Double Station Area Complex "Sangdo Hills The One" Draws Attention

- Supply of Highly Sought-After Double Station Area Apartments Imminent in Seoul
- Option to Convert to Ownership at Reasonable Prices

In the real estate market, so-called "double station area" apartments, which offer access to two or more subway lines, are emerging as a guaranteed ticket to success. In particular, as polarization and uncertainty in the housing market increase, the value of properties located near subway stations is attracting even more attention.

The high level of convenience provided by subway access continuously drives demand for rental properties, such as jeonse and monthly rentals. During periods of rising home prices, this convenience acts as a powerful catalyst for price increases, making proximity to subway stations one of the most preferred location factors among investors.

According to the "Real Estate Trend 2024: Preferred Housing Types" survey released last year by Gallup Korea, 52% of respondents selected "transportation convenience" as the most important factor when deciding on their current residence. This result reflects that preference for transportation surpassed other factors such as living convenience facilities (40%) and educational environment (17%).

Among transportation-related factors, the value of "double station area" or "multi station area" apartments, where residents can access two or more subway lines near their homes, is rising rapidly. Last year, among newly launched apartment complexes in the Seoul metropolitan area, those located within a 500-meter radius of a subway station recorded an average first-priority competition ratio of 55:1. This figure is more than six times higher than the 9:1 ratio for non-station area apartments. Among these, locations with access to two or more subway lines saw the average first-priority competition ratio soar to 155:1.

An industry insider commented, "Double station area complexes in Seoul, where new apartment supply is limited, have extremely high scarcity and future value," adding, "Those hoping to successfully purchase a home or invest should pay special attention to complexes near subway stations."

In Sangdo-dong, Dongjak-gu, Seoul, "Sangdo Hills The One," a complex with double station area premium, is expected to be launched in earnest. The complex will consist of 459 units with exclusive areas ranging from 59 to 84 square meters. Residents will be able to live stably for 10 years at reasonable prices, and later have the option to convert to ownership, making it a highly attractive offering.

Residents will have easy access to Sangdo Station on Subway Line 7, located within an eight-minute walk. In addition, the Seobu Line light rail "Shinsangdo Station" is scheduled to open in 2030 right nearby. The Seobu Line light rail will cover a 15.6-kilometer section from Saejeol Station (Line 6) in Eunpyeong-gu to Seoul National University Station (Line 2) in Gwanak-gu, with transfer connections to Seoul Subway Lines 1, 2, 6, 7, and 9. Currently, traveling from Saejeol Station to Seoul National University Station takes about 36 minutes with one transfer, but once the Seobu Line opens, the journey will take only about 22 minutes without any transfers.

Residents will also enjoy convenient access to lifestyle amenities, including Lotte Department Store, Lotte Cinema, Emart, Seoul Boramae Hospital, and Chung-Ang University Hospital. The area is also home to prestigious educational institutions such as Shinsangdo Elementary School, Jangseung Middle School, Guksabong Middle School, Yaksu Library, Dongjak Library, Guksabong Library, Chung-Ang University, and Soongsil University, providing a robust educational infrastructure.

Sangdo Hills The One will be supplied as a "development-investment type private rental apartment." This new business model combines general sale housing with jeonse-type rental housing. The project developer establishes a non-profit voluntary association and recruits members. Members can choose to purchase the apartment at the conversion price after residing for the mandatory rental period (10 years), or receive a 100% refund of their deposit.

Additionally, with a professional developer leading the project, rapid progress is possible. Market preference for development-investment type private rental apartments is also growing due to their stability and efficiency. End-users can expect principal protection as well as the possibility of realizing capital gains, making this an attractive new housing alternative.

A project official stated, "Anyone aged 19 or older residing anywhere in the country can apply, and even those without a subscription savings account can win through a lottery system," adding, "Winners are free to resell their rights without any resale restrictions."