- Located in Yeouido, a prime area densely populated with high-income workers from financial firms, public institutions, and broadcasters, offering abundant demand
- Approximately 78% feature 2~3 bay, 2~3 room layouts, ideal for 2~3 person households
As income-generating real estate with stable revenue streams gains popularity amid the government's stringent real estate regulations, officetels supplied in areas with concentrated high-income rental demand are attracting attention.
A representative location is Yeouido in Seoul. Yeouido is known as the financial hub of South Korea, with numerous financial companies, the Financial Supervisory Service, the Seoul International Finance Center (IFC), and the Federation of Korean Industries building densely located there. In addition, the National Assembly, broadcasting stations, and other institutions are situated in the area, creating a solid base of high-income tenants from various sectors, making it advantageous for securing rental income.
Moreover, Yeouido boasts well-established infrastructure including transportation, culture, education, and convenience facilities, making it a preferred and convenient residential environment. With access to Subway Lines 5 and 9, it is easy to travel anywhere across Seoul. Through Mapo-daero and Seogang Bridge, residents can reach Gwanghwamun and the Seoul Central Business District (CBD), and transportation to areas outside Seoul is also convenient via Olympic-daero and the recently opened Sinwol Underpass (Yeouido-Incheon).
Additionally, proximity to IFC Mall and Hyundai Department Store offers excellent access to shopping and cultural facilities, while abundant green spaces such as the Han River and Yeouido Park provide a pleasant living environment. The area is located within excellent school districts including Yeouido Middle School and High School, and medical facilities such as Hallym Sacred Heart Hospital and Catholic St. Mary’s Hospital are easily accessible.
Consequently, officetels launched in Yeouido have recorded high competition rates and gained popularity. The ‘Hillstate Yeouido Pine Luce,’ supplied in June last year, recorded an average competition rate of 18.52 to 1, with a resident priority application competition rate reaching 99.14 to 1. The ‘Brighton Yeouido,’ launched in 2019, also completed its subscription successfully with an average competition rate of 26.4 to 1.
An industry insider stated, “Yeouido is an office-dense area with a resident population of about 150,000, including financial company employees, politicians, and broadcasting workers, and a floating population exceeding 80,000, making it the area with the highest number of office workers in Seoul. Particularly, monthly rents in Yeouido easily exceed 1 million won, but there is a large number of high-income tenants who can afford this, making it easier to generate stable cash flow income.”
Amid this, Hyundai Asan is set to launch the residential officetel ‘Yeouido Hyundai Maestro’ in Yeouido, which has abundant rental demand, this coming April.
The officetel will be developed with 14 types ranging from 25 to 77 square meters of exclusive area, with about 78% of the total units designed as 2-3 bay, 2-3 room residential officetels, expected to be popular in Yeouido where new small apartments are scarce.
Yeouido Hyundai Maestro is located within the Yeouido Business District (YBD), where securities firms and banks are concentrated, boasting a location that allows for proximity between home and workplace. It is a station-area officetel just a 3-minute walk from National Assembly Station on Subway Line 9, enabling access to Sinnonhyeon Station in Gangnam within 10 minutes via Line 9. Yeouido Station, a transfer station between Lines 5 and 9, is also accessible within a 15-minute walk, facilitating easy travel to other business districts.
With transportation network expansions including GTX-B, Sinansan Line, and Sillim Line, along with various development benefits such as the undergrounding of Gukhoe-daero and creation of an aboveground park, and redevelopment of aging housing, the locational value of Yeouido Hyundai Maestro is expected to increase further.
Yeouido Hyundai Maestro also boasts excellent product features. It applies a specialized design of 2-3 bay and 2-3 room layouts, making it ideal for 2-3 person households and newlyweds. Built-in appliances such as a refrigerator, electric oven, washing machine, dryer, 2-3 burner induction cooktop, and built-in dishwasher are provided as standard, offering both residential convenience and efficient space utilization.
On the basement level 1, community facilities comparable to high-end residential products will be established. These include a screen golf practice range, upscale fitness center, PT room, business lounge, business room, and multi-purpose room to support residents’ work needs. Indoor gardens and resting areas will be created to enrich leisure time, and neighborhood living facilities will be located on the lower floors, enabling convenient living within the complex.
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