Due to the surge in apartment prices, officetels have also risen, with a large number scheduled for sale this summer

Major Officetel Complexes for Sale in July and August

As apartment prices soar, officetel prices are also continuing their rapid rise as an 'alternative,' with a large number of officetel units expected to be supplied this summer.

According to Real Estate 114 on the 17th, a total of 9,115 officetel units across 26 complexes will be supplied nationwide in July and August. This represents a 23.8% increase compared to the same period last year and is the largest supply volume since 2017.

By region, the supply is ▲Seoul 1,458 units ▲Gyeonggi-do 5,046 units ▲Incheon 572 units ▲Daegu 302 units ▲Gwangju 1,050 units ▲Chungnam 637 units ▲Chungbuk 50 units, among others.

With real estate regulations and bank loan restrictions tightening, making it difficult to purchase a home, demand is flocking to officetels, which are relatively free from such regulations.

According to the Korea Real Estate Agency's Subscription Home, the 'The Sharp Songdo Ark Bay' officetel in Yeonsu-gu, Incheon, which was supplied in April, attracted a total of 68,653 applications for 255 units, recording an average competition rate of 269.23 to 1. The 'Guri Station The Live Dwell' officetel in Guri-si, Gyeonggi-do, supplied in June, also saw 23,884 applications for 78 units, with an average competition rate of 306 to 1.

Kwon Gang-su, director of the Korea Startup Real Estate Information Center, said, "Since real estate regulations have been concentrated on apartments and the rise in apartment sale and jeonse prices has been prominent, demand is flocking to officetels, which have a relatively lower entry barrier. Especially this summer, a large number of residential officetels that can substitute small apartments will be supplied in popular subscription areas such as Gwangmyeong New Town and Dasan, which have excellent access to Gangnam. Therefore, demand is expected to concentrate mainly among younger generations with low subscription scores."

Meanwhile, as apartment prices in the metropolitan area have risen sharply and the jeonse shortage continues, officetel sale prices are also increasing. According to the Korea Real Estate Board, as of the second quarter of this year, officetel prices in the metropolitan area rose by 0.43% compared to the previous quarter, expanding the increase from 0.31% in the first quarter.

In the metropolitan area, prices shifted from -0.26% in the second quarter of last year to 0.02% in the third quarter, then rose to 0.10% in the fourth quarter, 0.31% in the first quarter of this year, and 0.43% in the second quarter, showing three consecutive quarters of increasing growth.

The Real Estate Board explained, "In Seoul, due to the rise in apartment prices, demand has flowed into medium- to large-sized officetels that can serve as substitutes and officetels near subway stations with excellent transportation convenience, leading to an increase in sale prices."

Officetel transactions are also active. In the first half of this year (January to June), the volume of officetel sales transactions was 16,520 cases, a 25% increase compared to 14,191 cases in the same period last year.

This content was produced with the assistance of AI translation services.