The Era of Small Apartments in Seoul... Interest in 'Mapo Epyt Urbanic'

- Changing Status of Small Apartments Due to Increase in 1-2 Person Households and Villa Avoidance
- New Small Apartment 'Mapo Epitte Urbanic' Near Aeogae Station on Subway Line 5 to Be Launched in September

With the increase in 1-2 person households in Seoul, rising apartment sale prices, and the aversion to non-apartment housing, the popularity of small apartments in Seoul is steadily rising. As interest in small-sized units heats up, small apartments priced under 600 million KRW are gradually disappearing in Seoul.

According to the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system, from January to May this year, the number of apartment transactions in Seoul with exclusive area of 59㎡ or less was 8,180. Among these, transactions under 600 million KRW accounted for 3,024 cases, representing 37% of the total.

The proportion of transactions under 600 million KRW among apartments with exclusive area of 59㎡ or less remained in the 90% range until 2016, but started to decline gradually from 2017 (87.1%), dropping to 51% in 2021 during the period of rapid apartment price surge. It then recorded 43.2% last year, and this year hit an all-time low, signaling a shift in the status of small apartments in Seoul.

An official from a sales company said, “As 1-2 person households increase, demand for small-sized units is expanding, and with the recent issue of non-apartment rental deposit non-return cases, interest in small apartments is inevitably rising even more.”

As demand for small apartments grows, ‘Mapo Effit Urbanic,’ being sold by HL D&I Hanla in Ahyeon-dong, Mapo-gu, Seoul, is attracting attention. This apartment complex is an urban maintenance-type redevelopment site, designed with two buildings ranging from basement 5 floors to ground 24 floors, comprising 198 apartment units (exclusive area 34~46㎡) and 209 officetel units (exclusive area 42/59㎡). Unlike nearby urban-style residential housing, it is an apartment type, offering a more comfortable living environment.

The complex boasts an optimal location with a perfect balance of education, transportation, and living infrastructure. It is a super-station apartment located just a 2-minute walk from Aeogae Station on Seoul Subway Line 5, allowing quick and convenient access to Seoul’s major business districts such as Yeouido, Gwanghwamun, City Hall, Jongno, and Gangnam. Additionally, Gongdeok Station, a transfer station for Subway Lines 5 and 6, Gyeongui-Jungang Line, and Airport Railroad, is also accessible.

‘Mapo Effit Urbanic’ also offers excellent educational environments. Nearby are Ahyeon Elementary School and Seoul So-ui Elementary School, with many other elementary, middle, and high schools clustered in the area including Gongdeok Elementary, Hanseo Elementary, Ahyeon Middle, Sungmoon Middle, Seoul Girls’ Middle, Hwanil Middle, Baemun Middle, Hwanil High, and Baemun High. Furthermore, Son Ki-jeong Children’s Library, Mapo Lifelong Learning Center, and Cheongpa Library are close by, along with prestigious universities such as Yonsei University, Sogang University, Ewha Womans University, and Sookmyung Women’s University.

Abundant living infrastructure is another advantage. Retail and shopping facilities like E-Mart, Lotte Mart, and Hyundai Department Store, as well as CGV and Megabox cinemas, are nearby. Public offices such as Mapo Police Station and Seoul Western District Court are also close, providing a convenient living environment. Additionally, large hospitals including Sinchon Severance Hospital and Kangbuk Samsung Hospital are accessible, and green spaces like Gyeongui Line Forest Park, Hyochang Park, Manri Reservoir Park, and Son Ki-jeong Sports Park are nearby, ensuring a pleasant residential environment.

‘Mapo Effit Urbanic’ will stand as the tallest building in the vicinity, offering expansive sky views along with a sense of openness and comfort. Moreover, various community facilities will be provided to enhance residents’ quality of life. Fitness and GX rooms, a golf club, table tennis room, dancing room, locker rooms, and shower facilities will be established on the second basement floor, allowing for diverse exercise options.

For residential officetels, the exclusive 59㎡ type features a 3-bay, 2-room layout with two bathrooms, a U-shaped kitchen, separate laundry room, pantry, and, for the first time in Seoul, balconies are included, effectively incorporating all the advantages of an apartment in a specialized design. The ceiling height is 20cm higher than typical officetels to maximize openness, and appliances, furniture, and sliding doors are provided free of charge.

Meanwhile, ‘Mapo Effit Urbanic’ marks HL D&I Hanla’s launch of a new premium residential brand ‘Effit’ after 27 years since ‘Hanla Vivaldi,’ and it is the first complex introduced under this brand in Seoul. The model house is planned to be located near the northern end of Hangang Bridge in Yongsan-gu, Seoul.