Stray Kids rapper Changbin, born in 1999, has purchased a property in Apgujeong, Seoul, for 9.4 billion KRW (approx 6.3 million USD) entirely in cash, according to records. The property is part of the Hyundai Apartments (Hyundai 1 and 2) in Apgujeong, a redevelopment area in Gangnam’s 3rd district. The complex, which is undergoing reconstruction, will feature up to 65 floors across 30 buildings, totaling around 5,000 households.
According to court registry documents, Changbin acquired a 198㎡ apartment in the Hyundai complex last February under his name alone. No separate mortgage was registered, suggesting the full payment was made in cash.
The same apartment size recently set a record price of 12.7 billion KRW (8.5 million USD) for a unit on the 7th floor. Changbin’s purchase was 3.3 billion KRW (approx. 2.2 million USD) cheaper than that record, and even compared to the current lowest asking prices, it remains more than 1 billion KRW (approx. 665,058 USD) below market.
An industry insider noted, “He reportedly bought a royal-floor unit in a building with panoramic Han River views. Even now, quick-sale units are over 2 billion KRW cheaper than record prices, but the price difference depending on the floor is significant. Although reconstruction will take time, this seems like an investment with long-term potential.”
The Hyundai 1 and 2 apartments in Apgujeong were originally built in 1976, consisting of 13 buildings and 960 households. Located east of Nonhyeon-ro along the Han River, it is considered a prime property within Apgujeong. The district’s 3rd redevelopment zone, which includes Hyundai 1 and 2, is preparing to select a construction company in May. Last October, four years and seven months after the establishment of the residents’ association, the district passed the Seoul City redevelopment review, with Hyundai Engineering & Construction showing interest in the bid.
Other notable owners in Hyundai 1 and 2 include TV personality Yoo Jae Seok and singer Max Changmin. As the Apgujeong redevelopment zone is a designated land transaction permission area, Changbin is presumed to be living in the apartment. Current asking prices for the same 198㎡ unit range from 10.5 billion to 16.5 billion KRW.
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