Rumors that singer-actor Rain and his wife Kim Tae-hee have recently planned to sell a building are circulating.
According to the real estate industry on October 25th, the Samyoung Building in Seocho-dong, Seoul purchased by Rain last year will be put up for sale for the first time after a year. Rain plans to start selling the building soon after he selects a sales organizer. With a land area of 147 pyeong (486m²) and a total floor area of 881 pyeong (2904m²), this building has two basement floors and 8 ground floors. It is occupied by skin clinics, dental clinics, oriental medicine clinics, and cafes. The monthly rent is about 200 million, and the total amount of rental deposits is known to reach 4 billion won if the building is fully occupied.
In addition, the building is located in the area near many stations, a 2-minute walk from Gangnam Station. Rain bought the building last year with a total of 92 billion won, 620 million won per 3.3m² of land. Rain held six-tenths of the stakes, and the rest was held by an incorporated company represented by Kim Tae-hee.
The two’s loan amount was estimated to be around 45 billion won. It is known that Rain wants to sell the building at 140 billion won. If the transaction is made, Rain will make nearly 50 billion won in profits compared to the purchase price after one year.
The sale of 900 million won per 3.3m² required by Rain is the highest ever for commercial real estate transactions in Korea. Rain’s decision to sell the building a year after his purchase is analyzed to have resulted from the surge in market interest rates.
In fact, Rain and Kim Tae-hee have made tens of billions of won in capital gains from real estate investments. Kim Tae-hee sold the building in Yeoksam-dong, Seoul, which she purchased with 13.2 billion won, for 20.3 billion won in March last year, earning a profit of 7 billion won. Rain also bought the Cheongdam-dong building, which was used as his agency’s office building, with 16.8 billion won in 2008 then sold it for 45.9 billion won at the end of June last year.
Meanwhile, Rain and Kim Tae-hee recently suffered due to the rumor of a married top star having an affair with a female professional golfer. At that time, Kim Tae-hee’s side said that the rumor was groundless, and also delivered Kim Tae-hee’s reactions to the rumor. According to the agency, Kim Tae-hee laughed out loud as soon as she heard the rumor for the first time.