Rising 'Asti Cabin' as an Alternative to Insufficient Small Apartments

By 2050, it is projected that one- to two-person households will account for 76% of the total population, highlighting the need to improve the supply of small-sized housing to meet this demand.

According to the ‘2020?2050 Future Population and Household Projections’ recently released by Statistics Korea, the number of one- to two-person households in South Korea is expected to reach approximately 17.32 million by 2050, representing 75.8% of the total population. In contrast, four-person households, currently considered the standard household size, are predicted to decrease to 6.2% by 2050, becoming a rare household type.

While one- to two-person households are rapidly increasing, the supply of small apartments is not keeping pace. According to Real Estate 114, the number of small apartments under 60㎡ in Seoul has been declining annually: △6,914 units in 2019 △6,261 units in 2020 △5,176 units in 2021 △3,352 units in 2022.

In particular, districts adjacent to major business areas such as Gwangjin-gu (21.89%), Seocho-gu (23.07%), Songpa-gu (26.02%), and Yongsan-gu (26.82%) show a significant shortage of small apartments. These areas are preferred residential locations for one- to two-person households seeking proximity to work, but only about two out of every ten units are small-sized housing.

Given this situation, officetels are gaining strong popularity as alternative residential spaces to small apartments. They are specialized products designed considering the lifestyle of the rapidly growing one- to two-person households and are located in the heart of the city where transportation and convenience facilities are concentrated, unlike apartments, which has contributed to their rising popularity.

Moreover, the Yoon Seok-yeol administration is reportedly considering excluding small residential facilities such as residential officetels and urban lifestyle housing from the count of housing units used as the basis for property tax, attracting investors’ attention to officetels.

An industry expert stated, “One- to two-person households are increasing rapidly in Seoul, where major business districts are concentrated, but the supply of small housing has not been smooth due to various regulations. In this context, recently supplied officetels are free from many regulations such as loans compared to apartments and have excellent marketability, emerging as a residential alternative for one- to two-person households.”

Amid this trend, a small residential space with differentiated design and specialized planning is attracting attention in Songpa-gu.

‘Asti Cabin,’ developed by real estate developer Over9 Holdings and launching this month, consists of 187 residential officetel units with exclusive areas ranging from 27 to 48㎡, located in Garak-dong, Songpa-gu, Seoul, in a building with eight basement floors and 18 above-ground floors.

The complex is themed around the concept of a cabin, offering a quiet and safe place to rest in a busy city, with natural aesthetics reflected from the exterior to the interior layout and community facilities. The interior of the officetel also features aesthetic design.

The interior design incorporates the concept of sunrise and sunset times, and despite the small area, applies a 3Bay layout (in some floor plans) to maximize natural lighting and ventilation, while actively using glass materials for finishes to enhance openness.

Notably, features such as wardrobes that can be opened from both sides, a hidden kitchen designed to conceal daily living when not in use, and magnetic rail lighting systems that allow easy changes to lighting plans maximize space utilization and add convenience to living with aesthetic specialized design.

Private community services are also a strong point. An independent shared office with a library function is located in the lobby, configured as a ‘Nomadic Workspace’ where residents can work without time or place restrictions. On the top floor, a ‘Rooftop Forest’ with an independent circulation path is created to allow residents to enjoy nature’s healing alone anytime. Additionally, facilities such as a screen golf club, laundry corner, unit storage, and shared kitchen are provided.

Especially, the ample parking space is expected to receive great responses from demanders. ‘Asti Cabin’ secures 127% of the legally required parking spaces. Compared to most officetels supplied recently in the Gangnam area, which barely meet the legal parking requirements, this is a noticeable advantage. Furthermore, ‘Asti Cabin’ arranges parking spaces so that five vehicles can enter and exit simultaneously, minimizing inconvenience and stress caused by parking during busy commuting hours.

‘Asti Cabin,’ expected to receive strong support from one- to two-person households due to its differentiated residential value, is offered as a residential officetel and is thus exempt from various regulations such as financing plans, mandatory residence, and re-winning restrictions. Also, unlike apartments where acquisition tax is increased based on the number of owned houses, a fixed acquisition tax rate of 4.6% applies, reducing the tax burden.