The Popularity of Officetels Soars with the Rise of 1-2 Person Households, 'Hillstate Jang-an Lavonita' Scheduled for June Sale

- Preference for Small Housing Boosts Popularity in Officetel Sales and Leasing Market
- 'Hillstate Jang-an Lavonita' Launching Soon in Prime Location of Jang-an-dong, Seoul

With the increase in single- and two-person households, the popularity of small- to medium-sized officetels is surging. The demand is growing as the required living space for small households gradually shrinks, and the threshold for apartment subscription remains high.

According to Statistics Korea, in 2020, the number of households with two or fewer members nationwide was 12,507,879. This accounts for about 59.8% of the total 20,926,710 households, meaning more than half of South Korea’s households consist of two or fewer people.

Furthermore, the number of households with two or fewer members has been increasing annually. In 2016, the number of such households was 10,464,781, which increased by about 270,000 compared to 2015 (10,197,258 households). Subsequently, the figures were △2017 (10,879,009 households), △2018 (11,299,485 households), and △2019 (11,810,846 households).

As the proportion of one- and two-person households grew, the demand for officetels suitable for small households increased, leading to a rise in sales transactions. According to Real Estate R114 data, last year, the number of officetel sales transactions nationwide was 36,664, the highest volume in the past five years (2017?2021). In particular, the number of officetel sales transactions in the Seoul metropolitan area last year was 29,133, accounting for 79.5% of total transactions.

With the rising demand for officetels, their sales prices have also increased. According to KB Real Estate price data, the May sales price for a 77㎡ unit at ‘Raemian Yongsan The Central’ in Yongsan-gu, Seoul, was 1.35 billion KRW, up 270 million KRW from 1.08 billion KRW in the same month last year. Additionally, an 84㎡ unit at ‘Landmark City Central The Sharp’ in Yeonsu-gu, Incheon, rose by 220 million KRW (from 520 million KRW to 740 million KRW) during the same period.

Not only in the sales market but also in the recent pre-sale market, officetels have attracted high interest and achieved good sales results. For example, in April this year, the officetel ‘Deogeun DMC Aileen’s Garden Central (Blocks 8, 9, 10)’ in Deogyang-gu, Goyang-si, Gyeonggi-do, received a total of 9,117 applications for 210 units, recording an average competition rate of 43.41 to 1.

Meanwhile, Hyundai Engineering & Construction plans to launch the residential officetel ‘Hillstate Janghan Lavonita’ in Jangandong, Dongdaemun-gu, Seoul, in June.

Hillstate Janghan Lavonita features a 4-bay floor plan design typical of new apartments, making it suitable for family living. Additionally, the shared bathroom includes a dry washbasin that separates the washing area from the toilet, enhancing space practicality, which is expected to attract strong interest from buyers.

Moreover, the 74㎡A type is designed with an attic structure to maximize space utilization, while the 74㎡B type boasts a high ceiling height of 2.6 meters (based on the living room’s recessed ceiling), providing excellent openness. The project also plans to include ample storage spaces such as a large shoe cabinet, tall kitchen cabinets, and a dressing room, further enhancing space efficiency.

The transportation environment is also excellent. The complex is within walking distance of Janghanpyeong Station on Subway Line 5. Using this line, residents can travel directly to Gwanghwamun and Yeouido without transfers, and enjoy convenient public transit commutes to major business districts such as City Hall (about 24 minutes) and Gangnam (about 31 minutes).

Additionally, nearby expressways such as the Internal Circulation Road and Dongbu Expressway provide a wide transportation network, making it convenient to use both private vehicles and public transportation. These major arterial roads facilitate easy access throughout Seoul.

Located in the main commercial area of Jangandong, a key urban district, the complex is surrounded by abundant living infrastructure. Nearby amenities include Lotte Department Store Cheongnyangni Branch, Hanyang University Hospital, Jangandong Food Alley, and Homeplus Dongdaemun Branch.

Within walking distance are schools such as Anpyeong Elementary, Jangpyeong Middle, and Dongdaemun Middle and High Schools, offering excellent educational conditions.

Hillstate Janghan Lavonita consists of 162 units with exclusive areas of 74㎡, spanning from six basement floors to 19 above-ground floors, and will have a model house available for viewing.