“I Wouldn’t Sell Even for 5 Billion Won” ... Why Lee Kye-in Has Lived in Namyangju for 31 Years

[Financial News] Actor Lee Kye-in has opened up about how difficult it is to sell the country house in Namyangju, Gyeonggi Province, that he bought 31 years ago. Various land-use restrictions, compounded by limits on loans, have made it difficult to find a buyer.
In a video released on the YouTube channel “GreeGura”’s “Kim Gu-ra’s Economic Research Institute” on the 23rd, Lee Kye-in discussed property issues surrounding his country house in Joan-myeon, Namyangju, Gyeonggi Province. He bought the land himself more than 30 years ago and has lived there ever since.
The cast, including Kim Gu-ra, asked why he chose Namyangju when he could have bought property in Seoul’s Yeouido, Yongsan District, or Gangnam District at the time.
Lee Kye-in said he prioritized the kind of living environment he wanted over real estate investment. “I’ve loved fishing ever since I was in my 20s. I used to catch fish in the stream in front of my house and dream of living somewhere like this in my later years,” he said. “After being pushed around and hurt by people, I chose this place because I wanted to live somewhere I truly loved.”
The land Lee Kye-in owns is about 400 pyeong. However, it is subject to overlapping designations as a water-source protection zone, a development-restricted area (greenbelt), and a natural green area, which limit development. The remaining roughly 300 pyeong, excluding the approximately 100 pyeong occupied by the house, remains classified as “field.” It cannot be regraded or converted to another use.
Land prices also differed from those in nearby areas. The site’s officially assessed land price averages around 1 million won per pyeong, with building land at about 2.79 million won and fields at about 660,000 won. Development restrictions kept the land’s value from rising significantly even during past real estate booms. By contrast, land prices around Yangsu-ri Station, about 1 km away, surged as businesses opened and buildings went up.
More recently, loan restrictions and the tax burden on owners of multiple homes have made it even harder to find a buyer. The explanation is that banks have reduced collateral appraisals and loan limits for detached houses and country homes in provincial areas, leaving no prospective buyers coming forward.
Lee Kye-in revealed that even if he sold all the land, it would be difficult to raise the deposit for a nearby apartment rental. “Even if I sell all this land now, it would be hard to get a jeonse lease on an apartment in nearby Deokso,” he said. On the drawbacks of country living, he said, “At night, wild boars or snakes sometimes appear in the yard, and it can be frightening enough that I have to carry a club around.”
Still, despite these inconveniences and the restrictions on the property’s value, Lee Kye-in intends to continue living in his current home.
Expressing his satisfaction with country life, Lee Kye-in said, “The everyday happiness of having natural gas and enjoying clean water and air is something I wouldn’t trade for anything.” He added of his home, “It’s a haven I wouldn’t sell even if I were offered 4 billion or 5 billion won.”


[email protected] Han Seung-gon Reporter