[Report] Bangbae-dong Welcomes 3,000 New Households... 'The H Bangbae' Unveiled

3,064 New Units in Bangbae-dong to Begin Move-in This September
Art Valley Landscape Created Along the Central Axis of the Complex
5,000 New Units to Be Supplied in Seocho-gu
Jeonse Prices Remain Unchanged Despite the Move-in Effect

On the 10th, we visited "DH Bangbae" in Bangbae-dong, Seocho-gu, Seoul. After walking for about seven minutes from Isu Station on Seoul Subway Line 4, a massive residential complex with more than 3,000 households came into view. As we entered the complex, a central axis running through the heart of the area was lined with waterscape features and artwork. Notably, the landscaping took advantage of the sloping terrain, creating a long, continuous green space reminiscent of a valley.

DH Bangbae, which is a reconstruction project of Bangbae District 5 in Seocho-gu, is unveiling itself to the market ahead of its scheduled move-in this September. With a total of 3,064 units, this large-scale apartment complex marks the first significant new supply in the Bangbae area—known for its concentration of aging apartments—in quite some time, drawing considerable attention from the market.

A panoramic view of the DH Bangbae complex in Bangbae-dong, Seocho-gu. Photo by Lee Jieun

DH Bangbae consists of 29 buildings, with four basement levels and up to 33 stories above ground. Of the total 3,064 households, 1,244 units were offered for general sale. The highest sales prices by exclusive area are as follows: KRW 1,725.8 million for 59㎡, KRW 2,244.5 million for 84㎡, KRW 2,503.6 million for 101㎡, and KRW 2,762.5 million for 114㎡.

The most eye-catching feature of the complex is its landscape facilities integrated with art. Along the central axis that cuts through the complex, an "Art Valley" has been created, arranging art installations and fountains. High-end elements that incorporate art are also emphasized in the community facilities. The "Art Lounge," which evokes the impression of a hotel lobby, features Italian luxury furniture, while the Sky Lounge is decorated with a large mural painted on site by French artist Alexandre Benjamin Navet.

On the 10th, a large mural was displayed in the DH Bangbae lounge in Bangbae-dong, Seocho-gu. Photo by Ji-Eun Lee

For the first time, a customized program called "H Culture Club"—reflecting residents' demand for cultural lectures and more—will be implemented in the community facilities. This is a service operated by Hyundai Engineering & Construction after concluding an agreement with the residents' representative meeting. The total community space measures about 6,000 pyeong, or roughly two pyeong per household.

Interior of 135㎡ exclusive area penthouse at D-H Bangbae in Seocho-gu. Photo by Lee Ji-eun

All residential buildings are predominantly oriented south, with ample spacing between buildings. This design ensures wide-open, unobstructed views, often referred to as a "clear view." The 135㎡ penthouses allocated to association members are equipped with two front doors, enabling functional subdivision of living spaces within a single household if desired.

Uncertain move-in effect ... Jeonse prices remain flat due to rental market crunch

The market is closely monitoring the expected influence on the jeonse market in the Bangbae-dong area, as more than 3,000 households will move in simultaneously. With the supply of about 5,000 new units in Seocho-gu—including 2,091 units at Raemian Trinione in Banpo-dong starting in August and DH Bangbae coming in September—a large-scale move-in season is expected. Typically, when large complexes are occupied, a surge of jeonse listings leads to a downward adjustment in rental prices.

Landscape facility view installed in the D.H. Bangbae complex in Seocho-gu. Photo by Lee Jieun

However, the market has not seen any notable decline in jeonse prices. As of now, jeonse prices for DH Bangbae's 84㎡ units are around KRW 1.5 billion, with the highest asking price at KRW 1.95 billion. For the same area, the asking price at Banpo Raemian Trinione ranges from KRW 2 billion to KRW 2.7 billion. Compared to the KRW 1.6 billion range seen at Bangbae Raemian One Perla, which began move-ins in November last year, these prices remain relatively high.

Local real estate agencies report that most homeowners are not adjusting their asking prices. The head of real estate agency "A" near DH Bangbae said, "Most owners have ample financial reserves and are not concerned about settling the remaining balance even if the jeonse price doesn't match their expectations," adding, "Rather than drastically lowering prices, most owners would prefer to move in and live there themselves."

Yang Jiyoung, Senior Specialist at Shinhan Premier Pathfinder, commented, "In the past, the so-called 'move-in effect' lasted about six months—three months before and after move-in. But recently, that period has shortened due to the tight rental market. As the move-in date draws nearer, some asking prices might decrease slightly, but because jeonse listings are scarce, the market will likely absorb them quickly. Any price adjustments may be short-lived."

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