It has been estimated that the building in Hannam-dong, Yongsan-gu, Seoul, which actress Song Hye-kyo purchased for 19.5 billion won, has increased in value by 6 billion won in just three years.
According to the real estate agency Building Road, Song Hye-kyo purchased a five-story building with a land area of 149.35 pyeong and a building area of 74.61 pyeong, located at the entrance of the Hannam the Hill apartment complex, for 19.5 billion won in April 2024.
At the time, Song Hye-kyo invested 11.5 billion won in cash and used a bank loan for the remaining 8.5 billion won to purchase the property in her own name.
Kim Kyung-hyun, a representative of Building Road, estimated that the total purchase cost, including acquisition tax, legal fees, and brokerage fees, was approximately 20.63 billion won.
Completed in 2014, the building is two stories underground and five stories above ground with a total floor area of 445.22 pyeong. Currently, various high-end restaurants, including a Korean restaurant selected for the Michelin Guide Seoul 2024, and studios are tenants in the building.
The building is located about 900 meters from Hannam Station on the Gyeongui-Jungang Line and 1.2 kilometers from Hanangjin Station on Line 6.
The current market value of the building is estimated to have increased by more than 6 billion won compared to three years ago.
At the time of purchase, the land price was 130.57 million won per pyeong, but recent transactions of the nearest building show a price increase to 165 million won per pyeong. This building was built in 1989 and is an old building, so the price is almost entirely based on the land value.
Considering this, the current market value of Song Hye-kyo’s building is estimated to be 25.53 billion won, an increase of more than 6 billion won compared to the purchase price in 2024.
Kim Kyung-hyun explained, “If we multiply Song Hye-kyo’s building’s land area of 149.35 pyeong by 165 million won per pyeong, we get 24.64 billion won. If we calculate the building price per pyeong as 2 million won, applying the construction cost per pyeong in 2014 and depreciation after 10 years, and multiply it by the total floor area of 445 pyeong, we get 890 million won, resulting in a total estimated market value of 25.53 billion won.”
Meanwhile, Jeon Ye-seong, a team leader at Building Road, operates the YouTube channel “Small Building Yongsik Yeseng” to provide real estate information.