7.4 Billion KRW Screen Golf Building Transaction in Busan Dongnae-gu! Prime Location near Myeongnyun Station, Plus Reconstruction Boom
A four-story building in Oncheon-dong, Dongnae-gu, Busan, located in the ultra-prime location of Myeongnyun Station, has been sold for 7.4 billion KRW. Currently operating as a screen golf facility, this building is considered a smart investment property that can expect both stable income and future value appreciation due to its prime location near the station, abundant living amenities, and surrounding reconstruction projects. As someone who has been closely monitoring the trends in the Busan real estate market, this major transaction news was very interesting.
In this article, we will analyze the detailed transaction details of the building in Oncheon-dong, Dongnae-gu, Busan, and take an in-depth look at the investment value of the Myeongnyun Station area and the impact of surrounding reconstruction projects. In addition, considering that it is currently operating as a screen golf facility, we will thoroughly explore its attractiveness as an income-generating property.
Analysis of Detailed Transaction Details of the 7.4 Billion KRW Building in Oncheon-dong, Dongnae-gu, Busan
The building that was sold this time is located at 303-11, 3 Oncheon-dong, Dongnae-gu, Busan, and is situated in an ultra-prime location very close to Myeongnyun Station on the Busan Subway. It was transacted for 7.4 billion KRW in January 2025, and the land price was set at 2.091 billion KRW.
- Land Area: 353.93 pyeong (1,170㎡)
- Building Area: 441.20 pyeong (1,458.51㎡)
- Zoning: Type 2 General Residential Area
- Year of Completion: November 3, 2022
- Officially Assessed Land Value: Approximately 6.21 million KRW
- Ratio of Land Price to Officially Assessed Land Value: Approximately 3.37 times
Ultra-Prime Location of Myeongnyun Station: Abundant Floating Population and Convenient Transportation
The biggest attraction of this building is its ultra-prime location right in front of Myeongnyun Station on Busan Subway Line 1. Myeongnyun Station is one of the core commercial districts in Dongnae-gu, boasting a rich floating population regardless of weekdays or weekends, and is a very convenient area for public transportation. This station area location has high value as a commercial building and is very advantageous in securing rental demand for various industries.
Surrounding Reconstruction Project Boom: Increased Expectations for Future Value Appreciation
Large-scale reconstruction projects are actively underway near this building. In particular, the Myeongnyun 2nd District reconstruction and Oncheon 1st District reconstruction projects have already made considerable progress, and when these projects are completed, it is expected that the real estate value will increase due to the improvement of the residential environment and expansion of infrastructure in the surrounding areas.
Abundant Living Amenities such as Lotte Department Store: Convenient Living Environment
The building is surrounded by a wealth of living amenities, including Lotte Department Store. Various amenities such as department stores, supermarkets, hospitals, and banks are located within close proximity, providing convenience for residential and commercial activities. This will have a positive impact on securing rental demand.
Attractiveness of Income-Generating Real Estate: Expect Stable Rental Income from Screen Golf Facility Operation
Currently, this building is operating as a screen golf facility, so the buyer is expected to secure stable rental income. Screen golf facilities are an industry with steady demand, and in particular, screen golf facilities located in station areas have high usage rates among office workers and local residents, so stable income can be expected. In addition, there is also the possibility of generating higher profits in the future by changing the entire or part of the building to other income-generating facilities or through reconstruction.
Conclusion: The Building in Oncheon-dong, Dongnae-gu, Busan is an Attractive Investment Opportunity that Can Secure Stable Income and Future Value at the Same Time
This 7.4 billion KRW building located in the Myeongnyun Station area of Oncheon-dong, Dongnae-gu, Busan, is an attractive investment opportunity with excellent location conditions, abundant living amenities, and surrounding reconstruction project advantages. Currently, it is operating as a screen golf facility, so stable rental income can be expected, and there is sufficient potential to create even higher value through future reconstruction. If you are considering commercial real estate investment in the Busan area, it is worth paying attention to this building in the Myeongnyun Station area.
The building at 303-11,3 Oncheon-dong, Dongnae-gu, Busan was sold in January 2025.
※ Transaction Details
- Location: 303-11,3 Oncheon-dong, Dongnae-gu, Busan
- Subway Station: Myeongnyun Station
- Transaction Date: January 2025
- Transaction Price: 7.4 billion KRW
- Land Price (per pyeong): 20.91 million KRW
- Land Area: 353.93 pyeong (1170㎡)
- Building Area: 441.20 pyeong (1458.51㎡)
- Zoning: Type 2 General Residential Area
- Floors: 4 Above-Ground Floors
- Road Conditions: 6m
- Year of Completion: 2022.11.03
- Officially Assessed Land Value: Approximately 6.21 million KRW
- Land Price vs. Officially Assessed Land Value: Approximately 3.37 times
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