74-year-old Park Jeong-soo says, "Rent income from the Apgujeong 23 billion won building... he is a filial son" [Star Issue]

*This content was translated by AI.

Actor Park Jeong-soo revealed that after purchasing his first home without taking out a loan, he now lives off the rental income from a small building.

On the 23rd, Park Jeong-soo shared a video titled "You want me to sell a 20 billion won building?! Shocking real estate solutions by a real estate doctor" on his YouTube channel, where he discussed real estate investment with Seo Dong-gi, known as South Korea's first real estate doctor.

That day, Park Jeong-soo said, "I have one house I live in and a small building. I live off the rental income from it; that building is like a filial son."

Additionally, regarding his primary residence in Seocho-gu, Seoul, Park Jeong-soo remarked, "When acquiring the home, I prioritized a comfortable living environment over market gains or price appreciation. The area is quiet and close to Umyeonsan Mountain, making it truly pleasant to live in, yet property prices have remained stagnant, exactly as they were before," he said with a smile.

In response, Seo Dong-gi (Dr.) advised, "For homes purchased for primary residence purposes, there is no need to be overly concerned with market fluctuations. A Gangnam 5 billion won apartment could incur inheritance taxes of approximately 2.5 billion won alone." He further explained, "Once the appraised value exceeds 3 billion won, inheritance tax rates can reach as high as 50%."

Meanwhile, Park Jeong-soo recently disclosed a building he owns located in Sinsa-dong, Gangnam-gu, Seoul. He purchased the building in the Apgujeong Rodeo Street area of Gangnam-gu, Seoul, in 2005 and completed its redevelopment in 2012. The real estate industry estimates the current market value of the property at around 23 billion won.

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*This content was translated by AI.