Boosted by Cheongnyangni Development, Prices Jump 200 Million Won in 4 Months... Even Buyers from Gangnam Are Interested [Apartment Talk Talk]
Published 08 Mar.2026 09:00(KST)
Updated 09 Mar.2026 07:39(KST)
Cheongnyangni Transportation Boost and Redevelopment in Imun and Hoegi
Imun I'Park Xi Attracts a Surge of Young Couples
When you get off at Hyehwa University Station in Dongdaemun-gu, Seoul, the first thing you notice between the soundproof walls is a brand-new apartment building. As you exit from Exit 1 of the aboveground platform, a university town unfolds, lined with fast-food restaurants and cafes. If you turn your head to the right, you will see Imun I-Park Xi, which you just passed by in the station.
The exterior of Imun I-Park Xi Complex 1 and the commercial area located a 2 to 3-minute walk from H외대앞 Station. Photo by Minji Lee.
원본보기 아이콘"People said 10 billion won for 59㎡ was too expensive"... Sales prices now at 1.5 to 1.6 billion won
Imun I-Park Xi, which began move-ins in November last year, failed to fill its quota of first-priority applicants at the time of subscription. The main reason cited was that its sale price was about 200 million won higher than the nearby Raemian La Grande, which had been released about six months earlier. The average sale price for this apartment was 35.5 million won per 3.3㎡, with the 59㎡ units reaching up to 1,008.92 million won and the 84㎡ units up to 1,302.29 million won. Due to the high sales price burden, some types of both the 59㎡ and 84㎡ units were undersubscribed in the first round.
However, the atmosphere changed as move-in approached. Recently, the asking price for the 59㎡ units at Imun I-Park Xi has risen to an average of 1.6 billion won, while the 84㎡ units are around 1.9 billion won. For some listings, the latest actual transaction for a 59㎡ unit has been confirmed at 1.5 billion won. Considering that units were traded for the high 1.2 billion won range in October last year, this is an increase of more than 200 million won in just four months.
Despite the controversy over high sales prices, the market believes that the price increase reflects expectations regarding the redevelopment projects in the Dongdaemun area and the development of Cheongnyangni. Large-scale new complexes are being built as redevelopment progresses in the Imun and Hoegi areas, which used to be old residential districts. So far, complexes that have been supplied include Raemian La Grande (3,069 units), which redeveloped Imun District 1, Imun I-Park Xi Complex 3-1 (4,169 units), and Imun I-Park Xi Complex 3-2 (152 units). The construction of Imun District 4 is scheduled to begin next year.
Cheongnyangni, located just two subway stops away, is emerging as a key transportation hub in northeastern Seoul due to the expansion of regional transport networks. Currently, the Suin-Bundang Line, Gyeongui-Jungang Line, Gyeongchun Line, and Line 1 all pass through, and with the planned introduction of the GTX C and B lines, accessibility to Gangnam, Seoul Station, and Yongsan is also expected to improve.
An agent at a nearby real estate agency said, "It's a rare flat residential area in the Dongdaemun district, making it convenient for daily life, and the concentration of new complexes attracts many inquiries from young couples. Especially since Cheongnyangni is nearby, there is high demand from office workers." Another local agent noted, "Although it's difficult to get a loan now that the price has exceeded 1.5 billion won, inquiries remain steady. There are also cases where people who had lived in Gangnam on a jeonse deposit are now making cash purchase inquiries here, attracted by the area's development potential."
From academies to clinics inside the commercial area·Premium educational environment expected
Imun I-Park Xi consists of three complexes in total. Complexes 1 and 2 stretch between Hyehwa University Station and Sinimun Station. The surrounding area is well equipped with essential amenities for daily life. It also provides an educational environment attractive to households with school-aged children. Several universities are clustered around the complex, including Hankuk University of Foreign Studies, Kyung Hee University, Korea National University of Arts, and University of Seoul, and the Kyung Hee Educational Foundation operates middle and high schools nearby.
Looking at the complexes individually, Complex 1 includes both officetels and commercial buildings, and is close to the busy university district centered around Hankuk University of Foreign Studies. Cheongnyang Elementary School is located 15 to 20 minutes away on foot. The commercial area is also substantial; about 300 shops are planned, with clinics, academies, cafes, and other lifestyle facilities expected to open.
Complex 2 is somewhat separated from the main commercial area. Imun Elementary School is about five minutes away on foot. Complex 3 is located about 15 minutes' walk from Complexes 1 and 2, at the foot of Cheonjangsan, and is scheduled for move-in this May. A local agent said, "All the commercial units have sold out, and once clinics, academies, and cafes open, the complex will function as a self-sufficient living zone. The proximity to schools is also boosting interest among young couples."
Inside the complex, there are community facilities such as 'mom cafes' and senior lounges, as well as children's play areas throughout. Parents and children with strollers were commonly seen walking inside the complex, creating an atmosphere with many young families with small children.
However, traffic congestion remains an issue. At 5 p.m. on Friday, a line of cars was seen stretching along the roads around Hyehwa University Station, causing ongoing jams. To improve traffic conditions following the influx of new residents, a new road is being constructed along Imun-ro between Complexes 1 and 2, though construction is still underway. Nearby agencies expect that once the development of Imun District 4 is completed and road work is finished, traffic conditions in the area will also improve.
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