[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 Subway Line 4, a large-scale complex with over 3,000 households came into view. Upon entering the complex, a single axis running through the center was lined with water features and art installations. Notably, the terrain's elevation differences were utilized to create a long, valley-like green space.

DH Bangbae, a reconstruction of Bangbae District 5 in Seocho-gu, is set to open for residents in September, lifting the veil on the long-awaited new development. With a total of 3,064 units, this large-scale complex is drawing significant attention from the market as it represents a rare supply of new apartments in Bangbae-dong, where many older apartments are clustered.

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

DH Bangbae consists of 29 buildings, ranging from four basement floors up to 33 stories above ground, with 1,244 out of the total 3,064 units offered to the general public. The highest sales prices by exclusive area are as follows: 59㎡ at 1.7258 billion won, 84㎡ at 2.2445 billion won, 101㎡ at 2.5036 billion won, and 114㎡ at 2.7625 billion won.

The most striking feature of the complex is its landscaping facilities combined with artworks. An 'Art Valley' has been created along the central axis crossing the complex, lined with art sculptures and fountains. The community facilities also emphasize premium elements by incorporating art. The art lounge, reminiscent of a hotel lobby, is furnished with luxury Italian furniture, while the sky lounge features 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

The community facilities will, for the first time, feature the 'H Culture Club,' which offers customized programs such as cultural classes to meet the needs of residents. This service is operated through a contract between Hyundai E&C and the residents' representative council. The total area of the community facilities is about 6,000 pyeong, or approximately 2 pyeong per household.

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

The residential buildings are oriented primarily to the south, with maximum spacing between them to ensure unobstructed views—commonly referred to as 'open views.' The 135㎡ penthouses allocated to association members feature two entrance doors, enabling the separation of living spaces within a single unit.

Uncertain Move-In Effect... Jeonse Prices Remain Flat Amid Rental Market Strains

The market is closely watching how the simultaneous move-in of over 3,000 households will impact the jeonse (long-term rental deposit) market in the Bangbae area. Starting with Raemian Trini One in Banpo-dong (2,091 households) in August and followed by DH Bangbae in September, about 5,000 new units will be supplied in Seocho-gu, prompting expectations of a large-scale move-in period. Typically, the start of move-ins at such large complexes leads to a surge in jeonse listings and a dip in rental prices.

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

However, the market has yet to see any noticeable drop in jeonse prices. Currently, the jeonse price for an 84㎡ unit at DH Bangbae is around 1.5 billion won, with the highest asking price reaching 1.95 billion won. For the same size, Raemian Trini One in Banpo is being offered at between 2 billion and 2.7 billion won. Compared to Bangbae Raemian One Perla, which began move-in last November and has similar-sized units listed at around 1.6 billion won, DH Bangbae's prices remain high.

Local real estate agencies report that most homeowners are not adjusting their prices. The manager of a real estate agency near DH Bangbae stated, "Most homeowners have ample funds, so they are not worried about final payments even if their jeonse units remain vacant. Rather than significantly lowering prices, many prefer to move in themselves and live in the unit."

Yang Ji-young, Senior Specialist at Shinhan Premier Pathfinder, commented, "In the past, the move-in effect lasted for about six months—three months before and after occupancy—but recently, due to the jeonse shortage, this period has shortened. Although asking prices may slightly decrease as the move-in date approaches, the limited supply of jeonse units means the market is likely to absorb them quickly, so any price correction will likely be short-lived."

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