Actor Ryu Jin shared the painful story of his failed real estate investment.
On the 10th, a video titled "Epic Real Estate Investment Failure!!! Ryu Jin Couple Considering Moving (700 million won, Cheongna House Price, Songdo Move)" was uploaded on the 'Most Wonderful Ryu Jin' channel.
On that day, Ryu Jin was walking in the neighborhood and explained, "They are doing some construction under this waterfront, and Line 7 is passing through. I don't know how far or how it's connected, but I'm confused because there's also a waterway here. If we move in here, there are a lot of APT.s attached to this line, so it becomes a transportation hub. House prices will go up. We should sell it right away."
The production team asked, "But why are you moving?" Ryu Jin replied, "They said we have to move… because it's not our house."
In response to the question, "Hasn't the Cheongna house price gone up a lot?" Ryu Jin stated, "These days, the market price suddenly surged and then dropped significantly." He added, "In my opinion, the key to house prices is more about schools rather than transportation hubs. That seems to matter more. I lived in Sangam-dong for 7 years after getting married, and the outlook was fantastic. I moved in 2007. Back then, they were saying landmarks and GTX would come, and it was a great park and livable place, so I invested looking at the future. It briefly went up, then slowed down…" recalling his experience of investment failure.
He continued, "On one side of the river is Sangam-dong and on the other side is Mok-dong, isn't it? That side is much more expensive. Mok-dong has formed a lot of school districts because of the children's academies and such. Sangam-dong is not falling behind as a city, but that side is pricier." The production team responded, "You seem to know quite well…" Ryu Jin said, "Why did I invest there? Well…" with a bittersweet expression.
Ryu Jin said, "It seems that women have better instincts in real estate. The first place my father established himself when he worked was Hwagok-dong. After living there, he moved to the Jamsil Complex 1 APT. where they built large apartments and sold it. Back then, they had to draw lots to get the sale rights. It was likened to picking stars from the sky, but my mother got it. It was a divine hand. So I made my entrance into a 13-pyeong (about 42.8 square meters) APT. in Jamsil for the first time. That's when my second hometown life in Jamsil began."
He stated, "The Jamsil Complex 5 is a 15-story building that had an elevator. When I lived in the 13-pyeong APT., that was a dream for me. Buying that house. But that was my mother again. My father said, 'There's no money; that's for the rich,' but my mother took out a loan of 30 million won to somehow get in there. I lived there until I moved to Hwajeong-dong in Ilsan in 2000. In a way, it's my hometown. I thought that was the center of the world."
Especially, Ryu Jin noted, "I had a bit of a bad mindset. Thinking, 'That house will eventually be mine.' But one day, suddenly they said, 'We will sign the contract tomorrow,' and sold it like that. But the next day after selling, the height restriction in Jamsil was lifted. From the next day, house prices began to rise there. Now it's going over 3 billion won..." This recalled the disappointment of missing out on 3 billion won.
When asked, "Is the move this time a purchase or a lease?" he replied, "I'm always in a hurry. Suddenly. Even when moving from Sangam to Banpo Seorae Village, I grabbed a sudden sale, and when going from Banpo to Songdo, I also went for the one that came out closest to the school for the kids. When coming from Songdo to here, there was another plan in the middle. The kids were planning to study abroad. There was another school to prepare for here, so we rushed to come. It was supposed to be a place to live for just a year. But plans changed, and Chang-hyung went back to his original school in Songdo. And Chang-ho stays in the school he moved to. So we have to move this summer, but I'm thinking of moving within Cheongna."
The production team suggested, "How about a taste test tour of real estate?" Ryu Jin replied, "Honestly, when I go to places like real estate, there are prices posted outside. I've hardly ever gone in to do it myself. I've always found it a bit scary being around the people in real estate," confessing the trauma from his investment failure.
Later, while discussing house price trends with a real estate agent, Ryu Jin revealed, "At the end of 2006, I bought my newlywed home in Sangam World Cup Park Complex 4 for nearly 700 million won. After holding it for almost 10 years, the price when I sold it later was 750 million won. To be honest, it's a complete failure in terms of wealth management."
The real estate agent stated, "Currently, the lower end is 1.55 billion won, and the upper end is 1.8 billion won. After selling in 2014, it has continued to rise." Coincidentally, Ryu Jin's house prices gradually rose right after he sold it. Ryu Jin lamented, "I held it for 10 years. Lived for 7 years. I just don't get along with this kind of fate. My father is the same way."
During this, the production team asked, "How do you know when to sell?" The real estate agent responded, "Interest rates are important." At that moment, Ryu Jin quipped, "It's when you need money that you know when to sell," bringing laughter.
[Photo] Most Wonderful Ryu Jin
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