Reconstruction Investment Demand Shifts to Commercial Properties... 750 Million KRW for 1.5 Pyeong at Over 30-Year-Old Dogok-dong Woosung Shopping Center

Investment demand for reconstruction in the Gangnam area of Seoul is flowing into commercial spaces within apartment complexes. In the case of commercial spaces within complexes, buyers can receive pre-sale rights when the apartment is reconstructed.

A panoramic view of the surrounding apartments from the Lotte World Tower Sky Observatory in Songpa-gu, Seoul. / Photo by Dongju Yoon doso7@

On the 16th, real estate platform Zigbang analyzed this year's sales transactions of commercial spaces within complexes and found that the top 10 highest-priced sales were all located in Gangnam-gu, Seoul.

The most expensive commercial space within a complex was Woosung Shopping Center in Dogok-dong, Gangnam-gu, where a basement unit of 5.09㎡ was sold for 750 million KRW in August. This amounts to 147.35 million KRW per square meter. The second highest was another basement unit of 5.12㎡ in the same Woosung Shopping Center, also sold for 750 million KRW, recording 146.48 million KRW per square meter.

Among the top 1 to 10, Woosung Shopping Center accounted for 5 units, Miseong Shopping Center for 1 unit, and Sangnoksu complex commercial spaces accounted for 4 units. Their common characteristic is that these commercial spaces are located within apartment complexes that are over 30 years old.

In Incheon and Gyeonggi, the most expensive commercial space per square meter this year was a basement unit of 9.22㎡ in the Byeoksan Apartment complex in Anyang-dong, Manan-gu, Anyang-si, Gyeonggi, sold for 230 million KRW. The price per square meter was 24.95 million KRW. Next was a first-floor commercial space of 17.40㎡ in the 67 Geonyeong Apartment complex in Bundang-dong, Bundang-gu, Seongnam-si, sold for 425 million KRW (24.43 million KRW per square meter).

Similar to Seoul, among the top commercial spaces per square meter sold this year in Incheon and Gyeonggi, five were located within apartment complexes over 30 years old. Expectations for reconstruction are reflected in the transactions of commercial spaces within complexes in the metropolitan area as well.

In the provinces, the most expensive commercial space per square meter this year was a basement unit of 9.02㎡ in Daewoo Marina Apartment in U-dong, Haeundae-gu, Busan. The total sale price was 260 million KRW, which is about 28.82 million KRW per square meter. However, except for this case, other commercial space transactions within complexes were mainly for rental income purposes rather than reconstruction investment.

A Zigbang official said, "The top-priced commercial spaces within complexes in the metropolitan area show strong investment purposes through securing reconstruction shares," adding, "This investment pattern is not active in other regions, showing differentiated characteristics by region."

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