What is officetels in seoul?

Officetels are a unique type of housing in Seoul that combines the features of an apartment and an office. These units are typically small, ranging from 10 to 100 square meters, and come equipped with a kitchen, bathroom, and living space. In addition, they also have an attached office space that can be used for work or storage.

Officetels have become popular in Seoul due to their convenience and affordability. They are often located in central areas, making them easily accessible to public transportation and city amenities. They are also a cost-effective alternative to traditional offices or apartments as they allow for both work and living in the same space.

Though most officetels are rented out to individuals, some are bought as investments and rented out to tenants. This has caused some controversy in recent years, as many landlords have flooded the market with officetels, causing an oversupply and lowering rental prices. Despite this, officetels remain a popular housing option in Seoul, particularly for students, young professionals, and those seeking a more flexible living and working arrangement.