Brand and Transit Hub Equipped 'Imun I-Park Xi Officetel IM594' Draws Attention

[Imun I-Park Xi Officetel IM594 Perspective View]

Amid the prolonged high-interest rate environment and sluggish real estate market, the officetel market is experiencing an intensified selection process for a smart single unit. Many experts predict that from a long-term perspective, ‘prime’ complexes equipped with elements such as brand reputation and proximity to subway stations will see value appreciation when officetel supply shortages coincide with regulatory easing.

First, popular brand officetels built by large construction companies are highly preferred among buyers due to their excellent quality comparable to apartments, as well as high business stability and reliability. In particular, officetels developed alongside apartments can share apartment community and landscaping facilities, providing an even more pleasant living environment.

Moreover, officetels located near subway stations offer easy access to other areas and benefit from abundant lifestyle infrastructure such as cultural facilities, shopping centers, and convenience stores clustered around the station, which further enhances their value. They also secure abundant rental demand, increasing their investment value.

This year, ‘brand + subway station’ officetels performed well in the subscription market. According to Korea Real Estate Agency’s Subscription Home, in July this year, the ‘Yongsan Hoban Summit Edition’ officetel in Yongsan, Seoul, attracted 5,225 applicants for 49 units, recording a competition rate of 106.6 to 1. The project drew attention with its location near Sinyongsan Station and the Hoban Summit brand by Hoban Construction, ranked 10th in the 2023 construction capability evaluation.

Also, in Cheongju, Chungbuk Province, the ‘Shinyoung Jwell Prugio Technopolis Central’ officetel recorded a competition rate of 28.2 to 1 with 6,606 applicants for 234 units. The Prugio brand and the planned proximity to Bukcheongju Station within walking distance attracted many subscribers.

A real estate expert said, “In the current market situation, it is advisable to focus on officetels with good location conditions such as proximity to subway stations and strong brand names,” adding, “With the newly appointed Minister of Land, Infrastructure and Transport recently indicating directions regarding non-apartment policies and high expectations for regulatory easing, it is also beneficial to preemptively secure prime complexes.”

Amid this, the ‘Imun I-Park Xi Officetel IM594,’ scheduled for sale in February, is gaining attention. This complex, supplied by a consortium of HDC Hyundai Development Company and GS Construction, applies a top-tier brand and boasts high investment value as a subway station officetel.

Imun I-Park Xi Officetel IM594 is located in Imun-dong, Dongdaemun-gu, Seoul, consisting of one building with 4 basement floors and 25 above-ground floors, totaling 594 units with exclusive areas ranging from 24 to 52 square meters. Of these, 584 units are for general sale.

The advantage of this complex lies in its ultra-subway station and double subway station location. It is an ultra-subway station complex directly adjacent to Seoul Subway Line 1’s Hyehwa Station, and also boasts a double subway station advantage with nearby Sinyimun Station within walking distance. Additionally, well-developed road networks such as Imun-ro, Mangu-ro, Dongbu Expressway, and Internal Circulation Road nearby enhance transportation convenience by car. Notably, the Dongbu Expressway is undergoing an underground project (from Wolreunggyo in Nowon-gu to Daechi-dong in Gangnam-gu), which is expected to significantly improve access to Gangnam.

Furthermore, Cheongnyangni Station near the complex currently serves multiple lines including Seoul Subway Line 1, Suin-Bundang Line, Gyeongui-Jungang Line, Gyeongchun Line, and KTX Gangneung Line. Future plans include GTX B (Songdo?Maseok), GTX C (Deokjeong?Suwon), Myeonmok Line (Cheongnyangni?Sinnae-dong), and Gangbuk Transversal Line (Cheongnyangni?Mokdong), positioning the area as a transportation hub in the metropolitan area.

Nearby development benefits are also abundant. Seoul City and Dongdaemun-gu are currently developing the Hongneung R&D Support Center and Advanced Medical Device Development Center in the Hongneung area near the complex. Dongdaemun-gu plans to designate this area as the ‘Hongneung Bio Hub Valley’ to attract related companies and research institutes, and is also pursuing designation as a special development promotion district offering various benefits such as tax incentives, raising expectations for high future value.

Additionally, Imun I-Park Xi Officetel IM594 is part of a large complex totaling 4,915 households/units including multi-family housing, making it the largest scale development within the Imun-Hwigyeong New Town area, which is expected to become a landmark complex representing the district.

Specialized design also enhances the value of the complex. In particular, the exclusive 24㎡ units are configured as studio types with space designed to accommodate up to two beds, allowing for maximum utilization as a two-person, one-unit setup depending on usage.