Hillstate Sindorim Station Central Enjoying Double Station Area Premium

Proximity to a subway station has traditionally been a trusted popular factor in the officetel sales market. Residents of complexes close to stations enjoy convenient commuting and school travel, easy mobility, and access to commercial districts developed around the station. As a result, complexes with subway station proximity tend to establish themselves as steady sellers, maintaining high premiums not only immediately after sales but also after move-in.

Recently, double subway station proximity has gained popularity, especially in the Seoul metropolitan area. This has become possible as the transportation network has become denser with not only existing subway lines but also KTX, the Greater Seoul Metropolitan Express Railroad (GTX), and various subway extensions. Complexes where residents can access more than one station near their home are highly popular in the real estate market, commanding higher premiums accordingly.

According to KB Real Estate prices, the average sale price of a 77㎡ unit at the officetel ‘Raemian Yongsan The Central’ in Yongsan-gu, Seoul (moved in 2017) rose from 920 million KRW in January this year to 1.08 billion KRW in October, an increase of 160 million KRW. This officetel allows access to both SinYongsan Station on Subway Line 4 and Yongsan Station, a transfer station for Line 1 and the Gyeongui-Jungang Line. After move-in, the double subway station proximity became more visible, driving prices up sharply.

Officetels with double subway station proximity and upcoming GTX openings are also popular. The average sale price of an 84㎡ unit at ‘Ilsan DM City Skyview’ in Goyang-si, Gyeonggi Province (moved in 2020) increased from 575 million KRW in April to 680 million KRW in October, forming a premium of over 100 million KRW. This complex is within walking distance of Daehwa Station on Subway Line 3 and the planned GTX Kintex Station.

The transportation network in the metropolitan area is expected to continue developing. The government announced last year through the Metropolitan Transportation 2030 project that it plans to invest 97.3386 trillion KRW in the metropolitan area. As the transportation network becomes increasingly dense, the range of mobility using existing subway stations is also expected to expand.

An industry insider said, “As real estate regulations continue in the metropolitan area, buyers are increasingly discerning,” adding, “Therefore, in the metropolitan area where transportation benefits continue, complexes with double subway station proximity are emerging as important factors in sales, regardless of whether they are apartments or officetels.”

As the year-end approaches, a new officetel with double subway station proximity in the metropolitan area is drawing attention ahead of its sale.

Hyundai Engineering will sell the residential officetel ‘Hillstate Sindorim Station Central’ in the Sindorim-dong area of Guro-gu, Seoul, in December. It consists of one building with six basement floors and 20 above-ground floors, totaling 463 units ranging from 18 to 29㎡. The first to third floors are commercial facilities, and the fourth to twentieth floors are officetels.

Hillstate Sindorim Station Central offers comprehensive living infrastructure including transportation, convenience, culture, and business. It is a double subway station proximity complex within walking distance of Sindorim Station, a transfer station for Subway Lines 1 and 2, and Guro Station on Line 1, allowing quick access to business districts such as Yeouido, Gangnam, Gwanghwamun, and G-Valley (Seoul Digital Industrial Complex). Additionally, more than 20 bus routes including local, trunk, and metropolitan lines pass by the bus stop in front of the complex, facilitating public transportation use.

Notably, Sindorim Station is scheduled to be served by the GTX-B line. Once the GTX-B line opens, it will take only three stops to Seoul Station and four stops to Incheon Songdo, enabling fast travel to Seoul and the metropolitan area and bringing expected benefits from improved transportation conditions.

The complex is also surrounded by abundant convenience facilities. The commercial facility ‘Hills Avenue Sindorim Station Central’ spanning floors 1 to 3 will be supplied within the complex. Within walking distance are large retail and cultural facilities such as Hyundai Department Store, E-Mart, Homeplus, NC Shin Guro Branch, CGV, and Lotte Cinema, enabling convenient living. Furthermore, about 2 km away near Yeongdeungpo Station, there are abundant convenience facilities including Lotte Department Store, Shinsegae Department Store, and Times Square.

Meanwhile, the commercial facility ‘Hills Avenue Sindorim Station Central’ within the complex will also be sold simultaneously. This facility, spanning floors 1 to 3, benefits from the abundant foot traffic of nearby Sindorim and Guro stations and has a strong demand base with about 20,000 households within a 1 km radius.

Additionally, the commercial facility is located at a corner of a major road intersection, offering excellent visibility and accessibility. Unlike commercial facilities within typical apartment complexes, it has a wide range of tenant types and secures demand from young consumers in their 20s and 30s with high purchasing power, which is expected to increase sales.