South Korean singer and actress Lee Hyeri, a member of the K-pop group Girl’s Day. Photo from Lee’s Instagram
According to Chosun Biz, citing local real estate industry sources, 32-year-old Lee Hyeri, a member of the K-pop group Girl’s Day, has listed a building and its land in Seoul’s upscale Gangnam District with an asking price of 14.5 billion won (US$9.8 million).
The property has two basement levels and six floors above ground, with a total floor area of 684.4 square meters. Lee purchased a multi-family house on the site in August 2022 through a family corporation called Empo. The original structure was later demolished and replaced with the current building.
Industry estimates suggest Lee spent roughly 3 billion won on acquisition taxes and construction costs, bringing the total investment to about 10.7 billion won. If the property sells at the listed price, it could generate a profit of 4 billion won before other expenses.
Lee also owns another building in Gangnam, purchased in March 2021 and later redeveloped. That property includes one basement level and four floors above ground, with a total floor area of nearly 500 square meters.
The listing comes as entertainers and other wealthy investors increasingly move to sell properties ahead of the scheduled end of a temporary suspension on heavier capital gains taxes for owners of multiple homes and corporations.
According to The Korea Times, capital gains taxes on real estate sales in the country currently range from 6% to 45%. Starting May 9, owners of two homes in designated speculative zones in Seoul and neighboring Gyeonggi Province will face an additional 20% tax, while those with three homes will be subject to a 30% surcharge on top of the base rate.
The tax measure was introduced under the administration of former South Korean President Moon Jae In but was later postponed by his successor, former President Yoon Suk Yeo, according to The Korea Herald.
Besides Lee, actor Ha Jung Woo, 48, is reportedly selling two buildings located in Seoul’s Jongno and Songpa districts.
Meanwhile, actress Kim Tae Hee, 46, sold a luxury apartment unit at Hannam The Hill in Seoul’s Yongsan district for 12.77 billion won in November last year. She had purchased the property in August 2018 for 4.23 billion won, realizing a capital gain of about 8.4 billion won over seven years.
Kim also jointly owns a commercial building near Gangnam Station in Seoul valued at around 140 billion won.
Actor Jo Jung Suk, 46, sold a building in Seoul’s Gangnam district for 11 billion won in August last year through a corporation he established with his wife, 45-year-old singer Gummy. Reports said the deal generated capital gains of about 7 billion won.
Former model Byun Jung Min, 50, also sold a small building in Seoul’s Yongsan District in June last year, reportedly earning a profit of about 2.3 billion won.