As housing prices in Seoul can vary with the location, how old the building is, facilities, size, and deposit money, a safe bet for an average rent (inclusive of maintenance fees) on a one-room studio apartment in Seoul is about $500 USD per month, give or take. While newer buildings with security and lifts may cost up to $650 USD in rent, you may find steals in simpler buildings for about $400 USD as well.
Apgujeong, being one of the most expensive areas in Seoul to live in, may cost between $600 to $700 for a swanky officetel (studio apartment), assuming a $10,000 deposit. A real estate variety show, Where Is My Home, showed viewers a two-storey unit located in the center of Apgujeong that went for about $670 USD.
Located five minutes from the station and on the top floor of a modern building, the hosts were amazed that you could find a two-storey unit for that price.
However, the reason was soon revealed when they entered the home. The home was clean and bright, with lots of sunlight coming in.
However, the space was narrow and long. Furthermore, one of the walls was slanted due to the roof structure.
The low roof means that space is then limited.
You could opt to put a bench under a window, but it was likely that your back would hurt.
A mattress was recommended instead.
Storage options are limited as well due to the low roof. Tall shelves are out of the question.
Although the apartment comes with a washer, fridge and microwave, there is no stove unit. Instead, you are provided with an induction cooker.
The washroom is clean and modern, with an all-white interior.
However, the shower booth is located on the other side of the apartment in a separate area.
A two-storey unit you said? The hosts climbed up the stair in search of the upper floor.
The space was so narrow, it was practically a corridor. What could you put in it?
Many netizens were appalled at the state of the house.
- “It looks more like a utilities area.”
- “Seems like they just had some extra utilities space at the top of the building and decided to rent it out for money.”
- “You would get claustrophobia after living there.”
- “$670 for that? No way. Even if it’s in Apgujeong, there has to be more livable options.”
- “For $670 you could get a regular studio apartment easily.”
“They have no conscience.”
On the other hand, a minority of the comments felt that $670 was reasonable given the location and space. Although it has low roofs and a narrow build, the space is comparable in terms of area.
What do you think?