TWICE's Jihyo Invests in Seoul Real Estate Amidst Redevelopment Plans

Jihyo, a member of the popular K-pop group TWICE, has made headlines with her recent real estate investment in Seoul's Seongsu-dong area, purchasing a building for approximately 40 billion won (around $33 million USD).

According to real estate industry sources, Jihyo acquired the property in March of last year. The building, which spans from a basement level to three above-ground floors, was bought without any mortgage, suggesting a full cash transaction.

A month after the purchase, Jihyo registered as a residential rental business operator, likely to take advantage of tax benefits. The building, constructed in 1986, currently houses a real estate office and restaurant on the first floor, offices on the second, and residential space on the third. The land area is approximately 152 square meters, with a total floor area of 330.21 square meters.

Industry experts speculate that Jihyo's investment is aimed at capitalizing on future redevelopment gains rather than immediate rental income. The building is part of the 'Seongsu Strategic Maintenance Zone 2,' a large-scale redevelopment project along the Han River, which includes plans for high-rise apartment complexes. Its proximity to Seongsu Station and a major intersection further enhances its value.

Real estate professionals anticipate that Jihyo will secure rights to a new apartment unit of about 114 square meters once redevelopment is complete. A local real estate agent noted that the building was purchased at a relatively low price compared to its appraised value, with nearby properties selling for over 1 billion won per pyeong (approximately 3.3 square meters), indicating potential for significant appreciation.

In other news, TWICE recently collaborated with Coldplay on the track 'WE PRAY (TWICE Version)' and performed as the opening act for Coldplay's concert in Korea. The group is also set to headline the Lollapalooza Chicago music festival this August.