Hyundai Engineering's Hillstate Haeundae Central Continues to Attract Interest from the 'Geumtoe-jok' Generation

'Geumtoejok' Creating Cash Flow Through Real Estate, Steady Investment in Busan Haeundae Real Estate

In Busan Haeundae real estate, the footsteps of the 'Geumtoe-jok' continue steadily.

Geumtoe-jok is a newly coined term referring to retirees aged 50 and above who have retired from their main source of income after living through their late 20s to late 50s at their primary workplace, and who self-assess that they have sufficient retirement funds. Simply put, it describes those who have diligently prepared for their retirement during their working years and have become a 'gold-plated' retirement group rather than an ordinary retiree.

It has been investigated that major residential lodging facilities supplied in Haeundae have been renewing record prices within a few months as these Geumtoe-jok continue to invest. Also, newly supplied complexes in Busan Haeundae are seeing ongoing real estate shopping by Geumtoe-jok.

A sales representative of the ‘Hillstate Haeundae Central’ residential lodging facility currently being supplied in U-dong, Haeundae-gu, said, “Among the remaining contract consultations and inquiries, a significant number are Geumtoe-jok who retired early in their 40s and 50s, and especially inquiries from Geumtoe-jok across the country outside Busan are continuing,” sharing the on-site atmosphere.

The reason Geumtoe-jok are turning their attention to Haeundae residential lodging facilities is analyzed to be because the area and product are considered optimized for cash flow.

Geumtoe-jok usually prepare from a young age and use accumulated know-how to invest in various assets such as real estate, stocks, and funds to spend their retirement. Among these, real estate is regarded as an investment that generates cash flow. According to data surveyed by Hana Financial Group’s 100-Year Happiness Research Center, 72% of Geumtoe-jok own real estate besides their homes, and they are generating cash flow through these assets.

Therefore, among Geumtoe-jok, there is a higher preference for income-generating real estate over apartments. For example, according to the '2022 KB Real Estate Report,' which analyzed the results of an online survey of KB asset management experts (PBs), commercial properties accounted for 38% as the preferred real estate investment destination among wealthy clients who entrusted their money management to PBs, surpassing reconstruction apartments and general apartments (each 20%) for the first time.

Thus, it is analyzed that Geumtoe-jok seeking products that facilitate smooth cash flow have flocked to Haeundae residential lodging facilities. In fact, Haeundae residential lodging facilities are called the optimal place to achieve high value in terms of profitability and asset value.

Due to the unique characteristic of the sea, Haeundae forms a world-class ocean-rich belt, and as the largest domestic tourist destination visited by 10 million people annually, steady tourism demand is guaranteed. Additionally, residential lodging facilities are non-regulated products, which means relatively low entry barriers, further increasing their popularity among this group.

Industry experts predict that the footsteps of Geumtoe-jok heading to Haeundae will become even more distinct. Recently, various marine tourism and leisure development projects centered around the beach have been continuously announced, raising expectations for future regional value appreciation.

In fact, in Haeundae, luxury residential facilities centered around LCT and marine tourism leisure facility developments are progressing one after another. An 'International Conference Complex District' is being established to build a world-class MICE (Meetings, Incentives, Conventions, and Exhibitions) ecosystem, and the nearby Osiria Tourism Complex development project is also progressing smoothly.

A real estate expert said, “Haeundae’s future value is expected to rise due to various developments such as luxury residential facilities centered around LCT, the International Conference Complex District, and the Osiria Tourism Complex, making it highly valuable from a long-term investment perspective, which will increase the number of investors. Especially, residential lodging facilities that can absorb this demand are expected to have even higher investment value, so the footsteps of Geumtoe-jok who want both cash flow and profitability as well as asset value are expected to continue steadily.”

Meanwhile, Hillstate Haeundae Central is selling penthouse-type residential lodging facilities with a total of 238 units, ranging from 42 to 149㎡ in exclusive area, located in U-dong, Haeundae-gu, Busan, with 8 basement floors and 41 above-ground floors.

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