Rapid Increase in High-Income Single-Person Households... Premium Small Residential Space 'Billive The Able'

As the proportion of high-income single-person households rapidly increases, premium small-scale residential areas targeting their consumption patterns are expected to gain prominence.

According to the '2021 Population Census' released by Statistics Korea, there are 7.2 million single-person households nationwide, accounting for 33.4% of the total population. This is 1.8 times the number of households with four or more members, which was a representative family type.

Compared to five years ago in 2016, households with four or more members decreased by 5.7 percentage points, while single-person households increased by 5.5 percentage points. According to Statistics Korea's future household projection data, single-person households are expected to continue increasing, reaching 8.3 million households by 2030 and 9.1 million households by 2040.

In particular, the proportion of people in their 20s among single-person households was the highest at 19.0%, and the ratio of households in the top 10% of annual income among these households is increasing, raising expectations for changes in their position in the capital market.

According to the '2022 Korea Single-Person Household Report' published by KB Financial Group, over the past 10 years, the average annual growth rate of households in the top 10% of annual income was 3.0% for single-person households, higher than 2.4% for households with two or more members.

As high-income single-person households increase, premium small-sized housing targeting them is also gaining popularity.

'The Chamber,' a development in Magok District, one of Seoul's four major business districts, recorded a competition rate of up to 147 to 1 last year despite its high price exceeding 1 billion KRW. The complex is known as a high-end residential space with luxurious interiors, community facilities, and hotel-style concierge services located near Hwagok Station, which received strong responses from single-person households.

Meanwhile, new supply complexes for 1-2 person households are attracting attention near Sinchon Station, close to Yeouido, Gwanghwamun, and Mapo business districts. 'Belive The Able' is the main project.

'Belive The Able' is a mixed-use complex with one building ranging from six basement floors to 23 above-ground floors, consisting of 299 urban lifestyle housing units (including rental) and 34 officetel units.

'Belive The Able' offers access to both Sinchon Station on Line 2 and Seogang University Station on the Gyeongui-Jungang Line, allowing quick travel to major business districts. Via Line 2, it takes about 10 minutes to reach the CBD (Jongno and Jung business districts), and about 30 minutes to the GBD (Gangnam business district). Using the Gyeongui-Jungang Line, residents can directly reach DMC (Digital Media City), a content production and distribution business complex.

Residents can also enjoy convenience facilities near university areas. Shopping, cultural, and convenience facilities such as Hyundai Department Store, E-Mart, CGV, Gyeongui Line Forest Trail, and Sinchon Severance Hospital are well equipped.

The complex also boasts product designs tailored to the tastes of 1-2 person households seeking premium residential spaces. The units range from 38 to 49 square meters in exclusive area, with a ceiling height of 2.6 meters, 30 cm higher than typical apartments, providing a spacious feel. Luxury is enhanced by applying German famous furniture brand 'Nolte' and Italian faucet brand 'Gessi.'

High-quality concierge services are also provided. A separate concierge desk operates to assist with various service reservations, offering residents more convenient living.

Distinctive community facilities are also established. An entire floor is dedicated to private showers, fitness and GX rooms, screen golf, private offices divided into independent spaces, lounges for relaxation and leisure, and a rooftop.

'Belive The Able,' expected to be highly popular among 1-2 person households seeking a premium lifestyle, also reduces financial burdens for contract holders. Interest-free benefits on interim payments mean no interest burden even during high-interest periods, and full options such as ceiling-type system air conditioners, washing machines, dryers, kitchen ovens, and island dining tables are provided free of charge.

For more details about the 'Belive The Able' sale, please check the promotional center.