Seoul Apartments Up 1.5% This Year... 'Seoul One I-Park' to Launch in November

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Seoul apartment sale prices have recorded a 1.49% increase this year alone, raising expectations for the new housing market, with demand focused on the largest upcoming project in Seoul’s housing market this year, ‘Seoul One I-Park’.

According to data from Real Estate 114, the nationwide apartment sale price increase per 3.3㎡ from January to September this year was 0.86% (20.84 million KRW → 21.02 million KRW).

Looking at the regional increase rates during the same period, five regions saw price rises, led by Seoul at 1.49% (40.45 million KRW → 41.06 million KRW), followed by ▲Gyeonggi 1.06% (18.59 million KRW → 18.79 million KRW) ▲Incheon 0.37% (13.54 million KRW → 13.59 million KRW) ▲Gangwon 0.27% (7.35 million KRW → 7.37 million KRW) ▲Jeonbuk 0.13% (7.99 million KRW → 8.00 million KRW).

Seoul’s price increase was particularly notable, accompanied by a strong subscription market. According to Real Estate 114 data, Seoul recorded 429,239 subscription applications for 2,983 general supply units this year, resulting in a first-priority competition rate of 143.43 to 1. This is a significant increase compared to last year’s first-priority subscription competition rate of 56.96 to 1 in Seoul.

With the rapid recovery of the real estate market and the growing momentum in the new housing market, the largest upcoming project in Seoul’s housing market this year, ‘Seoul One I-Park,’ is attracting the attention of buyers ahead of its launch.

‘Seoul One I-Park,’ supplied by HDC Hyundai Development Company through the Gwangwoon University Station area development project, will be built on approximately 77,586㎡ of land, comprising a total of 3,032 units including 1,856 sale-type apartments, 408 public rental units, and 768 residence units. In November, 1,856 apartments in six buildings ranging from four basement floors to 47 floors above ground, with exclusive areas of 59 to 244㎡, will be offered for sale. The ‘Seoul One Wellness Residence’ will consist of two buildings with up to 49 floors and 768 units.

The name ‘Seoul One’ signifies a vast circle encompassing life. It represents a grand scope that captures Seoul’s future value, aiming to supply a single town that includes all elements of life within a 1 km radius, according to HDC Hyundai Development Company. The approximately 150,000㎡ circle will include residential spaces, hotels, shopping malls, and offices, allowing residents to enjoy a new era of life culture at Seoul One.

‘Seoul One I-Park’ is supplied through the Gwangwoon University Station area development project, with a project cost of approximately 4.5 trillion KRW. This project involves relocating a large-scale logistics facility located between Gwangwoon University Station and Seokgye Station in Nowon-gu, Seoul, and developing a large-scale shopping mall and residential complex.

HDC Hyundai Development Company, responsible for the project development, plans to create a future-oriented urban area where people, nature, and the city environment coexist. This is Korea’s first and Seoul’s largest large-scale project integrating residential, cultural, business, tourism, and medical sectors in one place, raising expectations that it will become a landmark representing the northeastern region of Seoul.

The project’s partnerships include HDC Hyundai Development Company as the constructor, along with CGV, Kakao Mobility, Snow Peak, Seoul Asan Medical Center, Korea University, and others, providing residents with rich and high-quality living infrastructure across education, culture, and leisure.

Adjacent to the complex, the commercial and business site will host Seoul One Life Culture Mall (tentative name), the largest shopping center in the area, and the region’s first global 5-star hotel. A CGV cinema featuring fitness facilities and the area’s first IMAX theater will also be established. Additionally, key anchor facilities will be located in the street mall developed in connection with the commercial and business facilities, offering abundant cultural and leisure infrastructure within the complex.

Moreover, Gwangwoon University Station, adjacent to the complex, offers transportation access not only to Line 1 but also Lines 6 and 7. The future GTX-C line is planned to be introduced, which will connect Gwangwoon University Station to Gangnam (Samseong Station) in just 9 minutes once opened. Road access is also excellent via Dongbu Expressway and the Internal Circular Road.

‘Seoul One I-Park’ applies smart premium features within the complex to provide residents with a diverse and convenient living environment. Smart premium includes an interactive AI home assistant system, independent communities for every two buildings, and advanced facilities enabling food waste disposal on each floor. Plans also include Korea’s first Asan Medical Center customized healthcare solutions and the introduction of the country’s top premium fitness platform (planned).

Additionally, the complex has signed a business agreement with Korea University and the local community for lifelong education and youth career development. Public land will include convenience facilities for residents such as a cultural hub library and a youth career center.

A sales official stated, “As Seoul One pursues a value completed as one, we will present a premium residential space never seen before to buyers. In particular, as a residential facility that fully benefits from the Gwangwoon University Station area development, it is expected to establish itself as a landmark complex representing Seoul in the future.”

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