Clear Rise in Apartment and Officetel Prices... Value-Oriented Officetel 'Pungmuyeok Prugio City'

- Apartment and officetel sale prices steadily rising... The threshold for home ownership getting higher
- Recently launched 'Pungmu Station Prugio City'... Attracts attention by removing price bubbles

Despite the government's high-interest rate policy, ongoing inflation and rising raw material prices are hindering the housing pre-sale market. As interest rates rise, the entry barrier to the pre-sale market has increased, and fluctuating raw material prices are driving up pre-sale prices.

In fact, the pre-sale prices of private apartments have steadily increased until September. According to the “Private Apartment Pre-sale Price Trends (as of the end of September 2022)” by the Housing and Urban Guarantee Corporation, the average pre-sale price per square meter in September was 4,505,000 KRW. This represents a 1.13% increase from the previous month (4,454,000 KRW) and a 5.90% increase compared to the same month last year (4,254,000 KRW).

Pre-sale prices for officetels are also estimated to be on a gentle upward curve. Since officetels with fewer than 300 units are excluded from mandatory internet subscription (Chungyak Home), calculating the average pre-sale price is practically difficult. However, industry insiders explain that the sharp rise in raw material prices this year has partially been passed on to pre-sale prices.

Among these, officetels that have started pre-sale in the area of Pungmu-dong, Gimpo City, which is administratively part of Gyeonggi Province but effectively included in the Seoul metropolitan area, are attracting attention.

Located in the station area of Pungmu Station on the Gimpo Gold Line, it holds significant development prospects. With reasonably set pre-sale prices, it is drawing interest not only from actual residents but also from investors. The spotlight is on ‘Pungmu Station Prugio City’.

This officetel will be constructed as a single building with 4 basement floors and 10 above-ground floors, offering exclusive areas of 64㎡, 67㎡, and 82㎡. It is a branded residential-type officetel by a major construction company, rare in the Pungmu 2 district, and consists of 6 types totaling 288 units, allowing buyers to choose according to their lifestyle.

The 288 units are designed as two-room spaces spacious enough for 2-3 person households. Since the area around Pungmu Station mainly consists of studio-type officetels, there is expected to be abundant waiting demand for two-room units suitable for entire households to live in.

‘Pungmu Station Prugio City’ offers interest-free installment payments to reduce consumers’ financial burdens. Considering that recent mortgage loan interest rates have surpassed 6% at the upper end, this is expected to significantly reduce financial costs.

Additionally, facilities such as individual room temperature control systems, sensor-operated water-saving kitchen faucets, bathroom floor heating, and built-in appliances including kimchi refrigerators, combo refrigerators, drum washing machines, and dryers are provided free of charge, greatly helping buyers reduce their home purchase costs. Moreover, various paid plus options tailored to residents’ preferences, such as specialized storage, living room features, and lighting, enable customized layered homes.

With these conditions, ‘Pungmu Station Prugio City’ is located in an area with excellent local accessibility.

First, the complex secures a station-area location within walking distance of Pungmu Station on the Gimpo Gold Line. Residents can walk to and from Pungmu Station, and Gimpo Airport Station, where the Incheon Airport Railroad, Subway Lines 5 and 9, and the Gimpo Gold Line intersect, is just two stops away. Using this route, one can access major Seoul business districts such as Yeouido, Magok District, Gangnam area, and Seoul City Hall.

Nearby lifestyle convenience facilities are abundant. Facilities such as E-Mart Traders Gimpo Branch, Homeplus Gimpo Pungmu Branch, and CGV are easily accessible, along with neighborhood parks like Seonsu Park and Saejangteo Park. There are also ample cultural and sports facilities including Gimpo Sports Complex, Pungmu National Sports Center, and Gimpo Citizens’ Hall Indoor Gymnasium.

Furthermore, using Gimpo Hangang-ro, Olympic-daero, and the Seoul Metropolitan Area 1st Ring Expressway, it is easy to travel not only to Seoul but also to Incheon and major cities in Gyeonggi Province.

Transportation conditions are expected to improve further. The Han River Line, an extension of Seoul Subway Line 5 to Gimpo and Geomdan, was included in last year’s 4th National Railroad Network Plan, raising expectations. There are plans to develop Pungmu Station on the Gimpo Gold Line as a transfer station for the Han River Line.

Surrounding development prospects are also abundant, anticipating future population inflow. Inha University Gimpo Medical Campus and a 700-bed Inha University Hospital are scheduled for completion in 2027. Additionally, the area is expected to benefit from the ‘Hangang Cinepolis (Industrial Complex)’ being developed as a business and residential complex city.

Currently, ‘Pungmu Station Prugio City’ is conducting first-come, first-served unit selection contracts. Regardless of residence area or subscription account status, buyers can choose their preferred unit and proceed with the contract.