[Asia Economy Reporter Moon Jiwon] Amid the contraction of the housing transaction market due to the government's high-intensity regulations, buying demand is flowing into residential officetels in downtown Seoul. It is analyzed that officetels, which are relatively affordable and less regulated, are gaining attention as investment destinations.
According to the industry on the 11th, medium-sized officetels in downtown areas where business facilities are concentrated, as well as in sub-centers such as Gangnam and Yeouido, are maintaining high average sale prices, and recent subscription closings have been occurring one after another.
In fact, according to an analysis by the Commercial Information Research Institute, as of December last year, the average sale price of officetels over 40㎡ (exclusive area) was highest in the southeast area including the Gangnam 3 districts (Gangnam, Seocho, Songpa) at 586.68 million KRW, and in the downtown area including Mapo, Yongsan, Seongdong districts at 495.03 million KRW.
Newly supplied officetels also show a trend of demand concentrating in downtown and sub-center areas. According to an analysis by Real Estate 114, among the 12 officetels supplied in Seoul last year through the subscription site 'Apartmenttoyou', most officetels in downtown and sub-center areas such as Yeongdeungpo and Gwangjin districts succeeded in closing subscriptions, but 7 supply units in outer areas such as Gangseo and Gangbuk districts experienced undersubscription.
An industry official analyzed, "Officetels in Seoul's central business districts are rare income-generating products that can provide both rental income and capital gains," adding, "Considering the ongoing effects of real estate regulations, their popularity is expected to increase further." Unlike apartments, officetels are not related to subscription points and are free from government housing regulations such as the price ceiling system, which is also an advantage.
Accordingly, officetels supplied in these areas are already attracting attention. In Jung-gu, Seoul, Ssangyong Construction will supply 'Ssangyong The Platinum Seoul Station' this month. It will be built as one building from 7 basement floors to 22 above-ground floors, consisting of small to medium sizes ranging from 17 to 32㎡. The supply volume is 576 units, all designed as duplexes. It is located near Chungjeongno Station, a transfer station for subway lines 2 and 5, and is also close to Seoul Station. There are abundant favorable factors nearby, such as the Seoul Station North Station Area development and the Seosomun Building reconstruction.
Korea Asset Trust will supply the 'Summit Park' officetel near Yangjae Station in Seocho-gu, a transfer station for subway line 3 and the Shinbundang Line, next month. It consists of one building from 4 basement floors to 11 above-ground floors, with a total of 120 units ranging from 19 to 59㎡. Taesan Construction is currently supplying the 'Yeouido Poreidium' officetel at 107 Yeongdeungpo-dong 1-ga, Yeongdeungpo-gu. It is located between Yeongdeungpo Station and Singil Station on subway line 1. It consists of one building from 1 basement floor to 18 above-ground floors, with a total of 153 units ranging from 29 to 32㎡.
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