‘15.65 Billion Won’ Nine One Hannam Unit Bought by Cash-Rich 20-Something from Jeonju

[Financial News] A person in their 20s living in Jeonju, Jeonbuk has reportedly purchased a 244.3478m2 (about 74-pyeong) unit in the Nine One Hannam complex in Seoul for 15.65 billion won, drawing public attention.
According to a March 31 report by Kukmin Ilbo, there were 239 apartment sale transactions registered from March 1 to 30 on the Ministry of Land, Infrastructure and Transport’s Actual Transaction Price Disclosure System for the Gangnam 3 Districts (Gangnam-gu, Seocho-gu, and Songpa-gu) and Yongsan District. Among them, only eight deals were priced at 2 billion won or more. In particular, several transactions involved out-of-town wealthy buyers snapping up properties priced in the 10-billion-won range amid the recent housing price downturn, as well as many trade-up purchases by residents from nearby areas.
Those buying in the very top locations were effectively “cash-rich” buyers. The Nine One Hannam apartment with a 244.3478m2 (about 74-pyeong) exclusive area and a sale price of 15.65 billion won turned out to have been purchased by a buyer in their 20s residing in Jeonju, Jeonbuk. Asking prices for units of the same size in this complex are currently in the 18–23 billion won range. The buyer, who acquired the unit for tens of billions of won below market prices, was born in 1996 and is 29 years old. The property’s registry reportedly shows a jeonse right of about 4 billion won established on it, making it a form of ultra-high-priced gap investment.
Another case involved a 125.17m2 (about 38-pyeong) unit in Woosung Apartments in Daechi-dong, which was bought for 4.07 billion won by two buyers believed to be a married couple in their 40s or 50s living in Songdo International Business District (Songdo IBD) in Incheon. A comparable unit in the same building is currently listed for 4.3 billion won.
gaa1003@fnnews.com An Ga-eul Reporter