How Much is the Bangbae Station Building Sold for ₩3.05 Billion 6 Years Ago Worth Now? Investment Case Analysis Based on 'Seoripul Tunnel' Boost

Let's analyze an interesting past transaction case that proves that the value of real estate lies not in its current appearance, but in its future potential. Approximately 6 years ago, in May 2019, an old 3-story building near Bangbae Station in Bangbae-dong, Seocho-gu, was sold for ₩3.05 billion. Although it was a considerable amount even then, whether this transaction was a 'successful investment' is even clearer from the perspective of today, 6 years later. In particular, let's take a detailed look at how the crucial boost of the 'Seoripul Tunnel', which opened just before the transaction, changed the fate of this building.

1. The Transaction in May 2019: Revisit the Basic Specs

First, here are the specs of the building at 1001-35 Bangbae-dong, Seocho-gu, which was traded 6 years ago.

Location: 1001-35 Bangbae-dong, Seocho-gu, Seoul
Subway Station: Near Bangbae Station (Line 2)
Transaction Date: May 2019
Sale Price: ₩3.05 billion
Land Price (per pyeong at the time): Approx. ₩45.34 million
Scale: Land area 67.28 pyeong / Total floor area 141.24 pyeong (Basement 1st Floor ~ Ground 3rd Floor)
Completion Year: September 1983 (Approx. 36 years old at the time of transaction)
Road Condition: Facing a 4-lane road

Based on the time of the transaction, it was a very old building, over 36 years old. This clearly shows that the buyer at the time invested based on the **value of the land and future development potential** rather than the building's usability.

2. Investment Analysis: Why Buy a 36-Year-Old Dilapidated Building?

What did the buyer in 2019 see that made them invest over ₩3 billion?

Primary Value: A 67-pyeong plot of land located in a 'Type 3 General Residential Zone'. It had the potential to significantly increase asset value through future remodeling or new construction.
Key Value: However, the real key to this investment lies in the **timing**. This is because the **'Seoripul Tunnel' opened in April 2019**, just one month before this building was traded.

3. The Decisive Factor 'Seoripul Tunnel', Changing the Value of Bangbae-dong

The opening of the **Seoripul Tunnel** was a 'game changer' for the Bangbae-dong real estate market.

Innovation in Gangnam Accessibility: Bangbae-dong, which was previously cut off from key Gangnam business districts (GBD) like Gangnam Station and Teheran-ro due to Seoripul Park, became accessible to **Teheran-ro within about 10 minutes by car** with the opening of the Seoripul Tunnel.
From 'Seocho's Isolated Island' to 'Gangnam's Extension': A single tunnel transformed Bangbae-dong into a de facto 'quasi-Gangnam' area. As a result, the real estate value in the Bangbae-dong area has exploded over the past few years.

The buyer in May 2019 is analyzed to have made a preemptive investment, foreseeing the future value just before the full effect of the Seoripul Tunnel opening was reflected in market prices.

4. So, What About Now? (Current Value Estimation)

So, how has the value of this building changed after 6 years?

Since the opening of the Seoripul Tunnel, land prices in the Bangbae-dong area have at least doubled. The current value of this site, which was approximately ₩45.34 million per pyeong in 2019, is estimated to **well exceed ₩100 million per pyeong**, even with a conservative estimate.

Simple Land Value: Approx. 67 pyeong * ₩100 million/pyeong = **Over ₩6.7 billion**
Value Upon New Construction: If a modern building were newly constructed on this site, its value could approach or exceed ₩10 billion.

In conclusion, the ₩3.05 billion investment in 2019 was a very successful investment that achieved **at least a double increase in asset value** in 6 years.

Learning the Future of Real Estate from Past Transactions

This Bangbae-dong transaction case clearly shows that the value of real estate is not determined solely by its location and current condition. It highlights how much impact a **major development boost like 'transportation network expansion' that opens up the city's arteries** has on future value, and how important it is to have the foresight to read the flow of such changes.

What do you think of the ₩3.05 billion transaction case in Bangbae-dong 6 years ago? Can you feel the power of the decisive boost from the 'Seoripul Tunnel' opening?
When investing in real estate, which do you prioritize more: current value or future development prospects?
Where in Seoul and the metropolitan area do you think there are transportation development prospects that could bring about a 'second Seoripul Tunnel' effect? Please share your insights!

We hope you had a useful time gaining wisdom to see the future through past transactions.

#BangbaeDong #BangbaeStation #BuildingSale #RealEstateInvestment #SeoripulTunnel #InvestmentCase #RealEstateBoom #ValueInvesting #SmallBuilding #GangnamRealEstate #SeochoGu #InvestmentAnalysis #PersonalFinance #RealEstateStudy #InvestmentSuccess #CapitalGain #FutureValue #DevelopmentProspects #TransportationBoost #RealEstateOutlook #EconomicNews #ActualTransactionPrice #AssetManagement #SuccessfulInvestment #InvestmentTips

How Much is the Bangbae Station Building Sold for ₩3.05 Billion 6 Years Ago Worth Now? Investment Case Analysis Based on 'Seoripul Tunnel' Boost