Demand Concentrates on Alternative Products like 'Yeouido Limitio 148' Amid Seoul Housing Supply Drought

- Increase in 1-2 Person Households in Seoul While Supply of Small Apartments Remains Insufficient
- Demand Concentrates on Small Residential Facilities Comparable to Apartments, Boosting Contract Rate of 'Yeouido Limiteo148'

As the apartment supply drought in Seoul continues along with the government's real estate regulations, buyers and investors have started turning their attention to alternative residential products such as ‘Yeouido Limitio148’.

While 1-2 person households are rapidly increasing in Seoul, the supply of small apartments is insufficient. According to data from Real Estate114, in the first quarter of this year, the number of units supplied in Seoul with an exclusive area of 60㎡ or less was only 175 units, accounting for about 12% of the total 1,469 units. As a result, small residential facilities that offer living conditions comparable to apartments are attracting the attention of buyers.

In fact, demand has recently surged for ‘Yeouido Limitio148,’ a high-end residential facility introduced by Bando Construction in the Yeongdeungpo district, leading to an increase in contract rates.

‘Yeouido Limitio148’ enjoys the location advantage of the Yeouido Business District (YBD) in Seoul and is gaining attention as a residential product that can replace small apartments in Seoul. It features Bando Construction’s differentiated identity, known especially for innovative design, combined with high-quality residential services and community facilities that captivate buyers.

‘Yeouido Limitio148’ is located in a transit-oriented area within walking distance of Singil Station, a transfer station for subway lines 1 and 5, and Yeongdeungpo Station on line 1. Using Singil Station, it takes only one stop to reach Yeouido Station, and Yeongdeungpo Station is set to be connected to the Sinansan Line double-track metropolitan railway. By car, residents can use Budnaruro Road right in front of the complex to cross the Seoul Bridge and enter Yeouido. Additionally, access to major downtown areas such as Gangnam, Gwanghwamun, Sangam DMC, and Magok District is convenient via Olympic-daero and Yeouidaero.

Within a 1km radius, various lifestyle convenience facilities are available, including E-Mart, Yeouido Park Center, Times Square, Shinsegae Department Store, Lotte Department Store, Yeongdeungpo Market, and Hangang Sacred Heart Hospital.

The residential environment is pleasant with abundant green spaces such as Jungmaru Park right in front of the complex, Yeongdeungpo Park, Yeouido Saetgang Park, and Yeouido Hangang Park. In the future, the Yeongdeungpo Rotary overpass is planned to be demolished and transformed into green space, which will further improve the view and residential environment.

Yeongdeungpo, where ‘Yeouido Limitio148’ is located, is emerging as a transportation hub and business concentration area in the western part of Seoul. In addition to transportation benefits such as the Sinansan Line (scheduled to open in 2024) and GTX-B Line (scheduled to open in 2028), future value is expected due to surrounding environment improvements and developments including Yeongdeungpo New Town, Yeongdeungpo downtown station area development, Daesun Flour regeneration project, and the construction of the 2nd Sejong Cultural Center.

Yeouido Limitio 148 plans to showcase Bando Construction’s differentiated identity by introducing high-end residential services and community facilities as a premium residential facility. On the rooftop, which offers a panoramic view of Yeouido, there will be a ‘Sky Fitness,’ a ‘Sky Lounge’ for comfortable relaxation, and a ‘Shared Kitchen’ where residents can invite friends and enjoy parties. The project is also promoting the introduction of concierge and premium residential services in partnership with professional companies.

‘Yeouido Limitio148’ will be constructed in Yeongdeungpo-gu, Seoul, with 148 units in total, including 132 urban lifestyle housing units and 16 officetels, ranging from basement level 4 to ground level 20, with exclusive areas of 23 to 49㎡ across 8 types. Five neighborhood living facilities will also be developed. All units are designed as niche products under 50㎡ exclusive area to replace small apartments.

The model house for ‘Yeouido Limitio148’ will be located in Yangcheon-gu, Seoul, and move-in is scheduled for November 2022.