Actress Kim Tae Hee has finally sold her building located in Gangnam, after seven years. According to a public report from the real estate industry, Kim Tae Hee sold the building she had purchased previously in 2014.
Back then, she had purchased the building for ₩13.2 billion KRW ($11,831,084 USD). The building is located near Gangnam station, a prime spot for many businesses due to high human traffic at all times of the year. She sold it late march 2021 for ₩20.3 billion KRW ($18,194,774 USD), making a profit of ₩7.1 billion KRW ($6,363,689 USD).
It is said that after she made the purchase back then, she immediately leased the space out to a large-scale afterschool academy. She had also famously reduced rent in the building by 50% during the peak of the pandemic in 2020. It was predicted that she made ₩1 billion KRW ($896,298 USD) per year off rent, after substrating maintenance costs.
The move was a surprising one as the real estate market hit a slump with the pandemic ongoing.