Seongsu-dong, which was an industrial place but now has many development factors, is the newest 'hot place' for stars. The residential and commercial complex Galleria Fore is near the Seoul Forest and the Han River is clearly visible from it. Around it are various development factors in which celebrities invest their money in. They have been turning to Seongsu-dong and not Chungdam-dong or Gangnam for several years.
The reason this industrial place started booming with investors is thanks to Kim Soo-hyun and Won Bin. The "What's Your Star ??" actor Kim Soo-hyun bought a 217㎡ residential space for 4.2 billion won in Galleria Fore instead of a luxury villa in Gangnam. The space is now worth 4.5 billion won. Galleria Fore is 7 floors down and 45 floors up with two buildings that houses 230 homes. It is 168.4~271.8㎡ and Kim Soo-hyun bought a house that is 20 stories high up and has a view of the Seoul Forest and Han River. This place is one of the most expensive places in Gangbuk and other famous people that live here are G-Dragon, SM Entertainment CEO Lee Soo-man, Han Ye-seul and more. Actor Yoo Ah-in used to live in the Penthouse.
Won Bin also bought a four-story residential building for 2.1 billion won in 2014. He contributed in creating the Seongsu-dong Wave. His building is located just behind the Galleria Fore, 231㎡ in plottage, 616㎡ in total floor area, one story down and 4 stories up. He bought it for 30 million won per 3.3㎡. The current price is estimated to be 3.5 billion won.
Kwon Sang-woo, who has two buildings in Chungdam-dong and Bundang, bought a building in Seongsu-dong which is 946㎡ by 588㎡ and two stories high for 8 billion won. This building is just 300 meters away from Won Bin's. Near the Ttukseom on the line 2, are factories and multiplex houses.
Actor Kim Min-joon also bought a building 165㎡ by 253㎡ and three stories high for 1.3 billion won last year in April.
Actress Lee Si-young just signed a contract for a 165㎡ by 485.35㎡ building one floor down and four floors up for 2.2 billion 25 million won. She borrowed 800 million from the bank, 300 is deposit and monthly rent is 3.5 million won so actually the real buying price is 1.1 billion won. Her annual profit rate is just 2.12% but she invested in this building for the sake of development. The current price of the building is 2.8 billion won.
Professional baseball star Lee Seung-yup bought a building 1478.7㎡ by 9881.46㎡, three stories down and ten stories up for 29.3 billion won. This building has been known as the Esquire building and a new subway station opened just by it. The current market price of the building is 3.5 billion won.
A real estate agent near the Seongsu-dong Café Street says, "The price of buildings have gone up a lot since cafes and restaurants started popping up everywhere and since celebrities started investing in this neighborhood. The prices have gone up to 10 million won per pyeong since last year. The area which Won Bin's building is located in have gone up to 50 million won per pyeong so no one is really buying in right now. Those celebrities who have invested here since a long time ago will definitely see some profit".
Entertainment companies from Gangnam are moving to Seongsu-dong. Girl's Day, MC Mong and actors like Ji Hyun-woo's agency Dream Entertainment has bought into a building worth 10.9 billion won. It's one story down and 9 stories up. It's branching company Well Made and Yedang have also moved into this building. 4Minute and Beast's Cube Entertainment moved into a building near Seongsoo Station last March. Ji Ho Entertainment, Banana Culture, Eco Global Group and Star Village Entertainment have also moved into Seongsu-dong.
- Why did the stars go to Seongsu-dong?
Why did they move to this messy place that used to be an industrial area? Seongsu-dong is 480,000,994㎡ wide with the Seoul Forest and Han River near it and transportation to move back and forth Gangnam and Gangbuk. Just across from the Dongho Bridge and Seongsoo Bridge is Apgujeong, Chungdam and close to Gangbyeon-bukro. It is also easy access to Yeoeuido, Mokdong and Sangdam-dong. The subway line 2 also leads to Ttukseom, Bundang and Seoul Forest Station.
Agencies are looking at Seongsu-dong as an alternative to Gangnam because of its cheaper rent and convenient transportation system. This year, Apgujeong rent went up to 178,300 won per 3.3㎡ with a deposit of 3.15 million but in Seongsu-dong it's 68,400 won with deposit of 1.03 million won.
Seongsu-dong also have many development factors so it has a lot of future value. The development presentation will be made next year and the city refurbishing project is also going to take progress. The old factories and buildings have been appointed as priority development areas and the IT industry and development such as IT, BT and R&D companies have been moving in to create a cutting edge industrial area.
The Ttukseom area is turning into a luxurious residential area from May next year. In addition, by the year 2018, an area for young artists and designers will be created near the Seoul Forest. More cafes and restaurants, galleries and leisure facilities for young people have stood in and created a name for themselves already.
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"Kim Soo-hyun, Won Bin, Kwon Sang-woo and Lee Si-young: Real Estate Stars of Seongsu-dong "
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