High Scarcity Seoul Station Area 'Olympic Park Seohan Forest' Supply

This year as well, the popularity of areas near subway stations is prominently evident in the housing market. This is because demand for a ‘smart single home’ has increased amid growing market uncertainties.

In the real estate market, proximity to subway stations is considered a key location factor with high residential preference. This is due not only to convenient transportation but also to the influx of floating populations such as subway users, which creates vibrant commercial districts and expands various living infrastructures in the surrounding areas.

As a result, apartments near subway stations are clearly popular in the subscription market as well. According to data from Real Estate R114, among the top 20 apartment complexes with the highest subscription competition rates in the metropolitan area from January to July this year, 16 complexes were located within a 10-minute walk to a subway station (including planned stations).

For example, ‘Raemian Onepentas,’ which was offered for sale in Banpo-dong, Seocho-gu, Seoul in July, is an apartment complex located right in front of Sinbanpo Station on Line 9, a prime subway station area, and recorded a first-priority subscription competition rate of 527.3 to 1, successfully closing the subscription. In the same month, ‘Sanseong Station Heriston’ in Sanseong-dong, Sujeong-gu, Seongnam-si, Gyeonggi Province, an apartment near Sanseong Station on Line 8, attracted attention and completed its first-priority subscription with an average competition rate of 30.6 to 1.

In Seoul, subway stations are located throughout the city, making it relatively easy to find apartments near subway stations. However, paradoxically, because there are many subway station areas, apartments not near subway stations tend to have significantly lower preference.

According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, ‘Centras’ in Ha Wangsimni-dong, Seongdong-gu, Seoul, an ultra-subway station area apartment connected to Sangwangsimni Station on Line 2, was sold this month for 1.795 billion KRW for an 84㎡ unit. In contrast, an 84㎡ unit in ‘W Apartment,’ located about a 15-minute walk from Sangwangsimni Station, changed hands for 1.19 billion KRW, more than 600 million KRW lower.

Even within the same complex, price differences occur depending on the distance to the station. ‘Godeoksoop I-Park’ in Sangil-dong, Gangdong-gu, Seoul, shows a price difference of over 100 million KRW in real transaction prices depending on the time required to reach Sangil-dong Station.

An industry expert said, “In Seoul, traffic congestion is severe, and most places are accessible by subway, so proximity to subway stations is very important. On the other hand, because there are many subway stations, apartments not near stations tend to have lower preference, resulting in quite significant price differences. The value is even higher if the location offers convenient access to the three major business districts in Seoul: Gangnam, Yeouido, and the city center.”

Meanwhile, a highly preferred apartment near Seoul Subway Line 5 is scheduled to open its model house on September 6.

The spotlight is on ‘Olympic Park Seohan Forest,’ an ultra-subway station area complex developed near Dunchon-dong Station, marking Seohan’s first supply within downtown Seoul, attracting industry attention.

Olympic Park Seohan Forest is located in Dunchon-dong, Gangdong-gu, Seoul, and will be developed as an apartment complex with 128 units ranging from 49 to 69㎡, spanning from 7 basement floors to 20 above-ground floors. Of these, 109 units will be sold to the general public, and 19 units will be supplied as rental housing. It mainly offers mid- to small-sized units preferred by buyers, with diversified floor plans to expand options.

Olympic Park Seohan Forest is an ultra-subway station area complex located about a 4-minute walk from Dunchon-dong Station on Seoul Subway Line 5. Using Yangjae-daero and Cheonho-daero, residents can conveniently reach major areas in Seoul such as Gangnam within about 30 minutes. Additionally, it boasts a safe educational environment with eight elementary, middle, and high schools and a cluster of academies within a 1 km radius.

In particular, it is close to large parks such as Olympic Park, Iljasan Urban Nature Park, Iljasan Herb Astronomy Park, and Gangdong Greenway Family Camping Site, making it ideal for leisure and hobbies. Furthermore, abundant green spaces such as Gildong Park, Gildong Natural Ecology Park, Gwangnaru Hangang Park, and Seungsangsan are located nearby, enhancing residential comfort.

Meanwhile, before the model house opening, ‘Olympic Park Seohan Forest’ offers a consonant quiz event and sales information through its official website. More detailed information about the ‘Olympic Park Seohan Forest’ site can be found via the main phone number and official website.

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