Rain has added another property to his impressive real estate portfolio, purchasing a building in Apgujeong Rodeo.
According to reports from the real estate industry and Sports Seoul on August 1, it was belatedly revealed that Rain bought the building under the name of Mega Big Entertainment, which his father represents, for approximately 15.9 billion KRW (~11.6 million USD) on January 16, 2024. He completed the final payment and transferred ownership on February 28. The building is now entrusted to Woori Asset Trust.
Located on the path from Hanyang Apartments to Rodeo Street, the building is surrounded by various businesses, including galleries, salons, offices, and restaurants. It has a land area of 315.3㎡ and a total floor area of 1,085.7㎡. The transaction price was about 166.7 million KRW (~121,731 USD) per 3.3㎡. The building features one basement level and six floors above ground, with parking facilities included.
In 2021, Rain and Kim Tae Hee jointly purchased a building in Seocho-dong, Seocho-gu, for 92 billion KRW (~67.2 million USD). Rain owns 60% of the equity in the building, while the rest is held by a company represented by Kim Tae Hee. The building's registry shows a maximum bond amount of 54 billion KRW (~39.4 million USD), suggesting they took out a loan of around 45 billion KRW (32.9 million USD) at the time.
The Seocho-gu building, with two basement levels and eight floors above ground, is just a two-minute walk from Exit 10 of Gangnam Station on Line 2, highlighting its prime location. Despite some vacancies due to COVID-19, rumors circulated that the couple listed the building for sale at around 140 billion KRW (~102.3 million USD). However, the famous burger franchise Shake Shack opened a branch in the building last March, generating buzz. The monthly rent is reported to be in the 100 million KRW (~73,114 USD) range.
Rain and Kim Tae Hee reportedly became multi-millionaires through real estate sales in 2022, as highlighted in KBS2’s 'Live Information.' According to the broadcast, they sold a building in Cheongdam-dong, Gangnam-gu, making a profit of 39.8 billion KRW (~29.1 million USD). They also made a profit of 3.2 billion KRW (~2.4 million USD) by selling a luxury home in Itaewon-dong, Yongsan-gu, which they had purchased in 2016 for 5.3 billion KRW (~3.9 million USD) and sold for 8.5 billion KRW (~6.2 million USD) in May.
Thanks to these successful real estate investments, the couple has been very successful in the real estate world, with the broadcast emphasizing their prowess in real estate investment.
Other celebrities have also seen success in real estate investment. Singer Seo Taiji sold a building in Nonhyeon-dong, Gangnam-gu, which he purchased for 5 billion KRW (3.7 million USD) in 2002, for 35 billion KRW (~25.6 million USD) in April, making a profit of 30 billion KRW (~22 million USD). Lee Hyori and Lee Sang Soon sold a building in Hannam-dong, which they purchased for 5.8 billion KRW (~4.3 million USD) in 2019, for 8.8 billion KRW (~6.4 million USD) last month, making a profit of around 3 billion KRW (~2.2 million USD).
Celebrities typically purchase real estate in Gangnam, a highly liquid and stable area favored by many investors. Recently, areas like Hannam-dong and Seongsu-dong have also gained attention. Residential properties are often purchased for practical use due to tax burdens and regulations, while buildings are frequently bought for investment purposes due to fewer restrictions.
Rain and Kim Tae Hee, known as one of the entertainment industry's power couples, married in 2017 and have two children. They continue to garner admiration not only for their successful careers and happy family life but also for their savvy real estate investments.
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