Daechi-dong Eunma Apartment
Overview
Daechi-dong Eunma Apartment is a large-scale apartment complex located in Daechi-dong, Gangnam-gu, Seoul, completed in the late 1980s as an aging apartment complex. It receives high interest in the real estate market due to the combination of the Gangnam-area redevelopment boom and the premium of the Daechi-dong school district. In particular, it exhibits significant price volatility depending on redevelopment progress and project speed, and is often considered a barometer of the Gangnam-area real estate market.
Main Content
Location and Surrounding Environment
Daechi-dong Eunma Apartment is adjacent to the Daechi-dong private education district, with Samsung Station on Subway Line 2 and Daechi Station on Line 3 within walking distance. The surrounding area is densely populated with business and commercial facilities such as COEX, Samseong-dong Trade Center, and Gangnam-gu Office, resulting in high demand for proximity to work and residence. Additionally, prestigious schools such as Daechi Elementary School, Daechi Middle School, and Whimoon High School are nearby, ensuring steady demand from the school district.
Complex Overview
- Completion Year: December 1987
- Total Households: Approximately 1,200 households (8 buildings, 15 stories above ground)
- Area Composition: Exclusive use areas of 59㎡, 84㎡, 114㎡, etc.
- Floor Area Ratio: Approximately 230% (can be increased to over 300% upon redevelopment)
- Parking Spaces: 0.8 per household (insufficient)
Redevelopment Status
Daechi-dong Eunma Apartment formed a redevelopment promotion committee in the early 2020s and is in the process of establishing a maintenance plan. In 2023, it passed a safety diagnosis, accelerating the project, but delays occurred due to disagreements among union members, interest rate hikes, and rising construction costs. As of 2024, it is awaiting designation as a maintenance zone, and it is expected to take 2–3 years to reach the project implementation approval stage.
Market Price Trends
As of 2024, the sale price for an exclusive use area of 84㎡ at Daechi-dong Eunma Apartment is around 1.5–1.8 billion KRW, which is 30–40% cheaper than nearby newly built apartments. Reflecting redevelopment expectations, prices rose over 20% compared to 2021, but transaction volume sharply declined from the second half of 2023, leading to a wait-and-see atmosphere. Jeonse (long-term deposit) prices range from 700 million to 900 million KRW, with a jeonse-to-price ratio of around 50%, indicating stability.
Educational Environment
Daechi-dong Eunma Apartment is located in the core area of the Daechi-dong private education district, offering excellent access to private tutoring for elementary, middle, and high school students. In particular, Whimoon High School, Daechi Middle School, and Daechi Elementary School are within a 10-minute walk, making it highly preferred by parents. Consequently, school district demand serves as a major factor supporting prices.
Latest Trends
As of 2024–2025, Daechi-dong Eunma Apartment has successfully defended its prices due to the school district premium, despite uncertainties in the redevelopment project and a downturn in the Gangnam-area real estate market. In June 2024, the maintenance plan establishment service was completed and submitted to the district office, with the maintenance zone designation expected in the first half of 2025. Additionally, the recent government trend of easing redevelopment regulations (relaxation of the excess profit recapture system, easing of safety diagnosis standards) is expected to positively impact project progress. However, the possibility of project delays due to soaring construction costs and increased burden of union member contributions has also been raised.
Related Topics
- [[Gangnam-gu Redevelopment]]
- [[Daechi-dong School District]]
- [[Seoul Apartment Market Prices]]
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