TWICE member Nayeon has reportedly made a massive real estate investment, purchasing land and a building in Seoul’s prestigious Cheongdam-dong neighborhood for ₩9.50 billion KRW (about $6.88 million USD).
According to real estate industry sources and property registration records reported on August 28, Nayeon signed the purchase agreement on May 3. The transfer of ownership was officially completed on August 24. The property consists of both land and an older building located in Cheongdam-dong, Gangnam-gu, an area famous for its luxury residences, entertainment companies, galleries, designer boutiques, and high-end commercial properties.
The existing building has one basement level and two floors above ground. Following an expansion in 2010, it currently has a total floor area of approximately 218.87㎡ (2,356 square feet).
However, industry experts believe the existing building itself may not have been the primary reason behind Nayeon’s multimillion-dollar purchase. The building is relatively old, while the land occupies a desirable corner lot bordering two roads, potentially making the site particularly attractive for redevelopment.
The property’s registered use has also reportedly been changed from a combination of residential and neighborhood commercial space to entirely neighborhood commercial facilities.
Real estate experts consequently believe Nayeon may have purchased the property with its land value and potential for constructing a new building in mind rather than simply collecting rental income from the existing structure.
Her new building. | Chosun
A senior real estate expert explained that when the purchase price is calculated based on the land area, Nayeon paid approximately ₩155 million KRW (about $112,000 USD) per 3.3㎡, the traditional Korean measurement corresponding to one pyeong.
“Because the building is old, there is a strong possibility that the purchase was made with the value of the land and the potential for new construction in mind rather than the existing building. Luxury residential complexes, entertainment companies, galleries, and fashion and luxury-related offices are concentrated nearby. As it is a corner lot, it has relatively high potential for utilization.”
Property records additionally show a maximum secured claim of ₩10.2 billion KRW (about $7.39 million USD) registered against the property.
A maximum secured claim does not necessarily represent the exact amount Nayeon borrowed, but it indicates that financing secured against the property was established.
The purchase represents a particularly significant investment for the TWICE star. Nayeon debuted with TWICE under JYP Entertainment in 2015 and has since enjoyed more than a decade at the top of the K-Pop industry, both as a member of the group and as a successful soloist.
Cheongdam-dong, meanwhile, remains one of the most prestigious and expensive areas of Seoul, making properties with redevelopment potential particularly valuable.