Steady Seller in the Sale Market 'Yeoksekwon', Summit Park Near Exit 5 of Yangjae Station Draws Attention

- Located in front of Exit 5, Yangjae Station on Subway Line 3 and Shinbundang Line, GTX-C Line planned
- Perfect location near Maljukgeori Park, Seocho-gu Office, Seoul Arts Center, Lotte Department Store, etc.

As the government introduces a series of high-intensity measures to curb apartment prices, causing the real estate market atmosphere to cool down, officetels that can serve as alternatives are gaining attention.

Among these, officetels located at transfer stations where two or more subway lines intersect, or within walking distance of a station, are highly popular among both consumers and investors. Station-area complexes allow for quick travel to other regions, making commuting easy and freeing residents from traffic congestion, enabling them to move on time.

Additionally, these areas have abundant foot traffic, well-developed commercial districts, and various convenient facilities, allowing for a comfortable lifestyle. Above all, they significantly enhance the quality of life for modern people who prioritize work-life balance.

A real estate industry official said, “Station-area complexes offer excellent residential convenience, resulting in high rental yields, and because demand continues steadily, they are rare products suitable for both living and investment,” adding, “While being near a station does not absolutely determine market prices, in most cases, station-area complexes enjoy relatively high popularity and form higher prices.”

As station-area complexes are considered ‘steady sellers’ in the sales market, the ‘Summit Park’ officetel, supplied in the Yangjae-dong area of Seocho-gu, Seoul, is attracting much attention for having a ‘double station area’ advantage.

The complex is located right in front of Exit 5 of Yangjae Station, a double station area served by Subway Line 3 and the Shinbundang Line, allowing direct access without transfers to Gangnam Station, Gyodae Station, Nambu Terminal Station, and Pangyo Station, which has abundant workplace demand.

Moreover, the GTX-C Line (Yangju~Suwon) is planned, and once the train opens, residents will enjoy a ‘triple station area,’ which is expected to bring a high premium. Gangnam-daero and the Gyeongbu Expressway are also nearby, enabling easy vehicle access to downtown Seoul and the Gyeonggi area.

Located in the core of Gangnam and Seocho, ‘Summit Park’ boasts abundant infrastructure. Maljukgeori Park is right across the complex, and nearby are Maebongsan Mountain, Yangjaecheon Neighborhood Park, and Yangjae Citizen’s Forest, offering opportunities for hobbies, leisure, and exercise.

Additionally, Seocho-gu Office, Seocho Health Center, Seoul Administrative Court, the Seoul Arts Center, Instrument Street, Yangjae Library, Seocho Library (scheduled for 2020), and Bangbae Forest Library (scheduled for 2021) are nearby. Lotte Department Store (Gangnam branch), CGV (Gangnam branch), Megabox (Gangnam branch), various hospitals, and restaurants are also close by, providing convenient living conditions.

Strong underlying demand is also expected. Large-scale companies and various businesses are located along Gangnam-daero and Nambu Sunhwan-ro, and prestigious academies are situated in Daechi, Dogok, and Yangjae, ensuring abundant rental demand both in the short and long term.

Meanwhile, ‘Summit Park’ is expected to attract high interest from single-person households, university students, those living alone, people moving from aging officetels to new ones, and investors. While recent government real estate regulations focus on apartments, officetels are free from subscription point systems and housing regulations such as price caps, thus expected to gain indirect benefits.

A sales official for Summit Park said, “Located in the ultra-station area of Yangjae Station, ‘Summit Park’ is in the core of Gangnam and Seocho, equipped with excellent infrastructure in terms of transportation, convenience, and residential environment,” adding, “Especially with the GTX development benefits and solid rental demand, it is already attracting much attention.”

The Summit Park model house will be set up at Exit 3 of Nonhyeon Station (539 Gangnam-daero, Seocho-gu), and sales are scheduled for March.