Top actress Son Ye Jin made a huge real estate move by building a brand-new commercial property in one of Seoul’s busiest areas—but shockingly, the building has been sitting empty for over six months!
According to a report by News1 on March 9, Son Ye Jin purchased an old two-story commercial building near Gangnam Station in 2022 and transformed it into a modern five-story structure by June last year. However, despite the prime location, the building hasn’t secured any tenants yet!
In August 2022, the actress spent 22.4 billion KRW to buy the 277.7㎡ (about 84-pyeong) property near Gangnam Station (Line 2). She immediately began reconstruction, and now, the new building spans five floors above ground plus a basement level, covering a total 724㎡ (219 pyeong).
To fund the project, Son Ye Jin reportedly took out a 15 billion KRW loan, with the building’s maximum bond amount reaching 18 billion KRW.
Even though Gangnam Station is one of the busiest areas in Seoul, real estate experts say the high rental prices are making it hard to find tenants.
For example, the second floor rent is around 300,000 KRW per 3.3㎡ (one pyeong). That means a 30-pyeong space would cost about 9 million KRW per month, plus an additional 1 million KRW in management fees!
Because of these steep rental costs, industry insiders believe potential tenants are hesitant to move in, causing delays in leasing out the space.
With the building sitting empty for months, many are wondering if Son Ye Jin will adjust the rent to attract businesses. Will she strike a deal soon and turn this investment into a huge success, or will the property remain vacant even longer? Stay tuned!
Source (1)
