This Apartment Has Only 215 Households, So Why Did 25,000 People Look It Up? [Kwon Jun-ho's Hot Apartment Guide]

As of the second week of June, from the 8th to the 14th, the apartment that ranked No. 1 in views was Gangbyeon Station Central I-Park in Guui-dong, Gwangjin District, Seoul. The complex was transformed through a neighborhood housing redevelopment project in the Hanyang Row House Complex area. With move-ins scheduled for August, this brand-new development drew more than 25,000 people’s attention.
I visited the apartment in person on the 19th. The exterior was essentially finished, and the interior also appeared to be in its final stage. When I asked a safety official on site whether the move-in schedule could be delayed, he expressed confidence, saying, "That will not happen."
Why did this apartment top the weekly view rankings? After visiting nearby real estate offices, the most common explanation was that it is one of the few new developments in Seoul, where supply is limited. I also met an elderly couple who were interested in moving in. A citizen identified as Mr. A said, "I am not planning to move in, but I came because it is a new building," adding, "I want to see the inside as soon as possible."
The complex is not large. It consists of four buildings, two basement levels, up to 15 floors, and 215 households, with a floor area ratio of 235%. It did not seem suitable for people looking for a large-scale complex. It took about 15 minutes for an adult man to walk around the entire site.
Its strengths, however, are clear. First, it is located near Guui Station and Gangbyeon Station, both on Seoul Subway Line 2. I walked from Exit 4 of Gangbyeon Station to the apartment. It took about 11 minutes. Considering that the route included three traffic lights, the walk was not especially long. Along the way, there were many eateries, including toast shops and bakeries. Parking is another advantage. The complex has 304 parking spaces, or 1.41 spaces per household.
Gangbyeon Station Central I-Park drew enormous attention at the time of its sale because of these advantages. According to Cheongyak Home operated by the Korea Real Estate Board (KREB), the apartment's first-round subscription competition rate in 2024 reached 494 to 1. A total of 22,235 applicants competed for 45 units, and the highest competition rate for the 84-square-meter A type, the standard-size unit, reached 523.4 to 1 in the local area. That figure easily surpassed the 442.3 to 1 average first-round competition rate for Maple Xi in Seocho District, which was sold in the same year. The highest sale price for the 84-square-meter unit at the time was 1.2748 billion won.
How much is it worth now? According to the real estate platform Asil, a unit of the same size was traded for 2.25 billion won on June 12. That means the price has risen by nearly 1 billion won. The current asking price is also set at 2.25 billion won.
There are not many listings. A nearby licensed real estate agent, Mr. B, said, "Right now, almost only jeonse listings are available," and added, "If you are considering a purchase, you should expect to pay around 1.8 billion won for the 59-square-meter unit."
Recent strong interest in the no-priority subscription offering also reflects the apartment's popularity. According to Cheongyak Home operated by KREB, two 84-square-meter C-type units will be offered through a no-priority subscription on the 22nd. The winners will be announced on the 26th, and the units are being supplied at the original sale price. Unit 802 in Building 101 is priced at 1.272 billion won, while Unit 503 in Building 104 is priced at 1.242 billion won. The down payment is 10% of the sale price, and the remaining balance must be paid by November. Compared with nearby complexes, the units are about 1 billion won cheaper. The 84-square-meter unit at Lotte Castle Eastfall, a 1,063-unit complex right next to Gangbyeon Station Central I-Park, traded for 2.23 billion won in October last year. Another notable point is that there is no mandatory residency period. In other words, it is an apartment that can be used for gap investment.What did you think of the first episode of Kwon Jun-ho's "Hot Apartment Guide"? If there is anything else you would like to know, feel free to leave a comment anytime. Feedback is always welcome.kjh0109@fnnews.com Kwon Jun-ho Reporter