‘Asty Cabin’ Launched in Songpa-gu, Which Recorded the Highest Office-tel Transaction Volume in Seoul Last Year

Last year, Songpa-gu was identified as the area with the highest volume of officetel transactions in Seoul. It is analyzed that officetel transactions were active due to its proximity to business facility clusters such as the Gangnam Business District (GBD), Songpa, and Munjeong. In particular, Songpa-gu is equipped with several development projects expected to create a large number of jobs, so the booming officetel market in this area is expected to continue.

According to the building transaction status by building use provided by the Korea Real Estate Board, a total of 39,940 officetel transactions were recorded in Seoul last year (January to December). Among them, Songpa-gu (4,476 transactions) ranked first as the area with the most officetel transactions in Seoul last year.

The reason Songpa-gu’s officetel transaction volume draws attention is that it is about 58.8% higher than Gangnam-gu (2,819 transactions), which is known as an area with many officetel transactions in Seoul.

An industry expert said, “Songpa-gu has the geographical advantage of being close to the GBD, and the rent is more reasonable than in Gangnam-gu, so many office workers prefer it.” He added, “In particular, the Lotte World Tower, where some Lotte Group affiliates are located, the legal complex, and Munjeong Biz Valley, which houses a future-oriented business district, are nearby, resulting in abundant demand for officetels, active transactions, and rising prices.”

In fact, officetels located in Songpa-gu boast high prices. According to the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, a 67㎡ unit in ‘Galleria Palace’ located in Jamsil-dong was traded for 1.28 billion KRW in June, setting a new record, and a 59㎡ unit in ‘Songpa I-Park’ located in Munjeong-dong was sold for 900 million KRW in February, up 135 million KRW from a year ago.

Moreover, large-scale development projects such as the Jamsil MICE complex, Songpa ICT Security Cluster, and modernization of Garak Market have entered the main track, and the Wirye-Sinsa Line, connecting Wirye New Town through Samseong Station to Sinsa Station, is scheduled for completion in 2027, so demand for officetels in this area is expected to increase further.

Meanwhile, new officetel supply continues in Songpa-gu, attracting attention. The second project of the brand ‘ASTY,’ recognized for its aesthetic value by winning the iF Design Award, is ‘ASTY Cabin.’

Scheduled for sale in August, ‘ASTY Cabin’ consists of 187 residential officetel units with exclusive areas ranging from 27 to 48㎡, in a building with 8 basement floors and 18 above-ground floors, located in Garak-dong, Songpa-gu, Seoul. The interior of the officetel features an evolved floor plan design to accommodate various lifestyles of one- to two-person households. Despite the small size, some floor plans apply a 3Bay layout to maximize lighting and ventilation, and glass materials are actively used for finishes to enhance openness.

Additionally, aesthetic specialized designs that maximize space utilization are applied, such as wardrobes that can be opened from both sides, hidden kitchens designed to conceal daily life when not in use, and magnetic rail lighting systems that allow easy changes to lighting plans.

The location conditions are also excellent. It is within walking distance of Garak Market Station, a transfer station between Seoul Subway Line 3 and Line 8, and the Wirye-Sinsa Line connecting Samseong Station and Sinsa Station is under construction with a target completion in 2027. Using Songpa-daero adjacent to the complex, one can quickly access major business districts such as Munjeong-dong Legal Town, Jamsil, and Gangnam. Also, using Jamsil Bridge, access to Seongsu-dong, a rising business district with many startup companies, is convenient.

‘ASTY Cabin,’ supplied as a residential officetel, applies a fixed acquisition tax rate of 4.6%, unlike apartments where acquisition tax is increased based on the number of owned houses. It is also free from various regulations such as funding plan reports, actual residence obligations, and re-winning restrictions, making it attractive not only to actual users but also to investors.

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