Regulatory 'Reflex Benefit' for Geoyeoyeok Regional Housing Association Apartment Ian Songpa East Plus

Since the real estate measures on December 16, the overall apartment prices in Seoul appear to be stabilizing, but in some areas, prices are hitting record highs, continuing an upward trend in the metropolitan area.

Amid ongoing instability in housing prices, regional housing association apartments that offer both price advantages and locational benefits are gaining attention.

‘Ian Songpa East Plus’ near Geoyeo Station, sharing the Jamsil living area, has attracted attention as many visitors to its recently opened showroom have quickly become actual association members, resulting in a faster-than-expected sales pace.

Located in Geoyeo-dong, Songpa-gu, Ian Songpa East Plus offers the lifestyle benefits of both Jamsil and Songpa in a central Seoul location, yet is relatively affordable at around 17 million KRW per pyeong. For a 59㎡ unit, ownership is accessible at around 400 million KRW, which is even lower than the nearby apartment rental prices. The complex consists of 393 households in a building ranging from basement level 2 to 35 floors above ground, featuring small to medium-sized units between 45㎡ and 84㎡, which are actively traded.

In addition to its price advantage, it is gaining a reputation as a premium apartment that meets all the desirable living conditions: proximity to subway stations, forests, schools, and shopping malls.

It is an ultra-station area just a one-minute walk from Geoyeo Station on Subway Line 5 and two stops from Ogeum Station on Line 3. It is adjacent to Songpa IC and Seo Hanam IC on the Seoul Ring Expressway, allowing quick access not only to Seoul but also to major cities in the metropolitan area.

To the east lies Cheonmasan Neighborhood Park, and to the south is Namhansanseong Fortress. Nearby parks include Geoyeo Park, Ogeum Park, and Olympic Park, making it ideal for enjoying a healing urban lifestyle without traveling far.

Ian Songpa East Plus is suitable for young couples with children or newlyweds, as elementary, middle, and high schools are within walking distance. Yeongpung Elementary School is right in front of the complex, and other prestigious schools such as Boin Middle and High School, Ojung Middle School, Songpa Middle School, Ogeum High School, and Munjeong High School provide excellent educational infrastructure.

Major commercial facilities such as Lotte Tower, Lotte World, Garden Five, Nonghyup Hanaro Mart, Garak Agricultural and Marine Products Market, Southeast Distribution Center, Eastern Legal Complex, and the planned Severance Hospital are concentrated around Songpa and Jamsil.

The properties themselves are also highly regarded. Featuring innovative 4Bay floor plans and predominantly south-facing designs, they offer excellent openness and natural lighting, with sufficient spacing between buildings to minimize privacy concerns. Various community facilities will be established to enhance resident satisfaction.

A representative from the showroom stated, “The conditions for joining the association are not as stringent as those for winning a subscription lottery. If you want to own a home in Seoul at a reasonable price, you should take a close look at Ian Songpa East Plus.”

The Ian Songpa East Plus showroom is located in Bangi-dong, Songpa-gu, next to Seokchon Lake.