As various developments continue in the northwestern area of Seoul where Eunpyeong-gu is located, interest in the real estate market around Yeonsinnae Station, which is on the GTX line, is heating up.
Yeonsinnae Station, a transfer station between Seoul Subway Line 3 and Line 6, ranks third in average daily passenger traffic among all Line 3 stations and first within the Gangbuk area, making it a key transportation hub in northwest Seoul. However, due to the relatively high aging of housing and commercial buildings, residential preference has been comparatively low.
However, with the first GTX line, GTX-A, stopping at Yeonsinnae Station, its partial opening in 2024 is expected to significantly increase the locational value of Yeonsinnae Station within Eunpyeong-gu. In fact, using GTX from Yeonsinnae Station allows arrival at Samseong Station in about 9 minutes, making the Gangnam living area accessible. Accordingly, complexes located in the Yeonsinnae Station area are expected to enjoy value comparable to subway stations in Gangnam, rather than typical station areas. Additionally, since there are only four GTX-A line stations in Seoul?Yeonsinnae Station, Seoul Station, Samseong Station, and Suseo Station?the scarcity premium is also expected to be high.
There is also a large-scale redevelopment of the ‘Yeonsinnae District Unit Plan’ underway, aiming to develop Yeonsinnae Station in connection with GTX as a center for business, commerce, startups, and culture. The target area covers approximately 160,000㎡ around Bulgwang Station’s 311 block, including the Yeonsinnae Station area. Plans include revitalizing and renovating Eunpyeong-gu’s traditional markets, introducing high-density residential areas near the station, creating street-type commercial spaces, organizing commercial streets, and fostering youth startups, thereby strengthening the central functions through commercial facility improvements and activation.
Recently, Seoul City announced plans to build a landmark-scale complex facility up to 60 stories high on the Seoul Innovation Park site near Yeonsinnae Station. According to the plan, specialized office spaces creating quality jobs, a new Seoul City University industry-academia campus called ‘Seoul UIC Campus’ for nurturing advanced industry talent, and a public housing complex with about 800 units will be constructed. In terms of scale, this will surpass COEX, the largest complex commercial facility in the Gangnam area. Seoul City plans to finalize the basic plan within this year, start construction in the second half of 2025, and complete it by 2030.
An industry insider said, “Starting with the partial opening of the GTX-A line next year, development winds will blow through the Yeonsinnae Station area, solidifying its position as the center of northwest Seoul.” He added, “Especially, new complexes supplied in the Yeonsinnae Station area will fully benefit from these developments, attracting strong interest from buyers.”
Meanwhile, Shinsegae Construction is preparing ‘Villiv Acent’ as its first pre-sale complex in 2023, offering the first GTX lifestyle in Seoul. Villiv Acent is attracting attention as the practical start of the Yeonsinnae Station area’s complex development. ‘Villiv Acent (5 basement floors to 24 above-ground floors, total 492 units)’ will be built as a mixed-use facility with residential, office, and educational functions, along with commercial facilities housing a multiplex cinema, and is expected to become a symbolic space of Yeonsinnae Station in the future.
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