High Expectations for Success of ‘Hillstate Lake Songdo 4th Phase’

Interest in the real estate market in the area is growing with the creation of the Hillstate brand town in Landmark City (Districts 6 and 8) of Songdo International City. With the expectation of a rare single brand town of about 5,000 households (planned) in the metropolitan area, there is significant attention from prospective buyers for the upcoming February follow-up sale of ‘Hillstate Lake Songdo Phase 4.’

Songdo Landmark City is being developed as a complex residential space integrating housing, international facilities, tourism, and leisure over a total area of approximately 5.8 million square meters. Geographically, it boasts the waterfront lake, considered a landmark of Songdo, making it one of the most pleasant residential areas in Songdo. Convenient access to Costco, Hyundai Premium Outlet, the planned Lotte Mall, and Chadwick International School is increasing its status as a core residential area in Songdo.

In terms of scale, it is another mini-new town within Songdo International City. According to the Incheon Free Economic Zone Authority, Landmark City plans a total of 27,649 households across 22 sites, including multi-family housing and mixed-use residential-commercial land. Among these, the Hillstate complexes will be developed on five sites with about 5,000 households (planned), making it the largest brand town in Landmark City.

Competition in the subscription market is also fierce. According to the subscription website, ‘Hillstate Lake Songdo Phase 3,’ launched in June 2020, recorded an average competition rate of 44.75 to 1 with 27,922 applicants for 624 units in the first-priority subscription. This is similar to the recent heat of the Songdo subscription market, with ‘The Sharp Songdo Arc Bay’ recording an average first-priority competition rate of 47 to 1 (486 units/22,848 applications).

The industry expects the upward trend of the Hillstate brand town in Songdo Landmark City to continue for the time being. The key reason cited is the steady demand due to the landmark effect within the region.

Meanwhile, interest in ‘Hillstate Lake Songdo Phase 4,’ which Hyundai Construction will launch in February in Songdo-dong, Yeonsu-gu, Incheon, is also increasing among buyers.

This complex is the fourth and largest Hillstate brand town within Songdo Landmark City. It is expected to be popular among buyers due to its pleasant location, including the key facility of the waterfront lake, the planned Landmark City No. 1 Waterfront Park, Songdo Dalbit Festival Park, and Songdo Central Park.

Within a 10-minute drive from the complex is ‘Songdo Dalbit Festival Park Station’ on Incheon Subway Line 1. It also offers easy access to the Gyeongin Expressway via Aam-daero and Incheon-daero, as well as the Second and Third Gyeongin Expressways and Yeongdong Expressway, facilitating convenient travel to Seoul and the metropolitan area.

Within walking distance of Hillstate Lake Songdo Phase 4 is Haeyang Elementary School No. 3 (scheduled for September 2024), and Incheon Hyeonsong Middle School (scheduled for March 2022) will also be established nearby. Additionally, prestigious institutions such as Chadwick International School, the Science and Arts Gifted School, Incheon National University Songdo Campus, Yonsei University International Campus, and Incheon Catholic University are close by.

Hillstate Lake Songdo Phase 4 will be supplied with 1,319 households across 12 buildings, ranging from two basement floors to 36 floors above ground, with exclusive areas from 84 to 165 square meters. The number of units by exclusive area includes 687 units of 84㎡, 405 units of 99㎡, 218 units of 109㎡, and 9 units of 165㎡, catering to recent demand for medium to large-sized units.

The model house is scheduled to open in February.

This content was produced with the assistance of AI translation services.