Passing Through 10 Railway Lines... 'Hillstate Cheongnyangni The First' Draws Attention

Locations with secured demand and development prospects in commercial markets are considered the formula for successful investment. This is because they can expect stable income generation through steady demand, as well as potential capital gains from increased demand due to development and rising future value.

Accordingly, even in the somewhat subdued commercial leasing market, commercial properties that possess all these factors continue to maintain steady popularity.

The commercial facilities of ‘Hillstate Cheongnyangni The First’ are attracting attention for their prime location at the core gateway of the Cheongnyangni commercial district, which is advantageous for absorbing abundant foot traffic. In particular, the ‘Hillstate Cheongnyangni The First’ commercial facilities are built together with residential officetels spanning from basement level 5 to a maximum of 43 floors above ground, consisting of 3 buildings, with exclusive areas ranging from 37 to 84㎡, totaling 486 units, securing stable fixed demand as a ‘station-area brand commercial facility.’

According to a nearby real estate agent, “Hillstate Cheongnyangni The First began move-ins at the end of December last year, and the rapid completion of move-ins is being regarded as exceptional,” adding, “This seems to reflect the recent high interest in the area around Cheongnyangni Station, and with abundant future development prospects, foot traffic is expected to increase, leading to early activation of the commercial facilities.”

In fact, the ‘Hillstate Cheongnyangni The First’ commercial facilities secure all the key factors for commercial success, including a location with secured demand and development prospects.

First, the area around Cheongnyangni Station is considered the top transportation hub in northeastern Seoul. This is because a total of six lines currently pass through Cheongnyangni Station: Line 1, Gyeongwon Line, Bundang Line, Gyeongui-Jungang Line, Gyeongchun Line, and KTX Gangneung Line. Moreover, with the planned addition of four new lines?the Metropolitan Area Express Railway (GTX) Line B (Songdo-Maseok), GTX Line C (Deokjeong-Suwon), Myeonmok Line (Cheongnyangni-Sinnae-dong), and Gangbuk Transversal Line (Cheongnyangni-Mokdong)?it is expected to become Seoul’s premier transportation hub with a total of 10 lines.

Notably, only three locations in Seoul?Seoul Station, Samseong Station, and Cheongnyangni Station?have two GTX lines stopping. According to the Ministry of Land, Infrastructure and Transport, Cheongnyangni Station had 150,000 daily users in 2020, and this number is expected to increase to 300,000 by 2030.

In fact, as expectations rise for the transformation of Cheongnyangni Station into a transportation hub, the surrounding complexes are also anticipated to benefit.

A real estate expert said, “With ongoing transportation developments, interest from both end-users and investors in the beneficiary complexes around the area is increasing, heating up the market near Cheongnyangni Station,” adding, “As the area is expected to be reborn as a transportation hub, foot traffic and surrounding demand are also expected to grow.”

Besides transportation, future development plans around Cheongnyangni Station are continuously progressing, further enhancing its future value. Construction companies have already been selected for projects such as Cheongnyangni District 6 (GS Construction), Districts 7 and 8 (Lotte Construction), and Jegi Districts 4 and 6 (Hyundai Construction and SK Eco Plant), with projects underway. Additionally, redevelopment projects for Miju Apartments and Jeonnong Districts 9 and 12 are ongoing, which is expected to further increase the regional value.

Recently, with the influx of younger populations, the commercial district around Cheongnyangni is experiencing changes. The Lotte Department Store inside Cheongnyangni Station was remodeled last month, attracting more young visitors. The excellent accessibility to subway Line 1 and other rail lines has made the first floor of Lotte Department Store, which consists of cafes and restaurants, so crowded that it is difficult to find vacant spots.

A real estate expert advised, “Areas like Cheongnyangni Station, which have abundant transportation and development prospects, tend to maintain their value relatively well and have abundant demand, thus continuing to be popular even during downturns,” adding, “When considering future real estate investment or move-in, it is important to comprehensively consider such location and development factors.”

[‘Hillstate Cheongnyangni The First’ Exterior View]