Hannam Home Bought for KRW 4.3 Billion Now Worth KRW 20 Billion... Lee Jong-suk's Real Estate Assets Top KRW 63 Billion

Bought Laterrace Hannam at a 50% discount
Secured ownership of Nine One Hannam under a "rent first, sell later" arrangement

The value of actor Lee Jong-suk's home at Laterrace Hannam, which he bought for KRW 4.3 billion, is said to have risen nearly fivefold.

Actor Lee Jongseok. tvN

According to the YouTube channel Wanderplanet on November 8, Lee Jong-suk initially purchased a 284-square-meter unit (about 85 pyeong) at Laterrace Hannam, a luxury residential complex in Hannam-dong, Yongsan-gu, Seoul, for KRW 4.3 billion in March 2015.

At the time, the builder, Tongyang Group, was reportedly facing financial difficulties and offered the home at a discount of more than 50% off its original sale price. The estimated current market price for a unit of the same size at Laterrace Hannam is about KRW 20 billion. Compared with Lee's original purchase price, the property's value has increased about 4.7 times in 11 years. Lee is reportedly still holding the home and has neither sold nor rented it out.

Lee is also said to have lived at Nine One Hannam, another luxury residential complex in Hannam-dong, since 2019. He chose the complex's largest unit, with an exclusive area of 334 square meters (about 101 pyeong). The duplex unit has four bedrooms and five bathrooms, as well as a private terrace and use of a garden on the first floor. Its sale price was about KRW 7.3 billion.

At the time, Nine One Hannam was offered under a “rent first, sell later” arrangement, and Lee reportedly moved in under a lease. After renting the home for about two years, he is said to have acquired ownership. The estimated current market price for a unit of that size at Nine One Hannam is about KRW 27 billion, an increase of about KRW 19.7 billion over its sale price. That is about 3.7 times its original sale price.

The combined purchase prices of the two homes total KRW 11.6 billion, while their combined estimated current market value is KRW 47 billion. This represents an estimated gain of about KRW 35.4 billion. However, this calculation is based on estimated market prices and does not account for taxes or other transaction costs.

Including other real estate holdings, Lee's total real estate assets are reportedly worth more than KRW 63 billion. This figure, too, is based on estimated market prices cited in the market and may differ from the actual value of his assets. It also differs from his net worth, which would account for liabilities such as loans.

Meanwhile, Nine One Hannam is one of South Korea's best-known ultra-luxury residential complexes. It is reportedly home to famous entertainers, including singer G-Dragon and BTS members RM and Suga. Actor Joo Ji-hoon, who stars alongside Lee in Disney+'s original series “The Remarried Empress,” is also said to live in the complex.

This content was produced with the assistance of AI translation services.