According to Money Today on August 27, Psy purchased two units at “Upper House Namsan” on July 11, 2022, measuring 252.91㎡ (76 pyeong) and 239.25㎡ (72 pyeong) respectively. The construction was completed in July of last year, with Psy finalizing the payment for the 239.25㎡ unit in September 2022 and the larger 252.91㎡ unit on July 31, three years after the initial contract.
The sales price for a 252.91㎡ unit at Upper House Namsan is estimated between ₩10.5 billion and ₩12.5 billion. Based on these figures, the combined value of Psy’s two properties exceeds ₩20 billion.
Registry documents show a maximum secured bond of ₩3.652 billion on the 239.25㎡ unit, suggesting Psy likely took out a loan of around ₩3.04 billion, as secured bonds are typically set at 120% of the loan amount. The larger 252.91㎡ unit is believed to have been purchased entirely in cash.
In addition to the new acquisitions, Psy owns multiple commercial buildings in Seoul’s Gangnam-gu (Sinsa-dong), Yongsan-gu (Itaewon-dong), and Seodaemun-gu (Changcheon-dong). According to Real Estate Planet, the combined market value of these buildings is estimated at ₩62.2 billion (₩20.8 billion in Sinsa-dong, ₩22.8 billion in Itaewon, and ₩18.6 billion in Changcheon-dong). When including the new villas, Psy’s total real estate holdings surpass ₩80 billion.
“Upper House Namsan” is a 19-unit luxury villa complex developed in 2022 by Shinwon Construction on the former site of Namsan Gymnasium.
Sources: Nate
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