Jamsil Jugong 5-danji Apartment
Overview
Jamsil Jugong 5-danji Apartment is a large-scale apartment complex located in Jamsil-dong, Songpa-gu, Seoul. Completed in 1978, it has established itself as one of South Korea's representative residential complexes. It continues to attract attention in the real estate market due to its excellent location adjacent to the Han River, large complex size, and ongoing redevelopment project. In particular, it is known as a representative complex with significant price fluctuations, driven by the redevelopment boom in the Jamsil area.
Main Content
History and Background
Jamsil Jugong 5-danji was built as a large-scale apartment complex supplied by the Korea National Housing Corporation (now LH) in the late 1970s, as part of the Jamsil district land development project. It consists of 30 buildings and 3,930 households, making it one of the largest complexes in Jamsil-dong. Initially composed mainly of small and medium-sized units, the aging of the residential environment and the need for redevelopment emerged over time.
Location and Transportation
Jamsil Jugong 5-danji is very conveniently located near Jamsil Station, where Seoul Subway Lines 2, 8, and 9 intersect. It is also adjacent to major roads such as Olympic Expressway and Gangbyeon Expressway, making car travel easy. The complex is directly in front of Hangang Park and Jamsil Sports Complex, providing abundant living infrastructure. Large commercial facilities such as Lotte World Tower, Lotte Department Store, and E-Mart are within walking distance, enhancing residential convenience.
Redevelopment Project Status
Jamsil Jugong 5-danji passed a detailed safety diagnosis for redevelopment in 2018, entering full-scale redevelopment procedures. After establishing a union and receiving project implementation approval in the early 2020s, it is currently awaiting approval of the management and disposal plan. After redevelopment, it is planned to transform into a large-scale complex with up to 49 floors and over 4,000 households, featuring a design that maximizes Han River views. The project pace has been somewhat delayed due to internal union conflicts and government regulations, but as of 2024, the project has resumed.
Market Prices and Real Estate Market Impact
Jamsil Jugong 5-danji is one of the complexes leading the rise in Seoul apartment prices due to redevelopment expectations. From 2020 to 2023, prices for an exclusive area of 82㎡ surged from 1.5 billion won to over 2.5 billion won, and although it experienced a temporary adjustment in 2024, it still maintains high price levels. Price fluctuations are severe depending on the stage of redevelopment progress, making it a region of concentrated interest for investors. In particular, units with Han River views and higher floors command significant premiums.
Residential Environment and Community
The complex is equipped with various community facilities such as a daycare center, senior center, and community center. Additionally, the Jamsil-dong area has excellent school districts, making it highly preferred by parents. Prestigious schools such as Jamsin Elementary School, Jamsil Middle School, and Jamsil Girls' High School are nearby, providing an outstanding educational environment. However, the aging building conditions and lack of parking space are pointed out as drawbacks, which are expected to be resolved through redevelopment.
Latest Trends
From 2024 to early 2025, the Jamsil Jugong 5-danji redevelopment project is accelerating internal union coordination and administrative procedures. A public hearing for residents was held in the second half of 2024 to establish the management and disposal plan, with the goal of obtaining approval within the first half of 2025. Additionally, in line with the government's trend of easing real estate regulations, measures such as the relaxation of the redevelopment excess profit recapture system are expected to have a positive impact on the project. Meanwhile, as of the end of 2024, some households in the complex have begun moving out, and full-scale demolition is scheduled for 2025. The market expects the sale price after redevelopment to exceed 50 million won per 3.3㎡, which is analyzed to significantly affect the market prices of nearby complexes.
Related Topics
- [[Jamsil Jugong Apartment Redevelopment]]
- [[Songpa-gu Real Estate Market]]
- [[Han River View Apartments]]
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