Jennie bought the Iraqi Embassy building in Seoul for 20B won in cash

    It has belatedly come to light that Jennie of the group Blackpink purchased a building in Yongsan District in Seoul for 20 billion won.

    According to a media report on the 11th, Jennie bought a building located in Dongbinggo-dong, Yongsan District, for 20 billion won in May last year and completed the transfer of ownership in December. As no separate mortgage was registered in the official registry, the transaction appears to have been made entirely in cash.


    The building, completed in 1970, is located in the northern part of Dongbinggo-dong, where many embassy residences are clustered, and is currently used as the Embassy of Iraq in Korea. It has a land area of 595 square meters, a total floor area of 551.08 square meters, and consists of one basement level and two above-ground floors. The price comes to about 1.11 billion won per pyeong.


    In July 2023, Jennie also purchased a luxury villa unit on two basement levels at La Terrasse Hannam in UN Village, Hannam-dong, for 5 billion won, paying the full amount in cash. The villa she bought has an exclusive area of 244.97 square meters (about 74 pyeong) and a supply area of 286 square meters (about 87 pyeong), with five bedrooms and three bathrooms.


    Jennie Buys 20 Billion Won Building After 5 Billion Won Villa, Reportedly Paid Fully in Cash - MK
    It has belatedly come to light that Jennie of the group Blackpink purchased a building in Yongsan District in Seoul for 20 billion won.According to a media…
    www.mk.co.kr

    There is a reason why Koreans buy property as much as they can


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  • AllKill VIP
    Quote from bartkun

    Considering that South Korea's population is shrinking I'm curious at what year all those properties will start losing value.

    Small villages will probably die first. In Italy, Japan and Spain there are thousands of abandoned villages where no one lives. In Italy you can buy a house for a euro. Capital cities can take over 100 years to die. Probably the opposite, people will want to leave small dying towns and villages and move to bigger cities, and real estate prices will only increase in big cities like Seoul.

    Quote from Water_oWl

    currently used as embassy and she bought it? Is that really possible ?

    the area will be undergoing redevelopment.


    Completed in 1970, the building is located in the northern part of Dongbinggo-dong, a district densely populated with ambassadorial residences. It currently houses the Iraqi Embassy in Korea. The Dongbinggo area is undergoing full-scale development, intertwined with the redevelopment of nearby Hannam New Town and the creation of Yongsan Park.


    I assume she will eventually tear down the building and build a new one considering how old it is.

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