[Report] "A Rare New-Build in Seoul, Just Two Minutes on Foot to a Private Elementary School"... Spotlight on 'Best-Value School Zones'

Inside Ssangyong The Platinum Seodaemun

62 Units Available for General Sale

Popular 84m² Units Priced in the 1.3 Billion Won Range

Just 300 Meters from Chungam Elementary School

High Demand Expected From Parents Seeking School Zones

"The exclusive 59㎡ (around 20 pyeong) units are priced at 1 billion won, so they actually feel quite affordable. Once it is completed in 2030, I believe it will offer a definite price advantage compared to other newly built complexes in Seoul," said Mr. A, a resident in his 30s living in Eunpyeong-gu, Seoul.

Ssangyong Engineering & Construction has opened its model house and begun preparations for the official sales launch of 'Ssangyong The Platinum Seodaemun,' its first project in the urban street housing redevelopment sector. With the price for the popular 84㎡ unit set in the mid-1.3 billion won range—below the going rate for new Seoul properties—the small-scale complex has nonetheless become a focal point in the subscription market.

Interior of Ssangyong The Platinum Seodaemun, exclusive 84㎡ A-type unit, located in Susaek-dong, Eunpyeong-gu, on the 21st. Photo by Lee Ji-eun

On August 21, the model house located in Susaek-dong, Eunpyeong-gu, welcomed a stream of visitors from its very first day. Even though only a single 84㎡ A-type unit was on display, a diverse range of prospective buyers—including newlywed couples in their 30s and middle-aged visitors with their daughters—visited the site.

Ssangyong The Platinum Seodaemun is being developed in the area around 355 Hongun-dong, as part of an urban street housing redevelopment project. This is a small-scale complex with three buildings rising from four basement levels to 20 stories above ground and offering a total of 177 units, of which 62 will be available for general sale. By unit type, there are 3 units of the 59㎡ A-type, 53 units of the 84㎡ A-type, and 6 units of the 84㎡ B-type, making 30-pyeong units the majority. A notable feature of this complex is that every unit, regardless of size or type, is constructed in a four-bay, open-plan format.

On the 21st, the interior of the dressing room of Ssangyong The Platinum Seodaemun exclusive 84㎡ Type A, located in Susaek-dong, Eunpyeong-gu. Photo by Ji-eun Lee

Visitors touring the unit that day cited ample storage space as a key advantage. While the master bedroom's walk-in closet and the living room pantry are available as paid options, they do add convenience for storage. Each unit also comes with an individual storage room, allowing residents to store bulky seasonal items separately. In the kitchen, the upper cabinets are designed as flap cabinets rather than hinged doors, which prevents them from hitting the ceiling when opened and lets residents utilize the entire upper space for storage.

The kitchen set up in the Ssangyong The Platinum Seodaemun exclusive 84㎡ Type A unit located in Susaek-dong, Eunpyeong-gu, on the 21st. Photo by Lee Ji-eun

Many cited the relatively low pre-sale prices compared to market rates as a factor driving them to consider applying for a unit. The top-listed prices for this complex are 1,086,500,000 won for the 59㎡ unit and 1,373,300,000 won for the 84㎡ unit. On a per 3.3㎡ (one pyeong) basis, this equates to 40,790,000 won. According to RealHouse, the pre-sale pricing evaluation firm, as of last month, the average sales price for a 59㎡ unit in Seoul was 1,562,570,000 won, and for an 84㎡ unit it was 1,908,720,000 won, making the prices for this complex about 500 million won lower compared to current market rates.

When compared to Hillstate Hongun Forest, a nearby complex that has been completed for three years, the 84㎡ unit in Ssangyong The Platinum Seodaemun is about 100 million won more expensive (with Hillstate's 84㎡ unit at 1,246,000,000 won). However, considering that Ssangyong The Platinum Seodaemun's scheduled completion is in 2030, the price is regarded as relatively low.

Ssangyong The Platinum construction site in the HongEun-dong area of Seodaemun-gu, Seoul. It is located opposite Myeongji College and the pedestrian crossing. Photo by Ji Eun Lee

Another major selling point of the complex is its status as a "first-rate school zone," with a private school located just 300 meters away. From the construction site in Hongun-dong, Seodaemun-gu to the main gates of Chungam Elementary, Middle, and High School, it took only a two-minute walk. On the opposite side of the street, across from a crosswalk, stands Myongji College. However, it takes about 15 minutes on foot to reach Eungam Elementary, the public elementary school, which is somewhat farther away.

The market expects that subscription demand will concentrate among parents seeking top-tier school districts. Especially as large-scale complexes like Baekryeonsan Hillstate Phase 3, with nearly 1,000 units, turn ten years old, there is a view that many will seek to move to Ssangyong The Platinum Seodaemun, where the majority of units offer the popular layout and size.

Chungam Elementary, Middle, and High School in Hongneung-dong, Seodaemun-gu, Seoul. It is located just a 2-minute walk from the complex. Photo by Lee Ji-eun

The head of a certified real estate agency in Eungam-dong, Eunpyeong-gu, commented, "In this area, families with children frequently move in intending to stay for at least six years, until their child graduates from high school. As even relatively new complexes begin to age, demand for moving to new buildings is expected to increase, especially among parents who cannot simply relocate due to school enrollment zones."

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