Opportunity to own a 6 billion won apartment by selling Seongnam villa and investing in Banpo 1-dong redevelopment villa

Currently, with Seoul's real estate prices having risen significantly, the situation is to seek expert opinion by comparing the future value of the Taepyeong 3-dong redevelopment villa in Seongnam with real estate investment opportunities in Seoul.

This is interpreted as highly valuing the potential value and investment advantages of the Seoul real estate market.

Through the viewer's answer, "Yes. Yes. Yes. One home," it was confirmed that this sale and relocation is a decision for a single homeowner.

Expert Cha Yoon-won explained the background of his recommendation to move by comparing apartment prices in Seongnam and Seoul. He mentioned that the price of a 30-pyeong apartment in Seongnam is between 1.2 billion and 1.7 billion won, still under 2 billion won. In contrast, apartment prices in Seoul vary by region, but most are in the 2.5 billion to 3 billion won range for large units, indicating a significant price gap between Seongnam and Seoul.

This price difference suggests the high value and growth potential of Seoul real estate, emphasizing that moving assets from Seongnam to Seoul can bring greater capital gains.

This advice does not imply a decline in the value of Seongnam real estate itself, but rather a judgment that Seoul is more attractive in terms of investment returns.

This area was presented as having very high potential for future value increase.

These ultra-high apartment prices show that the real estate value in the Banpo area is very high and serve as a basis for predicting the expected value of new apartments through future redevelopment.

Expert Cha Yoon-won pointed to a specific block next to Banpo Xi as a promising investment area. This block is located between Sinnonhyeon Station and Nonhyeon Station and has the advantage of being a double or triple subway station area served by lines 7, Shinbundang, and 9. He introduced this block, which is adjacent to the Gyeongbu Expressway, as the neighborhood next to Banpo Xi, emphasizing its location at a transportation hub and subway station area.

These locational advantages are expected to lead to high business feasibility in future redevelopment.

This project is expected to be a major positive factor for the Banpo 1-dong area.

Expert Cha Yoon-won explained that due to the Gyeongbu Expressway underground project, the expressway will disappear and become a park around the mid-2030s. He emphasized that if the space blocked by the expressway transforms into a park, it will be a very significant positive factor for both the Banpo 1-dong residential area and Banpo Xi apartment. He said, "Therefore, by the mid-2030s, the expressway here will disappear. It will all be covered. It will be made into a park. They will create a park. But if the expressway, which was blocking the space between this apartment and the residential area in Banpo 1-dong, becomes a park, that would be a very big positive factor, right? Yes. It's a positive factor for Banpo Xi, and it's a positive factor for the residential area in Banpo 1-dong," predicting an increase in surrounding real estate values.

He stated that 67% of the houses are 30 years old or more, which exceeds the 60% obsolescence standard for redevelopment. He said, "The obsolescence rate in Banpo 1-dong is about 67%. 67% of the houses are 30 years old or more. Yes. Yes. So, for redevelopment, if it exceeds 60%, redevelopment can be done. Yes. Yes. Yes. It has met the obsolescence criteria for redevelopment. Redevelopment can be pushed through at any time, right?" emphasizing that it has met the conditions to pursue redevelopment at any time.

Expert Cha Yoon-won pointed out that there are quite a few commercial buildings in Banpo 1-dong, and owners of these commercial buildings tend to oppose redevelopment. He explained that commercial building owners are hesitant about redevelopment because they worry that their current monthly rent income will decrease if redevelopment proceeds, and that the appraisal value they receive later will be lower than their current asset value. He said, "But if you look at the people here, there are quite a few commercial properties, right? There are commercial properties. So, will these commercial properties try to proceed with redevelopment or not? They won't try to proceed. Because commercial property owners think it's much better to receive monthly rent, and they think that the appraisal value they receive later will be lower than their current asset value, they don't proceed with redevelopment well."

He explained that this 500 million won investment can leverage the potential of Banpo 1-dong redevelopment.

This provides a positive forecast for the investment recovery period and profit realization time.

He said, "Redevelopment currently most common in Seoul: quick integration planning redevelopment, Oa-town, then station area shift, station area revitalization, and urban complex. There are two types of urban complex: residential-focused and growth-hub. This area can proceed with all six types of redevelopment. It has met all the conditions." He emphasized the wide range of development methods available.

Expert Cha Yoon-won selected 'Growth Hub Urban Complex Development' as the most suitable and economically viable redevelopment type for Banpo 1-dong. He explained that this development method is applicable to areas located within 500m of transfer stations Sinnonhyeon Station and Nonhyeon Station, and Banpo 1-dong meets this condition. The biggest advantage of growth hub development is its overwhelmingly high floor area ratio. While the floor area ratio for general apartments is about 300% and for high-density station area development is 500%, the growth hub type can receive an astounding 1300% floor area ratio.

This means that many more units can be built on the same area, and he emphasized that this maximizes business feasibility and significantly reduces the burden of contributions, saying, "Even Taepyeong-dong will probably go with a 300% floor area ratio. So, for example, that means about 300 units can be built in that area. But here, 1,300 units can be built. On the same area. How good would the business feasibility be then?" He also added that even commercial property owners who opposed redevelopment due to a low floor area ratio are likely to turn to approval if they receive the benefit of a 1300% floor area ratio.

He said, "Because even those who own large properties will get a high appraisal value. So they can get 1+1, receive refunds, keep their commercial properties, and enjoy various other benefits. Therefore, I believe that if the area is developed as an urban complex, especially as a growth hub type, it will definitely undergo redevelopment." He emphasized that this situation is not a loss but a gain for commercial property owners, allowing them to acquire a 6 billion won apartment and commercial property together while also receiving a refund.

He warned that if redevelopment becomes visible, such as the formation of a redevelopment promotion committee or residents' briefings, it will no longer be possible to invest in Banpo 1-dong with 500 million won, stressing the importance of proactive investment.

He emphasized excluding Nonhyeon 1-dong from investment targets and focusing solely on Banpo 1-dong because Nonhyeon 1-dong has a high proportion of commercial properties and offices, making redevelopment difficult.