Apgujeong Apartment Bought by Dong Hyun "The Stun Gun" Kim for 10 Billion Won Plunges by 1.2 Billion Won Right After Purchase

[Financial News] A recent sale in the 8.8-billion-won range has been reported for an apartment in Apgujeong-dong, Gangnam-gu, Seoul, that drew attention after broadcaster and former mixed martial arts fighter Dong Hyun Kim was reported to have bought it for 10 billion won.
According to the Ministry of Land, Infrastructure and Transport's Real Transaction Price Disclosure System, units with the same exclusive floor area of 182 square meters as the Shinhyundai 12th apartment in Apgujeong-dong, Gangnam-gu, Seoul, which Dong Hyun Kim bought on September 23, sold for more than 11.2 billion won in July, but two units traded for 8.8 billion and 9.2 billion won last month, respectively.
Kim paid the remaining balance on the 21st of last month and completed registration of the transfer of ownership. He reportedly used "seller financing," borrowing about 5 billion won of the purchase price directly from the seller. A mortgage securing claims of up to a total of 6 billion won was registered against the property.

Earlier, Kim had voiced regret over missing the chance to buy a home while living in a large apartment in Banpo-dong, Seoul, under a semi-jeonse arrangement.
In June, he appeared on the YouTube channel "Unpleasantly Nosy Sister" and showed the apartment in Banpo where he was living at the time, which was in the 60-pyeong range.
Kim, who said he was living in a semi-jeonse rental rather than owning his home, said, "I moved from one semi-jeonse place to another. I'm working really hard, but you know how there's this housing-price train?"
That day, Lee Ji-hye mentioned that Kim had invested in Bitcoin after selling a luxury apartment in the past.
In response, Kim said, "I got off that train for a little while. I looked away briefly, and when I looked back, (home prices) had shot up," expressing regret over the sharp rise in real estate prices.

Meanwhile, Apgujeong District 2, which includes Shinhyundai 12th, has passed an integrated review for its urban improvement project, and plans are underway to rebuild it as a complex with up to 66 floors and 2,381 homes.

[email protected] An Gaeul Reporter