Office-tel Boom... Spotlight on 'Giselle Lifegraphy Seocho'

원본보기 아이콘

As soaring apartment prices increase housing burdens, the officetel market, which had been sluggish for a while, is now reviving. Industry experts analyze that the rise in apartment prices has pushed demand for more affordable properties toward officetels. The increase in apartment monthly rent and lease prices has stimulated officetel purchases.

According to the Korea Real Estate Board, the Seoul officetel sales price index rose by 0.03% in August compared to the previous month, marking a turnaround to an upward trend. Officetel prices had been declining for 23 consecutive months since August 2022, but since July this year, the downward trend stopped and stabilized, entering an upward trend for the first time in two years.

A representative from the Real Estate Board explained, "Demand for residential real estate is increasing," adding, "Recovery is seen mainly in officetels near subway stations, which are popular among office workers."

Given this situation, there is growing interest in luxury officetels currently being sold in the Gangnam area. ‘ZIZEL LIFE GRAPHY SEOCHO,’ located in the Seocho-dong area of Seocho-gu, is receiving many inquiries from young buyers.

Constructed by Duson Construction Co., Ltd., ‘ZIZEL LIFE GRAPHY SEOCHO’ is developed on a land area of 3,048.10㎡, with 6 basement floors and 22 above-ground floors, comprising 399 officetel units. The units are composed of various exclusive areas: Type A 56.42㎡ (105 units), Type A-1 56.42㎡ (42 units), Type B 59.83㎡ (147 units), Type C 69.51㎡ (21 units), and Type D 56.16㎡ (84 units).

The complex features a design divided into two towers that consider pedestrians and the surrounding environment. The first floor has an 8-meter-high arch-shaped pilotis design, with a garden space beneath the arch providing a pleasant street environment. The bridge connecting the two towers includes a large lobby space with a 10-meter ceiling height and a season wall depicting forest scenes, allowing residents to experience nature indoors throughout all four seasons.

The interior offers four types tailored to the lifestyles of 2-3 person households. Each type features designs aligned with the latest residential trends, a 2ROOM, 2BATHROOM layout, and ample storage spaces such as dressing rooms to maximize space efficiency.

Moreover, residents can enjoy wider and more comfortable spaces compared to other officetels. A site official stated, “Following legal revisions earlier this year allowing balconies in officetels, ‘ZIZEL LIFE GRAPHY SEOCHO’ has completed design change approvals to add balconies to some unit layouts to enhance convenience for buyers and is currently under construction.” This addition of service area comes without an increase in sale price, enabling residents to enjoy extra convenience without additional financial burden.

Community facilities for residents include a fitness club, swimming pool, rooftop garden, and a neighborhood living facility with a bakery space seating about 180 people, enhancing both convenience and cost efficiency for residents.

‘ZIZEL LIFE GRAPHY SEOCHO’ is an officetel planned in the ultra-station area of Seocho-dong, Seoul, boasting excellent transportation networks, superior educational environments, and residential convenience as its greatest advantages.

The complex is located within a 5-minute walk to a triple station area served by Seoul Subway Line 3’s Nambu Terminal Station and Lines 2’s Seocho Station and Gyodae Station. It also offers easy access to major transportation routes such as the Gyeongbu Expressway, Seocho IC, and Nambu Sunhwan-ro. Additionally, the planned ‘Gyeongbu Expressway Underground Project’ between Hannam IC and Yangjae IC is expected to alleviate chronic traffic congestion upon completion, further improving the residential environment.

Besides transportation, various infrastructures for daily convenience are densely located around the complex. Nearby are Shinsegae Department Store, the National Library of Korea, Catholic University Gangnam St. Mary’s Hospital, and the Seoul Arts Center, making shopping and daily life convenient. The presence of natural environments such as Umyeonsan Mountain and Seoripul Park adds to the location’s competitiveness.

The complex also boasts a prestigious school district within the ‘Gangnam 8 School District,’ known as one of Seoul’s top academic zones. It is close to schools included in the 8 school district such as Seocho High School, Seoul High School, and Sangmoon High School. In addition to renowned schools, educational and cultural facilities like academies and study rooms are nearby, making it ideal for families with school-age children in their 30s and 40s.

The area’s future value is also promising. The former Intelligence Command site in Seocho-gu is being developed into an eco-friendly cultural and arts complex town. Covering approximately 96,795㎡?equivalent to 13 soccer fields?this project is expected to create about 30,000 jobs and establish a cultural cluster linked with the Seoul Arts Center, Lotte Chilsung and Kolon sites, Seoripul Park, and Saebitseom Island.

Additionally, R&CD developments are underway in the Yangjae, Umyeon, and Gaepo areas. Seocho-gu anticipates that once the Yangjae R&CD Special Zone project is completed, it will generate about 15,000 high-quality jobs for global companies and university researchers.

Currently, the ‘ZIZEL LIFE GRAPHY SEOCHO’ gallery house is located in Seocho-dong, Seocho-gu, and operates by prior appointment only.

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.