Samjeon-dong, Songpa-gu Redevelopment Villa: Floor Area Ratio Incentives Expected Under Private Urban Complex Development

Given that the statutory upper limit for quasi-residential zones is 500%, the explanation is that this scheme could secure a floor area ratio of up to 700%.

Once the operating standards are finalized, development in the area is expected to move forward in earnest.

Prices of major apartment complexes in the Jamsil area are quite high. Raemian Iparkk Jamsil, scheduled for occupancy in December 2025, is priced at 4.3 billion won for the national standard 33-pyeong unit, and nearby Jamsil Lei also sits at effectively 4.4 billion won for a 33-pyeong unit. That works out to roughly 130 million won per pyeong. Older complexes such as Els and Risen also trade in the mid-3 billion won range for 33-pyeong units, while reconstruction complexes exceed 100 million won per pyeong.

The future value of Jamsil apartments is expected to rise further. For Jamsil Jugong 5-danji, analysts say 6 billion won for a 33-pyeong unit is entirely possible. This trend points to a shift from the earlier era of 100 million won per pyeong to the current era of 300 million won per pyeong. Appreciation in Jamsil apartment values is expected to continue.

The Samjeon-dong redevelopment villa introduced here has a major advantage: it is not counted toward homeownership. As a result, both non-homeowners and single-homeowners pay only a 1% tax. The property consists of 1.5-room and two-room units; 1.5-room units are priced at 499 million to 550 million won, and two-room units at 570 million to 590 million won. Expected jeonse deposits range from about 240 million won to roughly 300 million won, so the actual investment required is in the mid-200 million won range. Over the long term, the property offers an opportunity to become the owner of an apartment worth over 5 billion won.