Super Junior Kyuhyun sells property that once made him millions in Seoul. The K-pop star has put his famous guesthouse on the market after years of running a successful business. Super Junior Kyuhyun sells property because tourism dropped after the pandemic hit Korea hard.
Super Junior Kyuhyun Sells Property in Prime Seoul Location
Kyuhyun listed his building in Namsan-dong for a whopping 9.5 billion KRW. That’s about 7 million dollars! The Seoul guesthouse real estate sale includes the main building plus an extra lot behind it. Together, both properties cost 11.8 billion KRW, which equals 8.7 million dollars.
The Super Junior member bought these properties back in June 2014. He paid 9.6 billion KRW total for both buildings near Myeongdong Station. The main building has six floors above ground and one basement level. It covers 1,714 square meters of space. The smaller building next to it is only two stories tall and covers 70 square meters.
Banks helped Kyuhyun buy the properties with loans worth about 6 billion KRW. This means he borrowed around 5 billion KRW to make the purchase happen. Smart business people often use loans to buy expensive real estate like this.
Seoul Guesthouse Real Estate Success Story Begins
Kyuhyun turned the buildings into a guesthouse and café business. His family helped run everything while he focused on his music career. His parents and sister managed the day-to-day operations of the 60-room guesthouse.
During Korea’s tourism boom, millions of visitors came to Seoul every year. Myeongdong became super popular with tourists from all over the world. The Seoul guesthouse real estate business made incredible money during peak times. One three-day weekend brought in 17 million KRW just from room bookings!
People called Kyuhyun a real estate genius back then. His investment looked perfect because tourists loved staying in Myeongdong. The location near the subway station made everything convenient for guests. Many K-pop fans probably stayed there without knowing their favorite Super Junior member owned it.
Tourism Industry Changes Force Property Sale
Everything changed when COVID-19 hit the world in 2020. Tourism dropped dramatically as countries closed their borders. Seoul guesthouse real estate values fell because fewer people traveled anywhere. Many hotels and guesthouses struggled to survive during this difficult time.
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Tourist hotspots also shifted to different areas of Seoul. Myeongdong lost some of its popularity as newer districts became trendy. Young travelers started preferring other neighborhoods with different vibes and attractions.
Super Junior Kyuhyun sells property now because the business isn’t as profitable anymore. Running a guesthouse became much harder without steady tourist income. The smart move might be selling before property values drop even more.
Final Thoughts on Super Junior Kyuhyun Sells Property Decision
The Seoul guesthouse real estate market taught Kyuhyun important lessons about business. Sometimes even great investments need to end when circumstances change completely. His family probably worked really hard to make the guesthouse successful for many years.
Super Junior fans might feel sad seeing their favorite member sell this property. But Kyuhyun probably wants to focus more on his music and entertainment career now. What do you think about Kyuhyun’s decision to sell his guesthouse business?
