Revenue-Generating Real Estate Free from Regulations, Attracting Continuous Interest and Inquiries from Investors
Ubistar City, attracting attention as Yeouido's first lifestyle accommodation facility, has opened its promotional center and officially started sales. Ubistar City is established by remodeling Hotel The Designers Yeouido at 24, Gukhoe-daero 68-gil, Yeongdeungpo-gu, Seoul, and consists of a total of 152 units, including 150 rooms ranging from 22㎡ to 66㎡ and 2 commercial units, with 3 basement floors and 13 above-ground floors.
Ubistar City has been regarded as a highly valuable real estate investment even before consultation reservations began. Its merit lies particularly in being a lifestyle accommodation facility. Lifestyle accommodation facilities combine the advantages of officetels and hotels, offering residential spaces that are free from restrictions such as resale limitations, owning two homes per household, subscription savings accounts, and loan regulations. They allow rental business and lodging registration, individual registration, and are exempt from comprehensive real estate tax. These benefits make them free from various government regulations and attractive as new investment destinations. The unique advantages of lifestyle accommodation facilities are reflected in their strong sales momentum; for example, Hillstate Songdo Stay Edition, sold in August this year, recorded an average competition rate of 107:1, and Pyeongchon Prugio Central achieved an impressive average competition rate of 121:1.
Moreover, Ubistar City in Yeouido adds the advantage of being the first of its kind in Yeouido, leading to a very bright outlook. It is considered highly valuable as an investment because it preempts the market and demand from about 8,000 companies and 300,000 people in the area, ahead of other lifestyle accommodation facility plans underway in the Yeouido district. By securing tenants from workers related to the National Assembly, finance, broadcasting, and large corporations in advance, stable returns for investors are expected. It is anticipated that investors with discerning eyes will prefer this project due to its clear differentiation and first-mover premium compared to the rapidly emerging officetels and commercial properties.
Ubistar City in Yeouido is located at the center of Yeouido’s business district, where public institutions such as the National Assembly, KBS, and the Korea Federation of SMEs, as well as bank headquarters like KDB Industrial Bank and Korea Eximbank, are situated, highlighting its top-tier location value in Yeouido. From a transportation perspective, it is about a 3-minute walk from National Assembly Station on Line 9, making it a prime subway station area. Additionally, it offers convenient access to downtown, Gangnam, and the airport via Gukhoe-daero, Yeouido-daero, Olympic-daero, Mapo Bridge, Seogang Bridge, and Wonhyo Bridge.
There are also many development benefits, enhancing its future value. Yeouido is being intensively developed as an international financial hub through a master development plan, and projects such as the Sinansan Line double-track railway, the metropolitan area express railway GTX-B line, and the Western light rail are expected to act as triggers for the area's growth.
The excellent natural environment is another attractive feature. Residents can enjoy Yeouido Park nearby and a well-being lifestyle at Hangang Park within walking distance, which is expected to help attract tenants.
The high-quality design is also a notable element. It is tailored for 1-2 person households, featuring hotel-level interiors and fully furnished units. Equipped with community lounges, individual storage rooms, rooftop gardens, and commercial facilities, it offers a vibrant and relaxed lifestyle, mainly composed of small-sized units. Considering its location and facilities, the pricing is reasonable, drawing attention from those considering investment in income-generating real estate.
A real estate expert commented, “It can be flexibly operated as a long-term rental or lodging facility after investment, making it an excellent investment destination for discerning investors aiming for dual benefits,” and added, “Value appreciation due to future development is also expected, so investment preference will be high.”
A sales official stated, “Since the entry barrier for buyers is not high, it is expected to be popular, and as a real estate free from various government regulations, it attracts interest from wise investors,” and added, “With attractive and competitive features such as resale availability and no restrictions on owning two homes per household, it not only has high sales potential but is also drawing greater attention following the opening of the promotional center.”
The promotional center operates at 24, Gukhoe-daero 68-gil, Yeongdeungpo-gu, and visits are possible by prior reservation due to COVID-19.
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