New Owner of $15 Million Apartment Next Door to Bang Si Hyuk Revealed to be a Southeast Asian

Bang Si Hyuk’s new neighbor, who bought Korea’s most expensive apartment for $15 million, has been unveiled

According to News1 on September 19th, it has been confirmed that a Malaysian man, A, in his 60s, purchased a PAARC Hannam apartment next door to HYBE Chairman Bang Si Hyuk’s, in Seoul’s Yongsan-gu, Hannam-dong, with a floor area of 268㎡ for 18 billion won ($15 million), the highest transaction price in history.

The previous owner, B, in his 30s, purchased the apartment for 11.7 billion won in November 2021 and profited 6.3 billion won in just 1 year and 9 months.

According to the media, A applied for the transfer of ownership just about a week after the sales contract was signed.

When sellers and buyers enter into a real estate sales contract, they typically agree to pay the balance 1 to 3 months later, but if there are special circumstances, the payment of the balance can be postponed beyond that.

If this period is extended, there is a possibility of resale to a third party by the seller, so it appears likely that the buyer applied for the transfer of ownership to prevent this.

Hannam-dong in Yongsan-gu is considered one of the most affluent urban areas in Seoul, rivaling the Gangnam area. 

Luxury homes such as PAARC Hannam, Hannam The Hill, and Nine One Hannam are highly favored not only by high-income individuals in Korea but also by foreign wealthy individuals for residential purposes.

BTS’s resounding success has established Chairman Bang as a global entrepreneur overnight. He is also a resident of PAARC Hannam. In September 2021, he purchased approximately a 268.67㎡ apartment for about 10.8 billion won. Last year, the same area was sold for 13.5 billion won, resulting in a profit of 2.7 billion won in just one year.

Not only Bang Si Hyuk but also the couple Taeyang-Min Hyo Rin and Psy reside in this complex.

Source: Wikitree