Choi MIN HWAN (FTISLAND), who is ”on hiatus due to personal issues,” had his luxury house up for sale... Who is the new tenant who bought it for about 400 million yen?

It has been confirmed that the buyer of the house where Choi Min Hwan of the Korean boy band FTISLAND lived for 3.8 billion won (approximately 410 million yen) is singer Younha.
This house is the one that Min Hwan bought for 1.2 billion won (approximately 120 million yen) over 10 years ago. According to a certified copy of the real estate registry released today (28th), the house is located in Yu, Gangnam-gu, Seoul.
The detached house located somewhere in Luhyeon-dong was purchased by Younha in August this year for 3.8 billion won, and the transfer of ownership registration was accepted on November 18th.
On the same day, a mortgage was also established for the maximum bond amount of 1.725 billion won (approximately 187 million yen). The maximum amount for regular bonds is 120% of the loan amount.
Considering that the rent is set at a certain level, it is estimated that the property was purchased with a loan of about 1.4 billion won (about 150 million yen). The location of Younha's existing address was owned by someone else and the property was not immovable.
It is thought that they will sell off their property and move. The house has a total floor area of 408.74 square meters (about 123.64 tsubo) and a land area of 312 square meters (about 94.38 tsubo).
This means that the property was traded for approximately 40 million won (approximately 4.35 million yen) per 1.3 square meters (per tsubo).
Previously, MIN HWAN bought this house for 1.25 billion won (approximately 100 million yen) in 2015.
He bought it for 25 million yen and has owned it exclusively. After buying and demolishing the old house, he built a new multi-family house with one basement floor and one or two floors above ground, and has lived there with his family. Yulhyeon-dong is located in Cha, Gangnam-gu.
Located south of Gok-dong and adjacent to the east of Segok-dong, this house is in a quiet residential area within Yulhyeon-dong. When Min Hwan bought this house, the highest bond price was 1.05 billion won.
The price was set at 100,000 won (approximately 105 million yen), but it is estimated that he borrowed 800 to 900 million won (approximately 80 to 90 million yen) from the bank to buy it.
Even taking this into consideration, it is analyzed that a considerable profit was made from the market difference.