Half-Price Apartments 'Songpa Laboro' Supplied in the Heart of Songpa

Housing Market Focused on Actual Buyers, Multi-Transportation Zones Popular! High House Prices and Hot Demand in the Sale Market
'Songpa Laboro' Attracts Attention with Proximity to Subway, Schools, and Parks

As the housing market is reshaped to focus on actual demand due to strong regulatory tightening, apartments located in multiple-access areas with transportation, education, nature, and convenience facilities are gaining popularity.

The more diverse the combined location factors, the higher the satisfaction for residents, and based on strong preference, demand remains solid, resulting in excellent liquidity. Additionally, such areas have high potential to develop into leading complexes that drive local housing prices.

Accordingly, multi-access complexes attract high popularity even at the pre-sale stage. On the 10th, ‘Daechi Prugio Summit,’ launched in Daechi-dong, Gangnam-gu, Seoul, recorded a competition rate of 168 to 1, with 17,820 applicants for 106 units in the first priority subscription. This complex is located in the heart of Gangnam, Seoul, and is especially popular due to its proximity to prestigious schools such as Daehyeon Elementary, Daemyeong Middle, and Whimoon Middle, as well as large cultural facilities like department stores and the Trade Center, and natural environments including Tancheon and Yangjaecheon streams.

An industry expert said, “During times of economic downturn and market instability like recently, demand tends to concentrate on products with high stability. Especially, complexes with high residential satisfaction are advantageous in securing demand, so the popularity of multi-access complexes is expected to increase further as their stability is guaranteed.”

Among these, ‘Songpa Laboro,’ supplied in Songpa-gu, Seoul, is gaining high attention as a multi-access complex that evenly offers transportation, education, convenience facilities, and parks?elements desired by demanders.

‘Songpa Laboro’ is located in Songpa-dong, Songpa-gu, Seoul, and is planned to consist of a total of 546 households with exclusive areas ranging from 41 to 84㎡.

First, it boasts a convenient transportation environment. The complex is within walking distance of Songpa Station on Subway Line 8 and Seokchon Station, a double station area served by Lines 8 and 9, making commuting easy. Within 1 km of the complex are Bangi Station on Line 5 and Ogeum Station on Lines 3 and 5, as well as Jamsil Station, Songpanaru Station, Garak Market Station, and Police Hospital Station. Access to the entire metropolitan area is easy via Songpa-daero, Olympic-daero, and Gangbyeonbuk-ro.

The prestigious school district, attracting the core demand group of people in their 30s and 40s who have recently emerged as key housing market consumers, is also noteworthy. Various prestigious schools such as Jungdae Elementary School, Garak Middle School, Ilsin Girls’ Commercial High School, Jamsil Girls’ High School, and Garak High School are located within about a 5-minute walk from the complex.

Various living infrastructures are well established. Residents can conveniently enjoy facilities such as Lotte Mart, Lotte World, movie theaters, Garak Market, as well as public offices including Songpa Fire Station, Songpa Police Station, Songpa 2-dong Community Center, and various convenience facilities such as Gangnam Himchan Hospital, Asan Hospital, and banks. The complex is located near Seokchon Lake, Songi Park, and Olympic Park, providing a pleasant residential environment as a park-access complex.

The complex offers a reasonable price compared to nearby areas, reducing the burden on demanders. As a local housing association apartment, the land is directly purchased and developed by the association members, making it cheaper than general sale apartments.

In fact, the asking price for the 41㎡ exclusive area unit of ‘Songpa Laboro’ is in the 500 million KRW range, which is even cheaper than the monthly rent of a 49㎡ exclusive area unit in nearby Songpa Heliocity. According to the Ministry of Land, Infrastructure and Transport’s actual transaction prices for monthly rent, the 49㎡ exclusive unit in Songpa Heliocity was leased for 820 million KRW in June. Notably, this apartment was sold for 1.37 billion KRW (49㎡ exclusive, as of June).

It is also competitive compared to ‘Songpa Samsung Raemian,’ located right in front of the complex. The sale price of an 87㎡ exclusive unit in Songpa Samsung Raemian was traded at 1.45 billion KRW last month, about 400 million KRW more expensive than ‘Songpa Laboro.’

‘Songpa Laboro,’ as a local housing association apartment, is supplied at a reasonable price while ensuring project stability through trust company fund management.

A sales official of ‘Songpa Laboro’ said, “Songpa-gu is a highly preferred residential area in the Gangnam area of Seoul, where the city and nature harmonize well. Especially, ‘Songpa Laboro’ is a multi-access complex ideal for enjoying each infrastructure, supplied at a reasonable price compared to its excellent location, receiving high response. The first phase of association member recruitment was completed in a short period, and the second phase is also expected to close quickly.”

Meanwhile, ‘Songpa Laboro’ is currently recruiting second-phase association members on a first-come, first-served basis without requiring a subscription savings account. The housing promotion center is located at 391-8, Pungnap-dong, Songpa-gu, Seoul.