Nikola Medimorec Co-Author of Kojects Where should you buy real estate in Korea? Ask an urban development expert. Nikola Medimorec Co-Author of Kojects

What is Kojects?

Kojects.com website about transport and urban development in Korea founded by Andy Tebay in 2011, I joined him in 2013 Features: project database discussion forum guide to public transport in Korean cities, travel around cities and studying transport and urban planning 380 Likes 1003 Followers 17 Subscribers 17 Followers

Topics national rail projects urban rail projects urban development Pyeongchang KTX, Honam KTX, Incheon Airport KTX urban rail projects new metro lines, PRT project, Incheon Airport Maglev urban development Sejong City, Songdo, Seoul Station 7017 sustainable transport pedestrian environment, bicycling in Korean cities

Sources for our Articles Official Plans Articles for Kojects Experts Online-Commu-nities Media Direct Infor-mation Events English and Korean media official government plans online-communities transport experts and urban activists information of readers seminars and conferences

Seoul’s Development Until Now

History of Seoul’s Urban Development (in millions) Seoul occupies 0.6% of Korean land, 21% of population live in Seoul. (Source: Geographical Atlas of Seoul, 2013)

Current Urban Context Gangbuk, north of river: organic, narrow street network very pedestrian-friendly roads known for gentrification (Daehak-ro, Haebangchon, Hongdae-Sinchon) development projects: Dongdaemun Design Plaza, Seoul Station 7017 Gangnam, south of river: wide, block-style network car-oriented development large lots and more apartments development projects: Lotte World Tower, IFC, Hyundai Skyscraper Traditional Seoul Modern Seoul

Current Urban Context (Source: http://andrewstokols.com/) http://andrewstokols.com/?p=826 (Source: http://andrewstokols.com/)

Housing change in household size: from 4 to 6 persons per household to single apartments housing type: 59.7 % apartments, 24.8% multiplex houses 4.6% detached houses Housing supply at record high of 98.4% (Source: Geographical Atlas of Seoul, 2013)

Business Spaces Seoul prime office vacancy rate YBD 15.6% CBD 15.5% District Average rent (KRW per Pyeong GLA) Average rent (KRW per Pyeong NLA) Year-on-Year rental increase (%) Net absorption (sq m) Jongno (CBD) 101,100 180,400 0.8 6,703 Gangnam (GBD) 85,400 166,500 0.1 19,210 Yeouido (YBD) 78,100 160,600 12,628 Seoul prime office vacancy rate YBD 15.6% GLA: Gross leasable area NLA: net lettable area http://pdf.savills.asia/asia-pacific-research/korea-research/korea-office-briefing/2016-02-11-q4-2015-seoul-office-market-report-(en)-final.pdf CBD 15.5% GBD 9% (Source: Savills Research & Consultancy)

Transport

In terms of speed it is a one-dimensional system

2004 Bus Reform Median-Lane Bus Service (Source: Geographical Atlas of Seoul, 2013)

Seoul’s Development From Now

2030 Seoul Plan Growth (개발) Redeve-lopment (재개발) Regeneration (재생)

Multi-Core System: 3 main centers 7 regional centers 12 local centers p. 150 seoul vision 2030 Change from the “1-main center, 5-subcenter area system, 11-local center” to “3-main center, 7-regional center, 12-local center multi-core functional system” (Source: 2030 Seoul Plan)

Human City Seoul Projects: public bike-sharing system Seoul Bike transit malls and pedestrian zones Seoul Station 7017, Sewoon Sanga focus shifts to wellbeing promotion of walking and cycling urban renewal of places (Source: Seoul Transport Department, 2015)

New Subway Lines Every Seoul citizen will have a subway within 10 mins walking distance First to open in 2018: Dongbuk-Line (동북선) - Wangsimri Station to Sanggye Station Sinrim-Line (신림선) - Yeouido to Seoul National University Entrance Myeongmok-Line (면목선) - Cheongryangri to Sinnaedong Other lines completed until 2021 Red Lines = Construction in Progress/Planned Green Lines = Extensions/Newly Added Dotted Lines = Maybe Future Projects (Source: Seoul Transport Department, 2013)

Gyeonggi Train Express GTX is supposed to be an express commuter rail connecting cities in Gyeonggi Province with each other by passing through Seoul GTX Line A (Samseong to Dongtan) expected to open in 2021 Many uncertainties about Line B and C (Source: Yonhap News)

(Source: 2030 Seoul Plan) Regional Rail Regional Express Rail Airport Express Line no. 9 Suseo Train Station New high-speed rail Station in Suseo Maybe extension to Samsung/COEX? (Source: 2030 Seoul Plan)

Conclusion

So… …where should I invest?

Thank you for your attention! info@kojects.com Kojects.com