Development Site Near Hapjeong Station Released for Sale

[Asia Economy Reporter Kim Min-young] A large-scale development site, rarely found in Mapo-gu, Seoul, has been put up for sale.

According to the real estate industry on the 25th, three parcels of land including 414-3 Hapjeong-dong, Mapo-gu, have been listed for sale. The site spans the area around exits 5 and 6 of Hapjeong Station, with a land area of 2,850.4㎡ (862.2 pyeong). This large development site, rare in the core area of Mapo-gu, Seoul, was removed from the special planning zone (Zone 9) at the end of last year, making development easier. It can be developed with a floor area ratio of over 600%.

Hapjeong Station is a key location within Mapo-gu. It is convenient to access major business districts such as Gwanghwamun, City Hall, Euljiro, Sangam, and Yeouido via Subway Lines 2 and 6. It is also close to Seoul’s core commercial areas like Hongdae, Hapjeong, Mangwon, and Sangsu. The site also offers good regional accessibility with easy access to KTX Yeongdeungpo Station and Yongsan Station.

In particular, the area where the property is located is at the intersection of Yanghwa-ro and World Cup-ro, which have high pedestrian traffic, so it is expected to have excellent advertising effects if developed into office, commercial facilities, or company headquarters. If an office is developed on this site, approximately 450 pyeong of exclusive use area per floor can be secured.

The market situation near Hapjeong Station is also favorable. According to the industry, the general commercial area around Hapjeong Station recently traded at about 200 million KRW per 3.3㎡ based on land price. The office vacancy rate in the Yeouido and Mapo areas is also 5.5%, the lowest level since 2009. The brokerage for this Hapjeong-dong site sale was handled by RSquare.

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