Small to Mid-Sized Popular Record High... Should We Try for August 'Cheonggye SK View' Exclusive 59㎡ Winning?

As the popularity of small-to-medium sized apartments continues to rise in Seoul, especially this summer, the supply of small-to-medium sized apartments in key locations such as Seongdong-gu is attracting the attention of buyers.

According to an analysis of apartment transaction trends by Real Estate R114 (Reps) based on data from the Ministry of Land, Infrastructure and Transport, the proportion of transactions for apartments with exclusive area (hereinafter exclusive area) of 60㎡ or less in Seoul last year reached 42.9%, the highest since 2007. This year, the figure continued to rise, recording 43.4% as of May.

Small-to-medium sized areas are also preferred in the subscription market. According to Korea Real Estate Agency’s Subscription Home, the competition rate for apartments of 60㎡ or less in Seoul up to July this year was 74.0 to 1, surpassing the 60~85㎡ category, which recorded 44.6 to 1.

An industry expert said, "Compared to large types, they boast reasonable prices, and compared to small types, they have steady demand, making them highly liquid and promising price appreciation." He added, "Additionally, since they are priced relatively lower than large units, they help reduce interest rate burdens, which is why they are attracting interest."

In particular, the subscription fever for small-to-medium sized types is heating up further in the second half of the year. For example, the ‘Cheongnyangni Lotte Castle High Luce’ complex, which opened for subscription in early July, consists of 51㎡ and 59㎡ units. It attracted 7,879 subscription accounts for special supply, recording an average competition rate of 92.7 to 1, while the first-priority subscription received 21,322 applications, resulting in an average competition rate of 242.3 to 1.

Similarly, the ‘Seoul National University Venture Town Station Prugio’ complex, which was launched around the same time, also saw popularity in small-to-medium sized units. The complex, composed of 51㎡, 59㎡, 74㎡, and 84㎡ units, recorded the highest competition rate of 68 to 1 for the 74㎡ type, followed by 59㎡ and 51㎡ units with competition rates of 44.3 to 1 and 22.8 to 1, respectively. In contrast, the 84㎡ units in the same complex showed relatively lower popularity with an average competition rate of 18.2 to 1.

[Perspective view of Cheonggye SK VIEW scheduled for sale in August]

Amid the popularity of small-to-medium sized types, a new complex called ‘Cheonggye SK View’ is scheduled for sale in August in Yongdap-dong, Seongdong-gu, Seoul. The complex will consist of three buildings ranging from five basement floors to 34 above-ground floors, with a total of 396 units sized between 59㎡ and 84㎡, of which 108 units are for general sale. The 59㎡ units make up the majority with 107 units, and unlike previous association projects, the general sale units are evenly distributed from the 3rd floor to the top floor, the 34th floor.

Cheonggye SK View is a double-station complex located just a 2-minute walk from Sindap Station on Subway Line 2 and a 3-minute walk from Dapsimni Station on Line 5. In addition to the subway, it offers excellent access by car via the Inner Circular Road Sagun IC and Dongbu Expressway, allowing quick travel to downtown Seoul as well as the Gangnam area.

The pleasant residential environment is another advantage. Residents can enjoy the Cheonggyecheon waterfront park right in front of their homes, and some units offer unobstructed views, enabling a healing lifestyle.

With active development projects nearby, the area next to the complex is undergoing the Yongdap redevelopment project, which will host large-scale branded apartments in the future. The Jungnang Water Reclamation Center is being moved underground, significantly increasing green spaces such as parks, and an R&D center will be established. The first phase of the underground project has been completed, with full completion expected in 2028. To the north, the Dapsimni auto parts market will also be transformed into a residential-commercial complex up to 29 floors high.

A sales official said, “The highly preferred 59㎡ units make up most of the general sale, and customers who have been waiting for this sale for a long time are continuing to inquire, as there is also a chance to win units on the royal floors.”

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