"To the south is the Han River, and to the north, we will present a new paradigm for corporate rental housing through the rental housing project near Guui Station on Subway Line 2." (Park Gi-joo, Head of H&R Operations at KT Estate Asset Management)
On the morning of the 24th at 9 a.m., the final construction of the 48-story 'Remarkville' mixed-use development, undertaken by KT Estate, was taking place at 680-63 Jayang-dong, Gwangjin-gu, Seoul. KT Estate will utilize 282 residential officetels in building B of Remarkville, from the 8th to the 20th floor, as 'Remarkville Eastfall' rental housing.
Park Gi-joo, Head of H&R Operations at KT Estate Asset Management, noted during a press briefing held on the 8th floor of Remarkville Eastfall at 10 a.m. that "Remarkville Eastfall is a corporate rental housing project planned as a new product based on KT's technology and experience, along with an analysis of the 1- to 2-person housing market." He explained that it offers a comfortable feeling with the Han River to the south and Achasan Mountain to the north and is located near Guui Station, a mixed-use residential area.
Remarkville Eastfall is a rental housing offering consisting of 8 types, ranging from 23 to 47 square meters, from studio to 1.5 rooms. KT Estate has planned various rental housing options, including typical studios from 16.5 to 23.1 square meters, ones with amenities and social programs for residents ranging from 26.4 to 39.6 square meters, and those with specialized facilities like saunas ranging from 33 to 49.5 square meters.
By allocated area, it comprises ▲A1 (22.46㎡) 26 units ▲A2 (23.7㎡) 74 units ▲A3 (24.19㎡) 50 units ▲B1 (32.16㎡) 74 units ▲B2 (34.21㎡) 24 units ▲C1 (32.68㎡) 11 units ▲C2 (35.95㎡) 11 units ▲D (47.08㎡) 12 units, totaling 282 units.
Remarkville Eastfall is located in the vicinity of Guui Station on Subway Line 2, considered one of the 'golden routes' in Seoul. It connects to exit 3 of Guui Station via an above-ground walkway. It takes 18 minutes to Gangnam Station, 6 minutes to Jamsil Station, 4 minutes to Seongsu Station, and 22 minutes to City Hall Station, making it convenient to move to key business districts in Seoul.
Every unit is equipped with built-in appliances. Basic options include a dryer and washing machine in a tower-type setup, as well as an induction cooktop and integrated bidet. Notably, larger units like type D have four-door built-in refrigerators, pantries, and a hotel-style circulation layout.
Deposits are fixed at 10 million won, 20 million won, and 30 million won depending on the area. Monthly rent varies from 960,000 to 2.4 million won based on area, floor, and direction. The model housing comprises a total of 5 types: A2, A3, B1, C2, and D.
The smaller A2 (23.7㎡) and A3 (24.19㎡) types are positioned to the south, allowing views of the Han River from the window beside the bed. Type A3 features a platform bedroom to enhance storage functionality. Both A2 and A3 have a deposit of 10 million won, with monthly rents of 1.15 million won and 1.25 million won, respectively.
Type B1 (32.16㎡) faces south and offers a view of the Han River. With KT's GiGA Genie, voice control is possible for ventilation, lighting, heating, and cooling. The deposit is 20 million won, and the rent ranges from 1.39 million to 1.54 million won. Type C2 (36.95㎡) is a 1.5-room layout with a separated living room and bedroom. The deposit is 20 million won, and the rent ranges from 1.62 million to 1.68 million won.
The largest unit, the 1.5-room type D (47.08㎡), incorporates a hotel-style circulation design for added convenience. It connects the bathroom, bedroom, living room, and kitchen. Moving to the right from the entrance leads quickly to the bathroom and bedroom, while going left leads to the kitchen and living room. The model housing for type D offers a wide view of Achasan. The deposit is 20 million won, and the rent ranges from 2.25 million to 2.35 million won depending on the floor.
Remarkville Eastfall has already signed leases for about 70% of the units even before moving in begins. It is scheduled to start moving in on the 26th after completion in January this year. According to Seo Jeong-wook, Head of Team at KT Estate Rental Housing Business Unit, as of that day, two-thirds of the total 282 units have been contracted. The majority of tenants are in their 20s to 40s, with a significant proportion of single-person households and female clients.
Seo emphasized that "until now, rental housing has mainly focused on the standard 23.1㎡ (7 pyeong), but Remarkville Eastfall is composed of units larger than 26.4㎡ (8 pyeong), filling more than half of the 8th floor, approximately 990㎡, with community space."
Community facilities include a PT-GX zone for personal workouts or exercise programs, a social-relax lounge for rest or use as a gallery, a rooftop terrace for performances or lectures, and a Remark lounge that can be used for work or dining.
Seo Jeong-wook, Head of Team, analyzed that the corporate rental market still holds a small share of the overall rental market and has a low sensitivity to economic changes, indicating a potential for stable revenue generation over the long term.
Seo stated that "among rental housing, institutional private rentals operated by registered businesses account for about 17%, while housing operated by corporations amounts to only 460,000 units, or 5% of the total," and noted that "an analysis of advanced markets in countries like Japan and the United States shows that corporate rental housing is relatively insensitive to economic fluctuations."
Since 2011, KT Estate has been the first in Korea to prepare for corporate rental housing projects, engaging in various rental housing-related business areas from development, investment, to asset management (AM) and property management (PM).
Currently, KT Estate operates a total of 9,829 rental housing units combined from KT Estate (7,246 units) responsible for development and investment and KT Investment Management (1,334 units) responsible for asset management. Including planned future units, it is expected that KT Estate and KT Investment Management will hold and operate a total of 12,799 corporate rental housing units.
KT Estate plans to supply around 3,000 Remarkville units in key areas of Seoul, including Remarkville Eastfall. In July this year, a new Remarkville will be introduced near Yeongdeungpo-gucheong Station on Subway Lines 2 and 5. Next year, Remarkville will be continuously supplied in Mapo, in 2027 in Yeouido, and in 2030 in Suseo.