Soaring Prices of Office-tels in the Seoul Metropolitan Area, Should We Secure 'Golden Gate Pangyo' in Seongnam Godeung District Before It's Too Late?

As the trend of nuclear families accelerates with the rise of 'single-person households,' the popularity of 'officetels,' which effectively serve as alternatives to 'apartments,' continues unabated. In particular, officetel prices have shown an upward trend, especially in the metropolitan area.

According to the '2020 Q4 Officetel Price Trend Survey' released by the Korea Real Estate Board at the end of last year, officetel prices rose across sales, jeonse (long-term lease), and monthly rent, showing a triple increase. The driving force behind this rise was the metropolitan area, which saw increases of 0.10% in sales, 0.70% in jeonse, and 0.29% in monthly rent compared to the previous quarter. This contrasts with Seoul and other provinces, where the increases were minimal or only showed slight upward trends.

The rising apartment prices combined with improved transportation networks have shortened the commuting time to Seoul, allowing residents to enjoy the Seoul living area without inconvenience while benefiting from relatively affordable prices, thus increasing preference for officetels.

Typically, commuting from the metropolitan area to Seoul by public transportation takes over an hour, but in some areas, it takes less time than traveling within Seoul itself. 'Golden Gate Pangyo' boasts a locational premium in Pangyo, with access to Gangnam and Songpa within 10 minutes. Its excellent transportation conditions allow residents to enjoy the 'Gangnam living area.'

All of this is thanks to the excellent transportation infrastructure. The main access road to 'Golden Gate Pangyo,' Daewang Pangyo-ro, connects to Suseo Station, and six interchanges are located within 3 km of the complex, enabling entry and exit to the Gangnam area in about 15 minutes, showcasing fast access to Gangnam. Nearby highways include the Gyeongbu Expressway, Yongin-Seoul Expressway, 2nd Gyeongin Expressway, Metropolitan Area 1st Ring Expressway, Bundang Naegok Expressway, and Bundang Suseo Expressway.

Additionally, seven metropolitan buses and five city buses operate, allowing travel to the center of Pangyo within 10 minutes. The 'Seoul Subway Line 3 Extension Project,' which connects Seongnam High School District and Pangyo to Yongin and Suwon, also raises expectations. Moreover, 'Golden Gate Pangyo' officetel is expected to benefit from a station premium as a new station will be constructed due to the extension of Subway Line 3 nearby.

Industry insiders share similar views, stating that 'the transportation environment in Pangyo will further improve in the future.'

Furthermore, the fact that this officetel is the 'new supply' in the Seongnam Godeung Commercial District after three years draws attention. It is also the only officetel being supplied in this district.

Nearby, Pangyo Avenue France, Hyundai Department Store, and Lotte Mart are already established, creating a shopping paradise in the southern metropolitan area with excellent living convenience. It is also noteworthy that companies are focusing their attention on 'Pangyo Technovalley.'

Companies that have relocated their headquarters to Pangyo include well-known names such as Samsung Heavy Industries, Mando, Hankook Tire & Technology, and Jusung Engineering. Upcoming completions include HP R&D Hub, Bando Ivy Valley, and Hyundai Stella Foret.

As major domestic companies settle in Pangyo Technovalley, the resulting increase in worker movement is expected to boost rental demand. The estimated underlying rental demand is about 200,000 people.

'Golden Gate Pangyo' will be supplied at 608-1 and 2 Godeung-dong, Sujeong-gu, Seongnam-si, Gyeonggi-do, consisting of 114 residential officetel units and neighborhood living facilities, spanning from four basement floors to six above-ground floors. It features specialized floor plans favored by actual users, including 1.5-room and 2-room layouts, as well as the latest floor plans designed for single-person households.

Meanwhile, the 'Golden Gate Pangyo' officetel showroom operates by prior appointment only.