Golden Location Between Stations, Spotlight on Double Station Areas

A Conveniently Located Station Area Complex with Abundant Living Infrastructure... Leading to Excellent Subscription Performance

The status of ‘double station areas’ in the housing market is on the rise. This is because they offer not only convenient transportation but also access to the living infrastructure formed around the stations. Additionally, they accommodate a large floating population, providing a stable and solid demand base.

According to Korea Real Estate Agency’s Subscription Home, many subscription accounts have been attracted to recently launched double station area complexes. The ‘Ssangyong The Platinum Seoul Station’ officetel, which was launched in February this year in Jung-gu, Seoul, received 2,388 applications for 569 units, showing an average competition rate of 4.2 to 1. This complex is within walking distance of Seoul Station, which serves Seoul Subway Lines 1, 4, Gyeongui Line, Airport Railroad, and KTX, as well as Chungjeongno Station, a transfer station for Seoul Subway Lines 2 and 5. Nearby, residents can enjoy living infrastructure such as Lotte Mart, Shinsegae Department Store, and Seosomun History Park.

The industry is focusing on the high price appreciation rate as a key factor behind the popularity of double station areas. While preference continues to rise, these locations are scarce in terms of positioning. In fact, there is a difference in price increase between double station area complexes and those that are not.

According to KB Real Estate Market Prices, the ‘Yeouido The Sharp Island Park’ officetel (moved in April 2007) in Yeongdeungpo-gu, Seoul, with a net area of 75㎡, saw its sale price rise by about 155 million KRW over the past two years (June 2018 to June 2020). This complex is a double station area accessible on foot to Yeouido Station on Seoul Subway Lines 5 and 9, and National Assembly Station on Line 9.

An industry insider said, “Since ‘station areas’ have had significant influence in the housing market for a long time, complexes located in double station areas are attracting attention. Not only is there demand from office workers aiming to shorten commuting times, but the strong demand base in commercial districts is also drawing interest from investors.”

Currently, in terms of sales information, ‘Ahyeon Prugio Clacity’ is being sold in the Ahyeon-dong area of Mapo-gu, Seoul. It consists of one building from six basement floors to 18 above-ground floors, with a total of 239 households ranging from 30 to 45㎡ in net area. Of these, 234 households are for general sale, excluding 5 rental units. This complex is a double station area within walking distance of Aeogae Station on Subway Line 5 and Ahyeon Station on Line 2. Additionally, educational facilities such as Ahyeon Elementary and Ahyeon Middle School are accessible on foot right in front of the complex. Large retail facilities like Lotte Outlet and Lotte Mart are located within a 1.5 km radius.

Next, ‘e-Pyeonhansesang City Bupyeong Station’ is being sold in the Bupyeong-dong area of Bupyeong-gu, Incheon. This complex consists of three buildings from six basement floors to 20 above-ground floors, with 1,208 officetel units ranging from 23 to 41㎡ in net area, 156 office units on the 2nd and 3rd floors above ground, and 18 neighborhood living facilities on the 1st floor. It is within walking distance of Bupyeong Station, a transfer station for Seoul Subway Line 1, Incheon Metro Line 1, and the planned GTX-B line. Also, being near Bupyeong Station, residents can use shopping and convenience facilities such as Lotte Mart and Bupyeong Station underground shopping mall.

Furthermore, the ‘Seomyeon Lotte Castle Eluce’ officetel is scheduled to be sold in July in Bujeon-dong, Busanjin-gu, Busan. It will be developed with three buildings from five basement floors to a maximum of 49 above-ground floors, totaling 352 units ranging from 29 to 50㎡ in net area. This complex is a double station area within walking distance of Buam Station on Busan Metro Line 2 and Seomyeon Station, a transfer station for Lines 1 and 2. Additionally, Lotte Department Store, CGV, and Seomyeon Market are located nearby.