"Strong Despite Recession" Highlighting Advantages of Han Riverfront Apartments Sparks Interest in New Complexes like 'Brighton Yeouido'

- High Scarcity Han Riverfront Apartments Show Clear Downside Rigidity Despite Market Slump
- Great Han River Project and Other Large-Scale Development Boons Raise Future Value Expectations

Riverside apartments along the Han River are showing a different trend despite the real estate market downturn. Even amid the ongoing real estate slump caused by factors such as rising interest rates, these properties are exhibiting a trend contrary to the market situation due to their high scarcity.

This can be confirmed by actual statistics. According to the Ministry of Land, Infrastructure and Transport's real transaction price disclosure system, the ‘Acro Seoul Forest’ complex located in Seongsu-dong, Seongdong-gu, which moved in November 2020, recorded an actual transaction price of 6.2 billion KRW last month for a 159㎡ (formerly 60 pyeong) unit. This translates to about 103 million KRW per 3.3㎡. Despite the market showing mixed trends, the price per 3.3㎡ remains at 100 million KRW.

On the other hand, the real estate market is on a downward trend. According to the Korea Real Estate Board, the apartment sales price index in Seoul has declined for 45 consecutive weeks from the last week of May last year (104.08) to the first week of this month (92.99). During this period, the total decline reached 10.65%.

Despite this decline, complexes located along the Han River demonstrate strengths even during the real estate market slump, which is attributed to their scarcity. Additionally, the ongoing concretization of large-scale development projects along the Han River adds to the positive expectations.

Last month, Seoul City announced the ‘Great Han River Project’ and completely abolished uniform floor regulations such as the ‘35-floor rule,’ which had been a major obstacle for redevelopment projects along the Han River. The plan is to diversify the skyline of residential areas along the Han River, including the introduction of super high-rise complexes. Leading this initiative are the Yeouido pilot project (up to 65 floors), followed by Yeouido Hanyang (up to 54 floors) and Jamsil Jugong Complex 5 (up to 50 floors).

This is why there is growing interest in the landmark complex being newly supplied in Yeouido for the first time in 18 years. Yeouido MBC Site Complex Development PFV (Shinyoung Co., Ltd., GS Construction Co., Ltd., NH Investment & Securities Co., Ltd.) will lease the ‘Brighton Yeouido’ apartment complex this month at 31 Yeouido-dong, the former site of Yeouido MBC. The complex consists of two apartment buildings, one officetel building, and one office building. The apartments available for lease range from basement level 6 to ground level 49, with exclusive areas of 84 to 132㎡, totaling 454 units. GS Construction is responsible for the construction.

The number of units by exclusive area is △84㎡ with 91 units, △101㎡ with 91 units, △113㎡ with 181 units, and △132㎡ with 91 units, all configured as medium to large-sized 4Bay layouts, which are highly preferred.

Brighton Yeouido offers Han River views from some units and boasts abundant green spaces along the Han River and Saetgang in Yeouido.

Additionally, it is located in a double subway station area between Yeouido Station on Lines 5 and 9 and Yeouinaru Station on Line 5, with the Yeouido Transfer Center connecting to the entire metropolitan area within walking distance. Furthermore, access by car is convenient via Olympic-daero and Gangbyeonbuk-ro.

The Brighton Yeouido model house is scheduled to open later this month.

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