The Top 1% Wealthy Live Here... Dosan-daero vs Eonju-ro, Who Wins the Land Price Battle?

- Famous Celebrities Also Inherit Properties on Dosan-daero Il-dae
- Some Units of 'Lucia Dosan 208' Officetel, Housing for the 1%, Now Available for Sale

Dosan-daero and Eonju-ro, located in Gangnam, South Korea, are representative roads of Gangnam. This area is a premier affluent neighborhood in the country, equipped with various office and commercial facilities as well as top residential amenities.

Dosan-daero is a boulevard stretching about 3 km from Sinsa Station on Seoul Subway Line 3 to the southern end of Yeongdong-daero, while Eonju-ro is a 10.8 km boulevard extending from the southern end of Seongsu Bridge to the Yangjae-daero intersection. Dosan-daero is considered one of the wealthiest neighborhoods, bordering Garosugil and Cheongdam-dong, and Eonju-ro also includes Apgujeong Rodeo Street, Yeoksam-dong, and Dogok-dong, making it consistently recognized as an affluent area.

[Dosan-daero View, Source: Gangnam-gu Office YouTube]

Among the affluent areas in Gangnam, which has the higher land price, the ‘real’ affluent area along Dosan-daero or Eonju-ro? According to the Ilsapyeonri Seoul Real Estate Information Inquiry System, the individual official land price of the Shinsegae International building (Dosan-daero 449) on Dosan-daero was recorded at 118.14 million KRW per 3.3㎡ last year. The individual official land price of Anobly81 officetel (Dosan-daero 419), also located on Dosan-daero, reached 127.34 million KRW per 3.3㎡.

On the other hand, the individual official land price of N Officetel (Eonju-ro 626) on Eonju-ro was 61.54 million KRW per 3.3㎡, about half the land price of Dosan-daero. The individual official land price of D Residential Complex (Eonju-ro 427) near Yeoksam Station and Seolleung Station on Seoul Subway Line 2 was also cheaper at 100.21 million KRW per 3.3㎡ compared to Dosan-daero.

An industry insider said, “Both Dosan-daero and Eonju-ro in Gangnam are considered affluent neighborhoods, but when looking at the official land prices, which can be seen as a barometer of location value, real estate near Dosan-daero is evaluated at a higher value than Eonju-ro. Especially for Dosan-daero, with the upcoming Wirye-Sinsa Line construction starting next year, the location value is expected to increase further.”

In particular, Dosan-daero attracts large sums of money from celebrities and ‘celebrities.’ It is already a region favored by famous people. It is known that Girls’ Generation’s Yoona, Big Bang’s Daesung, and actor Hwang Jung-min have purchased high-priced villas in the area. PH129 (formerly The Penthouse Cheongdam), located at the southern end of Yeongdong Bridge where Dosan-daero ends, is famous for residents such as celebrity couple Jang Dong-gun and Go So-young, and star math instructor Hyun Woo-jin. The official price for a 407㎡ unit in this apartment is expected to be around 16.3 billion KRW this year, ranking first nationwide. PNPOLUS (SM Entertainment Chairman Lee Soo-man), Anobly81 (Xiah Junsu), and others have also attracted attention from celebrities.

A real estate agent in Cheongdam-dong said, “There are actually many more celebrities, politicians, and businesspeople living here. It’s just that due to security concerns, this information is not widely publicized.”

[Perspective view of Lucia Dosan 208 located on Dosan-daero]

Luxury housing sales for the top 1% in the core area of Dosan-daero are also progressing smoothly. This is ‘Lucia Dosan 208,’ constructed by DL Construction (formerly Daelim Construction) on Dosan-daero. The 55 urban lifestyle housing units are priced at up to 1.5 billion KRW but were sold out early. Currently, some officetel units (52?60㎡, total 37 units) are available for sale.

The product value befitting luxury housing is also notable. Inside the officetel, a ceiling height of up to 2.8 meters and a 9-meter ultra-wide LDK (Living, Dining, Kitchen) design are introduced to secure a sense of openness. As a luxury residential product, it features top imported furniture and appliances such as Arclinea, Rimadesio, and GAGGENAU, paying close attention to interior details. It also boasts Korea’s first anti-pollution and antibacterial ceramic building materials for home therapy.

Customized residential services reflecting VVIP needs also attract attention. Plans include valet parking, housekeeping, laundry, porter, and car wash services. Security services will also be introduced to ensure safe living conditions for residents.

Transportation benefits are also anticipated, making future prices certain to rise. The Wirye-Sinsa Line, connecting Gangnam’s Sinsa Station on Line 3 and Wirye New Town, will begin construction in 2022 and open in 2027. Upon completion, Eulji Hospital Station will be newly established, transforming the complex into a super-station area.

A real estate investment expert said, “The Dosan-daero area has higher future value than Eonju-ro, so word of mouth has spread quietly, and the sale of housing complexes continues to be sold out. Due to its rarity, prices after moving in are extremely high. Recently, the number of young wealthy individuals, or ‘young rich,’ has greatly increased, expanding the demand spectrum significantly.”

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