- Attention on Proximity to Work and Residence Near Seoul Business District CBD
- Transportation Developments Expected to Enhance Access to GBD and JBD
The location conditions of 'Hillstate Cheongnyangni Metroble,' which covers major business districts in Seoul, are attracting attention. After the early sell-out of officetels, the urban lifestyle housing is now being offered for sale, with a growing number of residents focusing on the benefits of proximity to workplaces.
'Hillstate Cheongnyangni Metroble' is a residential complex located in the Dongdaemun-gu area of Seoul, consisting of 2 buildings with 6 basement floors and 28 above-ground floors, including 96 officetel units, 288 urban lifestyle housing units (including 75 public rental units), and neighborhood living facilities spanning floors 1 to 3 above ground.
The most notable feature is its close proximity to Seoul's business districts. Cheongnyangni is well known as an area adjacent to the central business district (CBD) of Jongno-gu and Jung-gu. Future transportation projects are expected to improve accessibility to the Gangnam business district (GBD) around Teheran-ro and the Jamsil business district (JBD).
The transportation environment, which highlights the effect of proximity to workplaces, is also a key point. The complex is located within walking distance of three subway stations?Cheongnyangni Station, Jegi-dong Station, and Yongdu Station?making it a triple station area. In particular, the Dongbuk Line is scheduled to open in 2024 as part of the second phase of Seoul’s urban railway network plan, with an underground elevator connecting directly to the Dongbuk Line planned right in front of the complex, promising enhanced residential convenience and benefits.
At Cheongnyangni Station, the metropolitan area express trains (GTX) B and C lines, the Myeonmok Line, and the Gangbuk Transversal Line are expected to open. Once all planned lines are operational, the complex will transform into a penta-station area. It is also adjacent to the Inner Circular Road, Northern and Eastern arterial roads, providing excellent vehicle access. Approximately 60 bus routes pass near the complex.
Moreover, the recent Presidential Transition Committee is strongly considering excluding urban lifestyle housing from the housing count, significantly increasing its appeal as an investment destination. Industry experts anticipate that if urban lifestyle housing is excluded from the housing count, multi-homeowners who supply private rental properties will pay less comprehensive real estate tax, reducing their tax burden and leading to increased supply for rental through urban lifestyle housing.
In addition, 'Hillstate Cheongnyangni Metroble' is drawing even more market attention by combining excellent proximity to workplaces with comprehensive transportation infrastructure. In the recent residential facility subscription, it recorded an average competition rate of 46.94 to 1, with the highest competition rate soaring to 899.75 to 1 (officetel 40㎡OA, resident priority basis). In contracts, officetels and neighborhood living facilities achieved a 100% sell-out within three days, maintaining strong performance, and contracts for urban lifestyle housing are currently underway.
The complex also incorporates specialized designs tailored for residential living. First, the 'Hi-oT' system is applied for residents' convenience. By using this system, residents can conveniently control lighting, heating devices, elevators, and common entrance doors after connecting home appliances and the home network.
Community facilities include a Pilates room, book lounge, and private rooms exclusively for officetel residents on the 4th floor of the residents' common facility. For urban lifestyle housing residents, a fitness center, community lounge, and private rooms are provided. On floors 1 to 3 above ground, the neighborhood living facility 'Hills Avenue Cheongnyangni Metroble' will be established to support residents' convenience.
Meanwhile, Hyundai Engineering & Construction’s 'Hillstate Cheongnyangni Metroble' is being built in the Cheongnyangni area of Dongdaemun-gu, Seoul, with 2 buildings ranging from 6 basement floors to 28 above-ground floors, including 96 officetel units, 288 urban lifestyle housing units (including 75 public rental units), and neighborhood living facilities on floors 1 to 3 above ground. A model house is currently open for viewing.
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