Near GTX Bupyeong Station, the Rare ‘ePyeonhansesang City Bupyeong Station’

This year, as the supply of officetel units has sharply decreased, demand for new complexes is rising. With the reduction in supply increasing the rarity value of new complexes, the officetel market is showing signs of recovery, with the officetel price index rising to its highest level in about three years.

According to data from Real Estate 114, the number of officetel units sold or scheduled for sale nationwide this year is tentatively estimated at 25,310 units. Nationwide officetel supply, which was under 10,000 units from 2006 to 2009, exceeded 10,000 units in 2010 (14,763 units) and gradually increased to 97,455 units in 2017. However, after decreasing to 80,662 units in 2018, the supply continued to decline for four consecutive years with 52,984 units in 2019 and 42,703 units in 2020.

Among these, the decline in officetel supply in Incheon stands out. As of March this year, the number of officetel units sold or scheduled for sale in Incheon was 4,622 units, a 19.53% decrease compared to 5,744 units in 2020. In particular, the supply of small officetel units sharply dropped by 100% for units under 20㎡ and by 81.22% for units between 21㎡ and 40㎡.

Industry experts expect the popularity of new officetels to increase as supply sharply decreases. This is attributed to the government's real estate regulations focused on apartments and the ultra-low interest rate environment, which are expected to increase demand for officetels, while the reduced supply raises their scarcity.

In this situation, officetel prices are also on the rise. According to data from the Korea Real Estate Board, the nationwide officetel sales price index in February this year rose by 0.08 points compared to the previous month (January 2021). This is the largest increase since May 2018, when it rose by 0.11 points.

Meanwhile, a new officetel is being supplied in a prime location in Bupyeong-gu, Incheon, attracting attention. DL Construction Co., Ltd. and Daelim Corporation are currently selling ‘e-Pyeonhansesang City Bupyeong Station’ in the Bupyeong-gu area of 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 exclusive area, 156 office units on the 2nd and 3rd floors, and 18 neighborhood living facilities on the 1st floor. It is the largest branded officetel in Bupyeong and includes section offices, currently enjoying strong sales.

This complex is a triple-station area within walking distance of Bupyeong Station, a transfer station for Seoul Subway Line 1, Incheon Metro Line 1, and the planned GTX-B line. Located near the large commercial district around Bupyeong Station, residents can conveniently access shopping and convenience facilities such as Lotte Mart, Bupyeong Station underground shopping mall, 2001 Outlet, and Moda Department Store.

The officetel units are fully furnished with washing machines, refrigerators, and system air conditioners in each household. Even the small-sized units of 23㎡ include built-in wardrobes with pull-out laundry drying racks, providing ample storage space. The complex applies cutting-edge IoT and solar power systems for a convenient living environment and energy savings, and also features a fitness center for healthy leisure activities within the complex.

The offices being sold together maximize workspace utilization by providing exclusive balcony service areas for section offices. They come standard with heating and cooling systems, ventilation systems (heat exchange), and digital door locks for a comfortable working environment. Additionally, car-sharing services using a shared vehicle system in the parking lot, rental management services that handle vacancies and complaints on behalf of landlords, and concierge services that process residents’ requests through an agency will be provided.

Furthermore, since it is not subject to regulations, resale of pre-sale rights is possible, and benefits such as a 10% down payment and full interest-free installment payments are offered. The sales exhibition hall for e-Pyeonhansesang City Bupyeong Station is located in the Bucheon area of Gyeonggi Province.