South Korean singer Super Junior's Kyuhyun is selling a property that was previously used as a guest house. According to Hankyung's report, Kyuhyun's building located in Namsan-dong, Jung-gu, Seoul was sold for 9.5 billion KRW (approx. 7 million USD).
If including the land located behind the building, the total price of the property reaches 11.8 billion KRW (approx. 8.7 million USD). The building has a total floor area of 1,714㎡ with a total of six floors and one basement.
At that time, Kyuhyun bought the building for 6 billion KRW. The adjacent 70㎡ two-story building was purchased for 2.3 billion KRW, bringing the total purchase price to 9.6 billion KRW. So Kyuhyun made a profit of around 6 billion KRW from the sale of the property.
Kyuhyun initially purchased the property in June 2014. The building is located in a very strategic location because it is near Myeongdong Station and major buildings in Seoul. The building was originally used to run a photo studio business and was later converted into a guesthouse and cafe.
The business is said to be run by Kyuhyun's father and sister. "It was the '10 million tourists' era in Korea. Myeongdong had a lot of tourists, so we opened a guesthouse. My parents and my sister ran it, and the guesthouse had about 60 rooms," Kyuhyun said on Radio Star.
Because it was so popular, the guesthouse business once made a profit of 17 million KRW (approx. $12,500) in just three days on the weekend. This achievement made Kyuhyun get praise and was called a successful real estate investment.
But not long after the nickname was obtained, his business ran into trouble during the COVID-19 pandemic. There was a sharp decline in tourism, making his business quiet.
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