Korea’s real estate market has been on a meteoric rise.
According to index Statista, housing prices in Seoul were up 40% in just the last two years alone.
The housing prices have been exasperated by the Korean bank’s relatively lax loaning practices and an influx of foreign investors.
Although this has led to many Koreans fearing a bubble, many of your favorite Korean celebrities are cashing in.
International actress Song Hye Ko is one of these celebrities. According to reports, star actress Song Hye Kyo recently sold a building that netted her a profit of ₩2.90 billion KRW (about $2.23 million USD).
On August 4, KBS‘s Entertainment Company Live reported on celebrities and their most recent real estate deals.
According to the episode, Song Hye Kyo bought a private home that was previously owned by star couple Cha In Pyo and Shin Aera in 2005, for ₩5.00 billion KRW (about $3.84 million USD).
Cha In Pyo and Shin Aera were two of Korea’s biggest actors in the late 80s and during the 90s. The couple married in 1995 and are well-regarded in Korea as philanthropists.
After three years on the market, the house was bought in 2022 for a whopping [7900000000[/krw]. The deal saw the actress make a profit of 2900000000[/krw].
Song Hye Kyo is one of Korea’s most successful actresses in the industry’s history. The actress debuted in 1996 and instantly shot to fame in the drama Autumn In My Heart and became internationally renowned through the rom-com classic Full House.
The actress would later cement her status as a blockbuster juggernaut through international hit dramas That Winter, The Wind Blows, and Descendants Of The Sun. The actress most recently starred in the 2022 drama Now, We Are Breaking Up.
Song Joong Ki’s Hawaii newlywed house with his wife Katy has been revealed.
On September 4th, tvN’s ‘Free Doctor’ broadcasted a special episode on ‘Overseas Real Estate of Celebrities.’
Journalist Ahn Jin Yong said, “Song Joong Ki was living in Rome, Italy, his wife’s hometown, after giving birth in June. Song Joong Ki has several homes. He owns homes in Seoul, Rome, and Hawaii.”
Real estate experts explained that Song Joong Ki’s Hawaii condo is located in the up-and-coming neighborhood Kaka’ako: “Hawaii has higher real estate prices than the average in the U.S. mainland. Song Joong Ki purchased a condo in December 2019 for $2.28 million, equivalent to approximately 2.77 billion won at the exchange rate at that time.”
Song Joong Ki’s condo is revealed to be about 46 square meters in size, with 2 bedrooms and 2 bathrooms. This type of unit that Song Joong Ki purchased is known to be one of the most popular units, as it has a panoramic view of Diamond Head and Waikiki Beach.
A similar-sized condo in the area where Song Joong Ki chose is on sale for $2.8 million as of last year. Real estate experts said, “As the location improves, just like the prices of old houses have risen, Kaka’ako is an emerging area that developed rapidly in the 2010s, connecting Waikiki and downtown.”
Large-scale residential development projects, including condos, are still ongoing in this area, so it is expected to achieve even higher prices in the future.
Song Joong Ki announced his marriage to British actress Katy Louise Saunders in January. They soon tied the knot, and in June, they shared the news of their son’s birth.
