Office-tels Now Follow Brand Trends... Prices Also 'Jump'

This Month, Over 4,000 Units Supplied by Top 10 Construction Brands in Gyeonggi and Daejeon

[Asia Economy Reporter Jo Gang-wook] Recently, as demand for officetels as alternatives to apartments has increased, the supply of officetels branded by major large construction companies is also continuing.

According to real estate market analysis firm Real Estate Info and Korea Real Estate Agency's Subscription Home, more than 4,000 branded officetel units from four of the top 10 large construction companies are scheduled to be supplied this month in Incheon, Gyeonggi, Daejeon, and other areas.

Daewoo Construction is introducing Yeonhui Park Prugio La-Clair in the Gyeongseo 3 District Urban Development Zone, Seo-gu, Incheon. The complex consists of 4 buildings ranging from 3 basement floors to a maximum of 49 floors above ground, with 985 units sized 53~82㎡ (exclusive area). All units are designed mainly facing south and in a slab-type layout.

Hyundai Construction is launching ‘Hillstate Gwacheon Cheongsa Station’ on the former Samsung SDS site in 1-21 Byeolyang-dong, Gwacheon-si, Gyeonggi-do. It is a residential complex combining residential officetels, section offices, and neighborhood living facilities, consisting of one building with 8 basement floors and 29 floors above ground. The officetels are located on floors 19 to 29 above ground, with a total of 89 units designed with a single size of 84㎡.

In Hwajeong-dong, Goyang-si, Lotte Construction is offering ‘Goyang Hwajeong Lumini’ for sale. It will be built with 242 units sized 77~84㎡ across 5 basement floors to 24 floors above ground. This is the first complex applying Lotte Construction’s urban residential brand ‘LUMINI’. Additionally, POSCO Construction is supplying ‘The Sharp Doan Twinence’ in Doan New Town, Daejeon, with 308 units sized 84㎡.

Major brand officetels are also achieving consecutive successes in popularity. For example, GS Construction’s Pangyo Valley Xi in Godeung District, Seongnam-si, Gyeonggi-do, recorded an average competition rate of 232 to 1 with 65,503 subscription applications for 282 units.

Recently supplied projects such as Daewoo Construction’s Bukcheongra Prugio Traciel, Hyundai Construction’s Hillstate Doan First and Hillstate Cheonggye Central, and POSCO Construction’s The Sharp Songdo Centum Hive and The Sharp Ilsan Eloy all achieved average competition rates in double digits or higher.