Sensible Home Tech is the 'Trend'... New and Old Generations Benefit as New Officetel Supply Scarcity Increases

- On the 29th of last month, the Ministry of Land, Infrastructure and Transport announced the finalization of the 4th National Railroad Network Construction Plan, including the 'Singuro Line' project
- 'Guro Yemiji Urban Core' gaining popularity amid transportation benefits

There is an unchanging principle in the real estate market: transportation benefits. Each stage of a transportation development project?from the announcement of plans to the start of construction and the opening?tends to increase housing prices, making such projects major positive factors in the real estate market.

In particular, new sections of the Seoul subway lines attract significant market attention. This is because they facilitate commuting to major business districts in Seoul, creating a high premium.

The most representative example is the ‘Singuro Line.’ The Singuro Line is a planned route connecting Siheung in Gyeonggi Province to Mokdong in Seoul, linking Siheung Daeya Station to Okgil Station, Hangdong Station, Onsu Station, Gung-dong, Gaebong, Gocheok, Yangcheon-gu Office, and finally Seoul’s Mokdong. Among these, Guro-gu is reaping substantial benefits from the Singuro Line. Its proximity to major business districts like Yeongdeungpo and Yeouido creates a synergy effect of living close to work.

A real estate official stated, “Areas with improved transportation networks not only see increased demand for nearby housing and rising prices but also experience commercial development and enhanced living convenience due to population inflow. Properties with upcoming transportation benefits often sell out quickly amid fierce competition, so paying early attention to beneficiary areas is a forward-looking investment strategy.”

As transportation benefits from the Singuro Line project are anticipated, new housing supply in beneficiary areas is attracting considerable interest.

The ‘Guro YemiJi Urban Core,’ which began sales in June, is also drawing high attention amid growing expectations for local benefits. This officetel will be constructed in the Guro-gu area of Seoul, consisting of one building with 188 units spanning from three basement floors to 20 floors above ground.

It is located just a 7-minute walk from Oryu-dong Station on Subway Line 1, satisfying the conditions of a station-area complex. Not only does it offer convenient transportation, but it is also surrounded by premium living infrastructure, making it highly preferred for actual residence.

The surrounding area offers diverse living infrastructure including shopping, medical, cultural, and administrative facilities. Nearby are public offices, hospitals, and large marts, as well as Gocheok Dome Stadium, Costco (planned), Kim’s Club (Guro branch), and Guro Seongsim Hospital. Adjacent green spaces such as Gaebong Neighborhood Park and Gaewoongsan Park provide ample recreational opportunities.

Additionally, the area where the officetel is being built has long suffered from a shortage of 2-room and 3-room units. Therefore, it is expected to absorb significant rental demand from office workers and newlyweds. Oryu-dong is one of the areas with strong office worker demand, thanks to its rich transportation network connecting to major Seoul business districts like Yeongdeungpo and Yeouido, as well as Gwangmyeong City in Gyeonggi Province. Yeouido can be reached within 30 minutes. It is also convenient for car users, with easy access to the Nambu Beltway and Olympic Expressway via the Oryu IC in front of the complex.

Guro YemiJi Urban Core is planned as residential units with exclusive areas ranging from 40 to 70 square meters, arranged mainly facing south for a pleasant layout. The units consist of 2 to 3 rooms, offering various floor plans suitable for singles to family households, allowing residents to choose according to their lifestyle. The sales conditions also minimize initial costs for buyers, including contract deposit loans and interest-free interim payments, attracting much interest from newlyweds hoping to purchase a home as well as investors.

A sales official said, “Guro-gu is emerging as one of the beneficiary areas of the Singuro Line. Since this project is located in an optimal transportation position with convenient infrastructure, it is highly preferred not only by actual homebuyers but also by investors, and we are receiving many inquiries.”