Over the past 15 years, a total of 774,073 people have left Seoul, but Songpa-gu has attracted attention for its population growth. Songpa-gu is adjacent to major business districts, including the Gangnam business district, and is expected to benefit from large-scale job creation developments, leading to a steady influx of population unlike other areas.
According to an analysis of the National Statistical Portal by real estate research firm Realtoday, as of February 2023, Seoul's population stood at 9,427,583, a 7.6% decrease compared to January 2008 when the count began (10,201,656).
During the same period, out of Seoul’s 25 autonomous districts, 22 experienced population declines, while only Songpa-gu, Eunpyeong-gu, and Gangseo-gu saw population increases. Songpa-gu’s population rose by 5.2%, from 626,556 in January 2008 to 658,868 in February 2023. This increase is significantly higher compared to Eunpyeong-gu (1.6%) and Gangseo-gu (0.9%).
Industry experts note, “Songpa-gu has a geographical advantage with close access to business districts, and its housing costs are more reasonable than those in Gangnam-gu, attracting many working professionals.” They added, “Especially with Lotte World Tower housing some Lotte Group affiliates, the legal district, and the future-oriented business district of Munjeong Biz Valley nearby, there is abundant demand from young homebuyers in their 20s and 30s.”
Moreover, large-scale development projects are underway in Songpa-gu, including the creation of the Jamsil sports and MICE complex, the Songpa ICT security cluster, and the modernization of Garak Market. Additionally, cultural complex development on the former Seongdong prison site and the three-dimensional complex development of the Suseo train depot are also progressing, which is expected to further boost population inflow.
Amid this, a high-end officetel designed to absorb new housing demand from people in their 20s and 30s is drawing attention in Songpa-gu.
Overnine Holdings is currently selling ‘Asti Cabin,’ a high-end officetel located in Garak-dong, Songpa-gu, consisting of 187 units ranging from 27 to 48 square meters, in a building with 8 basement floors and 18 above-ground floors. This complex is situated in the heart of Songpa-daero, where various development benefits are concentrated, and is expected to attract demand for proximity to work.
One advantage is the application of high-end designs favored by young people in their 20s and 30s. Despite its compact size, some floor plans of ‘Asti Cabin’ feature 3Bay layouts to maximize natural light and ventilation, and glass materials are actively used in finishes to enhance openness.
The space’s luxury is further elevated by the application of a high-end living brand. Imported furniture from brands such as Obellino and Domio Cucine is provided in all officetel types, and essential home appliances including Samsung’s combi refrigerator, drum washing machine, dryer, and AirDresser are fully equipped.
Systematic housing management services specialized for high-end residences are also offered. The housing management brand Tower PMC, which has expertise managing ultra-luxury residences like Tower Palace and Hannam The Hill, is responsible for the management and operation of ‘Asti Cabin.’ Through this, residents can enjoy space management and concierge services typically available only in Korea’s premier high-end residences.
‘Asti Cabin’ operates a gallery and visits are available by 100% advance reservation.
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