How Much Is G-Dragon’s $6.5M “March Rabbit” Building Worth Now?
A News1 exclusive reported on how much G-Dragon‘s “March Rabbit” building must be worth now, in 2024.
In November 2017, the BIGBANG member purchased the luxurious glass building for ₩8.85 billion KRW (about $6.52 million USD).
According to Building Road Real Estate Brokerage, the building was purchased under his name with a loan principal of ₩3.00 billion KRW (about $2.21 million USD), meaning that the purchase was made with ₩5.85 billion KRW (about $4.31 million USD) in cash.
The building, named “March Rabbit” in reference to the White Rabbit character in Alice In Wonderland, has received architectural awards from the Gangnam District Office and has also been featured by international media as one of the world’s most beautiful buildings.
So how much is it worth now?
Recent estimates suggest that the building has appreciated by at least ₩8.00 billion KRW (about $5.90 million USD). There have been several transactions in the area at prices ranging from ₩180 million KRW (about $133,000 USD) to ₩250 million KRW (about $184,000 USD) per pyeong (a Korean unit of area and floorspace).
Building Road Real Estate Brokerage’s Kim Kyung Hyun explained, “Even if we conservatively calculate at ₩180 million KRW (about $133,000 USD) per pyeong, multiplying this by G-Dragon’s property size of 96 pyeong gives a value of ₩17.3 billion KRW (about $12.8 million USD). This means that a capital gain of over ₩8.40 billion KRW (about $6.19 million USD) can be anticipated from his seven years of ownership.”
That’s double what it was worth in 2017 at the time of purchase. What a win!
