The saying 'You see what you know' applies not only to cultural heritage but also to the dream of homeownership. To achieve this dream, one must be willing to explore. This is why we embark on site visits. The first destination of 'Star Site Visits' is Hongje-dong in Seodaemun-gu, Seoul.
Hongje-dong is approximately a 15-minute bus ride from Gwanghwamun. While it falls within the urban living zone of Seoul, apartments with a floor area of 84 square meters are trading around 1 billion won, which is relatively affordable compared to nearby complexes. The area around Muakjae Station on Line 3 continues to attract interest from potential buyers seeking proximity to work and home. A recent walk revealed that while the excellent urban accessibility is a significant advantage, the steep slopes and limited commercial areas remain challenges.
Exiting through Exit 3 of Muakjae Station, the first thing that catches the eye is Tongil-ro. Vehicles from Eunpyeong-gu and Goyang and Ilsan in Gyeonggi Province continuously head toward downtown Seoul, with a nearly 30-year-old apartment complex facing a newly constructed one across a crosswalk.
The distance to Gwanghwamun is about 3 kilometers, and Seoul City Hall is approximately 3.5 kilometers away. Taking a bus from the stop in front of the complex, it took just over 12 minutes to reach Gwanghwamun. Using Line 3, one can reach Gyeongbokgung, Jongno 3-ga, and Euljiro 3-ga in under 10 minutes without transfers. However, Tongil-ro, being a major arterial road connecting the northwest of Seoul, often experiences traffic congestion during rush hours, making it somewhat challenging to use personal vehicles. A local real estate agent noted, "The bus-only lanes are generally not heavily congested, but regular lanes can be quite jammed."
The first site visited was the Muak Cheong Apartments, built between 1994 and 1997. Located just a 2-3 minute walk from Muakjae Station, the atmosphere changes once inside the complex. Built along the slopes of Ansan Mountain, the area features significant inclines, making even a short walk feel steep. Parking conditions are also somewhat limited.
Currently, there are rising expectations for the reconstruction of the Cheong Apartments. A local real estate agent mentioned, "Residents are discussing the formation of a reconstruction promotion committee." However, no official procedures for designating a maintenance area or establishing a cooperative for reconstruction are currently underway.
The Muak Cheong Apartments are divided into three phases. The first phase consists of 14 buildings with 862 units, making it the largest among the three. The second phase has one building, while the third phase has two buildings, making them relatively smaller. Another real estate agent stated, "Currently, we are collecting consent forms for reconstruction primarily from Phase 1, and while there is a possibility of pursuing the project with Phase 2, it will be challenging to include Phase 3 in the same plan."
Prices are relatively low considering the urban accessibility. According to the real estate platform Asil, a 84-square-meter unit in Muak Cheong Phase 3 sold for 940 million won in April. Recently, a 79-square-meter unit in Muak Cheong Phase 2 was listed for 1.05 billion won. The larger Muak Cheong Phase 1 saw a record sale of 1.265 billion won for an 84-square-meter unit in June.
Crossing the street from the Cheong Apartments leads to a newly constructed complex, the Seodaemun Prugio Central Park, which opened in 2022. This new development consists of 832 units built on the site of the Hongje District 1 reconstruction. During a weekend afternoon visit, children playing in the playground were the first sight to catch the eye. The complex features a daycare center, community facilities, and a small library, with residents frequently seen walking around.
Although the complex is situated on a hilly terrain, moving around is more convenient than expected. Elevators are installed throughout the complex, allowing residents to navigate without having to climb the hill directly. The elevators operate by entering the building and unit numbers, restricting access for outsiders. A local real estate agent explained, "While the complex is on a hill, many residents feel there is hardly any incline due to the elevators."
There are currently few rental options available. A nearby real estate agent noted, "There are no rental listings for 20-pyeong and 22-pyeong units, only for 25-pyeong units. As the end of this year marks four years since the complex opened, we expect a significant number of rental listings to become available around that time."
The sale prices reflect the premium associated with new constructions. According to Asil, a 55-square-meter unit in this complex sold for 1.25 billion won in April, while 84-square-meter units are currently listed around 1.5 billion won.
What stood out most while exploring the Muakjae Station area was its proximity to the city center. Both complexes are just a 2-3 minute walk from the station, allowing residents to enjoy the urban lifestyle of Gwanghwamun and Jongno while also benefiting from the green environment of Ansan Mountain. The combination of urban accessibility and natural surroundings is a defining feature of this area.
In contrast, the local infrastructure is somewhat lacking. While there are no large supermarkets, basic shopping is possible at the E-Mart Everyday located near the station exit. The dining and café options are limited, resulting in relatively quiet streets even during the evening. The hilly terrain also appears to be a factor to consider in daily life.
Entering the complex changes the atmosphere. Ansan Elementary School is adjacent, and the Ansan Mountain trail is easily accessible. Some buildings offer views of Inwangsan Mountain, and despite the proximity to Tongil-ro, the interior of the complex maintains a relatively quiet ambiance.
In Hongje-dong, where older and newer buildings coexist across from Muakjae Station, both types of apartments share common advantages of urban accessibility and natural surroundings. The older buildings have the added expectation of reconstruction, while the new ones stand out for their amenities and community features. For those seeking urban living in the 1 billion won range, this area is worth a visit.
* This article has been translated by AI.
Hongje-dong is approximately a 15-minute bus ride from Gwanghwamun. While it falls within the urban living zone of Seoul, apartments with a floor area of 84 square meters are trading around 1 billion won, which is relatively affordable compared to nearby complexes. The area around Muakjae Station on Line 3 continues to attract interest from potential buyers seeking proximity to work and home. A recent walk revealed that while the excellent urban accessibility is a significant advantage, the steep slopes and limited commercial areas remain challenges.
Exiting through Exit 3 of Muakjae Station, the first thing that catches the eye is Tongil-ro. Vehicles from Eunpyeong-gu and Goyang and Ilsan in Gyeonggi Province continuously head toward downtown Seoul, with a nearly 30-year-old apartment complex facing a newly constructed one across a crosswalk.
The distance to Gwanghwamun is about 3 kilometers, and Seoul City Hall is approximately 3.5 kilometers away. Taking a bus from the stop in front of the complex, it took just over 12 minutes to reach Gwanghwamun. Using Line 3, one can reach Gyeongbokgung, Jongno 3-ga, and Euljiro 3-ga in under 10 minutes without transfers. However, Tongil-ro, being a major arterial road connecting the northwest of Seoul, often experiences traffic congestion during rush hours, making it somewhat challenging to use personal vehicles. A local real estate agent noted, "The bus-only lanes are generally not heavily congested, but regular lanes can be quite jammed."
The first site visited was the Muak Cheong Apartments, built between 1994 and 1997. Located just a 2-3 minute walk from Muakjae Station, the atmosphere changes once inside the complex. Built along the slopes of Ansan Mountain, the area features significant inclines, making even a short walk feel steep. Parking conditions are also somewhat limited.
Currently, there are rising expectations for the reconstruction of the Cheong Apartments. A local real estate agent mentioned, "Residents are discussing the formation of a reconstruction promotion committee." However, no official procedures for designating a maintenance area or establishing a cooperative for reconstruction are currently underway.
The Muak Cheong Apartments are divided into three phases. The first phase consists of 14 buildings with 862 units, making it the largest among the three. The second phase has one building, while the third phase has two buildings, making them relatively smaller. Another real estate agent stated, "Currently, we are collecting consent forms for reconstruction primarily from Phase 1, and while there is a possibility of pursuing the project with Phase 2, it will be challenging to include Phase 3 in the same plan."
Prices are relatively low considering the urban accessibility. According to the real estate platform Asil, a 84-square-meter unit in Muak Cheong Phase 3 sold for 940 million won in April. Recently, a 79-square-meter unit in Muak Cheong Phase 2 was listed for 1.05 billion won. The larger Muak Cheong Phase 1 saw a record sale of 1.265 billion won for an 84-square-meter unit in June.
Crossing the street from the Cheong Apartments leads to a newly constructed complex, the Seodaemun Prugio Central Park, which opened in 2022. This new development consists of 832 units built on the site of the Hongje District 1 reconstruction. During a weekend afternoon visit, children playing in the playground were the first sight to catch the eye. The complex features a daycare center, community facilities, and a small library, with residents frequently seen walking around.
Although the complex is situated on a hilly terrain, moving around is more convenient than expected. Elevators are installed throughout the complex, allowing residents to navigate without having to climb the hill directly. The elevators operate by entering the building and unit numbers, restricting access for outsiders. A local real estate agent explained, "While the complex is on a hill, many residents feel there is hardly any incline due to the elevators."
There are currently few rental options available. A nearby real estate agent noted, "There are no rental listings for 20-pyeong and 22-pyeong units, only for 25-pyeong units. As the end of this year marks four years since the complex opened, we expect a significant number of rental listings to become available around that time."
The sale prices reflect the premium associated with new constructions. According to Asil, a 55-square-meter unit in this complex sold for 1.25 billion won in April, while 84-square-meter units are currently listed around 1.5 billion won.
What stood out most while exploring the Muakjae Station area was its proximity to the city center. Both complexes are just a 2-3 minute walk from the station, allowing residents to enjoy the urban lifestyle of Gwanghwamun and Jongno while also benefiting from the green environment of Ansan Mountain. The combination of urban accessibility and natural surroundings is a defining feature of this area.
In contrast, the local infrastructure is somewhat lacking. While there are no large supermarkets, basic shopping is possible at the E-Mart Everyday located near the station exit. The dining and café options are limited, resulting in relatively quiet streets even during the evening. The hilly terrain also appears to be a factor to consider in daily life.
Entering the complex changes the atmosphere. Ansan Elementary School is adjacent, and the Ansan Mountain trail is easily accessible. Some buildings offer views of Inwangsan Mountain, and despite the proximity to Tongil-ro, the interior of the complex maintains a relatively quiet ambiance.
In Hongje-dong, where older and newer buildings coexist across from Muakjae Station, both types of apartments share common advantages of urban accessibility and natural surroundings. The older buildings have the added expectation of reconstruction, while the new ones stand out for their amenities and community features. For those seeking urban living in the 1 billion won range, this area is worth a visit.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.