just 27 years of age.
The TWICE leader purchased the appreciating asset by the end of March 2024, with the balance paid in full and ownership being transferred shortly after. As per reports, no mortgage was registered and thus, it is likely the purchase was made entirely in cash. The property Jihyo purchased lies a 10-minute walk from the bustling commercial area of Seongsu-dong. It is located within the Seongsu Strategic Maintenance District, a significant redevelopment zone.
Besides the redevelopment zone benefits, its closeness to the Han river and Seongsu Station is expected to boost its value. Thus, its hefty price tag of 4 billion KRW (2.8 million USD) seems justified. The building spans a land area of 152 square meters and has a total floor area of 330.21 square meters, with an estimated land value of around 86.99 million KRW per square meter. As per experts, the value of the property is to increase greatly in the coming years, and Jihyo likely invested in it for the same reason.
The investment showcases the K-pop artist's financial acumen and ability to make savvy decisions. The Seoul property was built in June 1986 and consists of a basement and three floors above ground. The building's current tenants include a real estate agency and restaurants on the ground floor, offices on the second floor, and residential spaces on the third floor. The TWICE vocalist registered the private rental dwelling last April 2024 and then obtained certification as a housing rental business operator.
This registration qualifies her for tax benefits, including acquisition tax advantages. However, she's now subject to regulations like a 5% rent increase, adhering to a mandatory rental period, and securing guarantee insurance as per the Special Act on Private Rental Dwellings.
