It has been reported that singer Jang Yoon-jung has become the owner of a building in Itaewon.
According to Herald Economy on the 3rd, Jang Yoon-jung purchased a small building in Itaewon-dong, Yongsan-gu, Seoul for 4.15 billion won last June. This is about two months after purchasing the penthouse ’Aper Hangang’ located in Seobinggo-dong, Yongsan-gu, Seoul in April for 12 billion won entirely in cash.
The Little Building, which Jang Yun-jeong purchased for approximately 4.15 billion won in her personal name, is a building with one basement floor and two floors above ground located on Noksapyeong-daero.
The building, completed in 1975, has a land area of 152㎡ (approximately 46 pyeong) and a total floor area of 152.34㎡ (approximately 46 pyeong).
It is a type 1 neighborhood living facility built in a type 2 general residential area, and all three floors are registered as retail stores. Currently, a fence with a door lock surrounds the front of the building, which is believed to have been installed after the transaction in June.
Jang Yoon-jeong purchased the building for approximately 90.26 million won per 3.3 m2 of land.
On July 12, one month after the sales contract was signed, the balance was paid and ownership was transferred.
A commercial bank lien with a maximum bond amount of 3 billion won has been established, and considering that the maximum bond amount is usually set at 120% of the loan amount, it is presumed that the building was purchased by borrowing 2.5 billion won.
Meanwhile, the couple Jang Yoon-jung and broadcaster Do Kyung-wan purchased the Han River view penthouse Aper Hangang located in Seobinggo-dong for 12 billion won in cash. The transfer of ownership was completed last April. This place has a duplex structure and an exclusive area of 273.98㎡.
The couple Jang Yoon-jeong and Do Kyung-wan sold Nine One Hannam Apartment (exclusive area of 244㎡) in Hannam-dong, Yongsan-gu, Seoul last April for about 12 billion won. By selling this house, Jang Yoon-jeong and his wife made a market profit of 7 billion won.
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Time.news Interview: Real Estate Insights with Expert Lee Su-min
Time.news Editor: Welcome, everyone! Today, we’re delving into the fascinating world of real estate ownership by celebrities, specifically focusing on the recent acquisition by singer Jang Yoon-jung. With me is real estate expert Lee Su-min. Lee, thank you for joining us!
Lee Su-min: Thank you for having me! It’s great to be here.
Editor: So, Jang Yoon-jung recently purchased a building in Itaewon for 4.15 billion won. What’s your take on this move?
Lee Su-min: Well, this is a significant investment for any individual, let alone a celebrity. Itaewon is a vibrant area in Seoul known for its diverse culture and nightlife, which makes it an appealing location for commercial real estate.
Editor: Absolutely! And she bought this small building with retail stores registered on all floors. What does this mean in terms of potential returns?
Lee Su-min: Investing in a building with retail spaces can be quite lucrative. Retail properties typically offer stable income through rent. Given the location in Itaewon, Jang Yoon-jung might expect strong demand from tenants. If she manages the property well, the cash flow could be quite favorable.
Editor: It’s interesting that she also purchased a penthouse for 12 billion won just a few months prior. How does this reflect a trend we’re seeing among celebrities in property investments?
Lee Su-min: Definitely! There’s an increasing trend of celebrities diversifying their income through real estate. This is often seen as a safer asset compared to other investments, especially with the current economic climate. By investing in both residential and commercial properties, Jang Yoon-jung is hedging her bets.
Editor: It’s a smart strategy. Now, in her recent purchase, it seems like there was some financing involved too, with a commercial bank lien of up to 3 billion won. What can you tell us about that?
Lee Su-min: Yes, typically, investors leverage loans to increase their purchasing power. In Jang’s case, borrowing 2.5 billion won, while substantial, is a common practice in real estate, especially for high-value properties. It allows her to retain liquidity while still making significant investments.
Editor: The building was completed in 1975 and the land area is about 152 square meters. How does the age and size of a property factor into its value?
Lee Su-min: The age of a property can influence its value significantly. Older buildings may require more maintenance or renovation, which can impact cash flow. However, in prime locations like Itaewon, even older buildings can be attractive for their potential. Size also plays a role; smaller properties often have lower initial costs but may offer less rental income.
Editor: That makes a lot of sense. And Jang Yoon-jung’s previous sale of her residence in Hannam-dong at a profit of around 7 billion won adds another layer, doesn’t it?
Lee Su-min: Absolutely! It shows she has a good grasp of the real estate market. Realizing a profit like that from a property sale indicates an astute understanding of market dynamics. It certainly positions her as a savvy investor in the real estate space.
Editor: It’s all very intriguing! Before we wrap up, do you think we’ll see more celebrities making similar moves in the future?
Lee Su-min: Without a doubt. As the market evolves, and as more people seek stable, appreciating assets, I expect celebrities will continue to invest in real estate. It provides not just financial security but also a diversified portfolio, which is essential in today’s economy.
Editor: Thank you, Lee, for sharing your insights with us today! It’s always a pleasure.
Lee Su-min: Thank you for having me! It was a pleasure discussing this topic.
Editor: And thank you to our readers for tuning in! Stay with Time.news for more engaging interviews and updates on the latest in real estate and celebrity news.