Recent revelations from Herald Corp highlight a notable increase in the value of BTS member Jungkook’s property, with its worth soaring to an impressive 10.0 billion KRW (about 7.52 million USD) in less than four years.
Jungkook first acquired this property in the upscale neighborhood of Itaewon, Seoul, in December 2020 for 7.63 billion KRW (approximately 5.74 million USD).
Top Picks For You BTS’ Jungkook surprises fans with support for NewJeans on Instagram; Netizens react HYBE says it’s ‘Checking the Artist’s True Intentions’ as Jungkook shows support for NewJeans with follow-up post At that time, the house was already a noteworthy asset, but Jungkook decided to take a more ambitious approach. In 2021, he opted to demolish the existing structure and decided on a major redevelopment project. The new building, which is now nearing completion, features two basement levels and three floors above ground.
The construction has transformed the property into a modern and luxurious residence, further enhancing its value. As of 2024, the property’s current asking price has jumped to between 8.00 billion KRW (about 6.
02 million USD) and 10.0 billion KRW (approximately 7.52 million USD), according to Anbu Real Estate Brokerage , which specializes in the Itaewon area.
The steep rise in value reflects the property’s prime location within one of Seoul’s most prestigious districts. Itaewon is renowned for its high-end real estate and is often referred to as the ‘Korean Beverly Hills’ due to its array of luxury homes, embassies, and proximity to exclusive international schools. The neighborhood also enjoys close proximity to Hannam-dong, a district favored by South Korea ’s elite, including prominent chaebols and high-profile families.
Despite the impressive increase in value, it remains uncertain whether Jungkook intends to use the property as a personal residence or if it is an investment. The high asking price underscores the property’s demand, driven by its prestigious location and the general scarcity of single-family homes in the area. Potential buyers, particularly those with an eye on the luxury market, are keenly watching the property.
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