Yeongdeungpo Old Apartment Rate 66.3%... "Welcome, Yeongdeungpo Xi Dignity"

- High Preference for New Apartments in Areas Dense with Old Apartments... Impact of Shortage in New Supply and Evolving Designs
- Over 60% of Apartments in Yeongdeungpo-gu Are Old... Last Year’s New Complex Recorded 199 to 1 Competition Ratio

Despite the overall downturn in the real estate market, the preference for new apartments remains strong in areas densely populated with aging housing. This is because the demand for upgrading is abundant due to the shortage of supply, and the design of both the interior and exterior of complexes continues to evolve, promising high residential satisfaction. Such areas also have a high likelihood of active redevelopment and reconstruction projects.

According to an analysis of data from Real Estate R114 on the 16th, among the 1,826,623 apartment units in Seoul, 1,061,914 units, or 58.1%, are apartments that have been completed for more than 20 years. This means that one out of every two apartments in Seoul is an aging apartment.

[Yeongdeungpo Xi Dignity Perspective / Photo by GS Construction]

In particular, Yeongdeungpo-gu in Seoul has aging apartments over 20 years old accounting for 66.3% (48,798 units) of the total apartment supply (73,597 units), far exceeding the Seoul average.

However, in the past three years, only 156 general sale apartments have been supplied in Yeongdeungpo, all of which were from the ‘Centreville Asterium Yeongdeungpo’ launched in February last year. As a result, Centreville Asterium Yeongdeungpo recorded the highest subscription competition rate among apartments sold last year, with 11,385 applicants competing for 57 units excluding special supply, averaging 199.74 to 1.

Given this situation, interest is high in ‘Yeongdeungpo Xi Dignity,’ which is being sold this month through the redevelopment of Yangpyeong 12 District in Yeongdeungpo-gu. The Yangpyeong-dong area, including Yeongdeungpo Xi Dignity, is undergoing active redevelopment projects and is considered a region with high future value.

Yeongdeungpo Jungheung S-Class (308 units), located in front of the complex, was occupied in March 2021 as part of the Yeongdeungpo Machinery Market redevelopment project, and Shindonga Apartments (495 units) received approval for association establishment in December 2020 and are currently undergoing reconstruction. Nearby Yangpyeong 13 and 14 Districts were selected as first candidates for Seoul’s public redevelopment, raising development expectations.

Yeongdeungpo Xi Dignity is a super-station area apartment adjacent to Yangpyeong Station on Seoul Subway Line 5. Yeongdeungpo-gu Office Station, which allows transfer to Line 2, is just one stop away from Yangpyeong Station, Mokdong Station, famous for its academy district, is two stops away, and Yeouido Station, home to many global IT and financial companies, is four stops away. Notably, Yeouido Station is expected to be served by the planned GTX-B line (Metropolitan Express Railway) and the upcoming double-track Shinansan Line, enabling even faster travel across the metropolitan area once opened.

The living infrastructure is also abundant. Large marts such as Lotte Mart (Yangpyeong branch) and Costco (Yangpyeong branch) are within walking distance, and E-Mart and Homeplus are also nearby. Within a 2 km radius, there are Hyundai Department Store, Lotte Department Store, Shinsegae Department Store, Ewha Mokdong Hospital, and Mokdong Sports Complex, providing access to various convenience and cultural facilities. Sports facilities along the Anyangcheon Stream are also easily accessible.

Educational facilities include Dangjung Elementary School, Mullae Middle School, Yanghwa Middle School, and Gwanak High School, and the Mokdong academy district across Omokgyo is conveniently accessible.

A sales representative stated, “Yeongdeungpo is an area densely populated with aging apartments, so infrastructure such as transportation, education, and shopping facilities is already well established, making it a highly convenient and preferred residential area. Among these, Yangpyeong-dong is actively undergoing redevelopment but is still an undervalued area with high future value, attracting interest not only from local homebuyers and those looking to upgrade but also from investors in nearby areas.”

Meanwhile, Yeongdeungpo Xi Dignity plans to open a model house, with occupancy scheduled for the first half of 2026.

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