"We're a fireworks hotspot too"... Certifications of 'hidden prime spots' pour in from as far as Ahyeon and Sangdo

[Financial News] As the Seoul International Fireworks Festival, held in the Yeouido Hangang Park area, came to a close on the 5th, online real estate communities were flooded with "fireworks proof shots" for two days. This is interpreted as property owners actively trying to highlight their value, given that accessibility to the Hangang River is a major factor in determining real estate value in Seoul. However, posts emphasizing views through gaps or over other apartment buildings have also been uploaded from complexes that are not located along the riverfront, drawing attention.
■Living room views 'verified'... Highlighting their value, even though it is only once a yearOn the 7th, photos taken by residents flooded real estate information platforms and communities such as Hogangnono and Asil, accompanied by posts such as "You can see the fireworks even from the lower floors," "Watching the fireworks live from the living room again this year," and "The one day a year when the rooftop doors are opened." These posts emphasized that residents could comfortably watch the fireworks festival from a living room or rooftop, while approximately 500,000 people visited the event venues at Yeouido or Ichon Hangang Park.
Major complexes that emphasize 'living room views' include Brighton Yeouido and Yeouido Kumho Richensia in Yeouido-dong, Yeongdeungpo-gu, as well as Bukhangang Seongwon in Ichon-dong and Gangbyeon Samsung Suite in Wonhyo-dong, Yongsan-gu—these are the complexes closest to Wonhyo Bridge, the main venue for the event. Every autumn during the fireworks festival, requests asking residents to upload photos are posted on secondhand trading platforms. In Mapo, Dongjak, and Gangseo districts, apartments located along the Hangang River, although relatively far from Wonhyo Bridge, are considered prime locations. These include Bamsam Hyundai in Hyeonseok-dong, Hangang Samsung in Tojeong-dong, Yuwon Gangbyeon, Raemian Twin Park, and Myeongsudae Hyundai in Heukseok-dong, Gangseo Hangang Xi in Gayang-dong, and Yeomchang Dong-A 3rd in Yeomchang-dong.
■"You can't see the Hangang River, but you can see the fireworks"... even an unexpected prime spotA notable point is that even complexes located up to 2 km from the Hangang River have extensively posted photos of living room or rooftop views. These photos capture so-called "niche views" between buildings or views looking over other apartments, and these complexes are highlighting their value by calling them "hidden prime spots for one day a year." They include Acro Tower Square in Yeongdeungpo-dong, Yeongdeungpo; Hillstate Sangdo Prestige Apartments in Sangdo-dong, Dongjak; Dohwa Hyundai Home Town 2nd in Dohwa-dong, Mapo; Mapo Raemian Prugio and Mapo The Classy in Ahyeon-dong; Cheonnyeon Myeongga Cheongam Xi in Cheongam-dong, Yongsan; and Hangang Town and Riverhill Samsung in Sanchon-dong.
Among the prime apartments, there are ultra-high-priced homes like Brighton Yeouido (6.5 billion won), but there are also complexes priced under 1 billion won. In the case of Gangbyeon Complex 3 in Gayang-dong, which consists of small units, 39-square-meter units were traded for 900 million won (sixth floor) and 775 million won (first floor) last August. However, most complexes are showing a steep upward trend. Hangang Samsung in Tojeong-dong is an older complex with fewer than 500 units, completed in 1997, but its location along the Hangang River helped the price of a standard 84-square-meter unit surge by nearly 600 million won, from 1.64 billion won a year ago to 2.205 billion won in March this year. Another common feature is that, as the value of their locations has skyrocketed, their favorable development potential has led them to pursue urban renewal projects such as reconstruction or remodeling.
Meanwhile, views of the Hangang River appear to have established themselves as a key indicator in the real estate market over the past decade. The phenomenon of home prices diverging by hundreds of millions of won within a single complex depending on whether or not they offer a river view is intensifying. Looking at the asking prices for an 84-square-meter unit at Riverhill Samsung in Sanchon-dong, Yongsan, a unit without a river view is listed at 1.84 billion won, while a unit with a "Han River view" is listed at 2.03 billion won. In the case of Acro River Park, a representative high-end complex along the Hangang River, a unit in Building 105 facing the river was traded for 6.3 billion won on May 19, but just four days later, a unit in Building 101, closer to Sinbanpo Station, was traded for 5.5 billion won on May 23. There are also predictions that once reconstruction in the Yeouido and Banpo areas is completed, ultra-high-priced prime viewing spots for fireworks festivals, ranging from 5 to 7 billion won, will be established.
[email protected] Jeon Min-kyung Reporter