Shinhwa’s Shin Hye-sung Sells Nonhyeon-dong Building for 5.55 Billion KRW, But Did He Actually Take a Loss?

Shinhwa member Shin Hye-sung has reportedly sold his building located in Nonhyeon-dong, Gangnam-gu, Seoul.

According to the Korea Economic Daily on the 12th, the building, which Shin Hye-sung purchased for 4.9 billion KRW in May 2022, was sold for 5.55 billion KRW on the 29th of last month.

The building spans a land area of 180.9㎡ and consists of one basement level and four floors above ground. It is located between Eonju Station (Line 9) and Hakdong Station (Line 7).

Comparing the simple purchase and sale prices, it appears he made a profit of approximately 650 million KRW over about four years.

However, the Korea Economic Daily cited real estate industry analysis suggesting that he may have actually accepted a loss when factoring in the costs of large-scale remodeling, building extensions, acquisition and registration taxes, and bank interest.