Reasons for Interest in Landmark Residential Complexes... Up to 49 Floors Landmark 'Hillstate Asan Central'

- High-rise landmark residential-commercial complex shows about twice the price increase rate compared to low-rise complexes
- 'Hillstate Asan Central,' the tallest 49-story landmark residential-commercial complex arriving in Asan Old Downtown

[Hyundai Engineering, 'Hillstate Asan Central' Perspective View]

High-rise landmark residential-commercial complexes with 40 floors or more in various regions are standing tall with special value, making a prominent mark in the real estate market. They are experiencing significant price appreciation, forming higher price differences compared to their initial sale prices than regular complexes.

In fact, high-rise landmark residential-commercial complexes have recorded higher price gains relative to their sale prices compared to the relatively low-rise complexes located nearby.

According to data from the Ministry of Land, Infrastructure and Transport’s real transaction price disclosure system, ‘Kintex Kkum-e Green,’ a landmark residential-commercial complex supplied in Ilsan with a maximum height of 49 floors, was the only complex in the area to surpass 1 billion KRW in transactions this year. In July, this complex was traded at 1.25 billion KRW (exclusive area 84㎡), which is more than twice the price of 460 million KRW (exclusive area 84㎡) for ‘Daehwa Maeul Dongmun (Complex 3),’ a 17-floor apartment in the vicinity, traded in the same month.

Also, ‘Cheongju J-Well City Prugio,’ a landmark complex with a maximum height of 49 floors in Bokdae-dong, Heungdeok-gu, Cheongju, Chungbuk (occupied since October 2019), saw its 84.679㎡ unit traded at 750 million KRW on the 47th floor last November, about 400 million KRW higher than its sale price of 352.2 million KRW. In comparison, the 84.9314㎡ unit of ‘Bokdae Doojin Hatrium,’ the tallest complex in the same Bokdae-dong with 25 floors (occupied since November 2015), was traded at 460 million KRW on the 9th floor last August, rising about 200 million KRW from its sale price of 269 million KRW. This shows that the price increase for the landmark complex was about twice as high.

An industry insider stated, “High-rise landmark residential-commercial complexes tend to have higher housing prices due to their symbolic and scarcity value,” adding, “Especially, their price appreciation rates are often 2 to 3 times higher than those of nearby low-rise complexes, driving local market prices and attracting strong interest from buyers.”

Amid the strong premium growth of high-rise landmark residential-commercial complexes, a landmark complex with a maximum height of 49 floors is scheduled to be introduced in the core area of the original downtown of Asan City, Chungcheongnam-do. The protagonist is ‘Hillstate Asan Central,’ which Hyundai Engineering plans to launch in October.

Located in the Oncheon-dong area of Asan City, this complex will be a landmark residential-commercial complex consisting of 6 buildings ranging from 6 basement floors to a maximum of 49 floors above ground. It will offer a total of 1,213 units, including 893 apartment units with exclusive areas of 84 to 127㎡ and 320 residential officetel units with an exclusive area of 92㎡.

This complex is expected to become a new landmark as a Hillstate brand complex with a maximum height of 49 floors right in the heart of Asan’s original downtown. Especially, being located in the original downtown means convenient access to abundant existing living infrastructure and promising future value due to transportation benefits. It is a station-area complex near Onyang Oncheon Station on Subway Line 1, and the Asan Intercity Bus Terminal is also located within 1 km, making it convenient to use metropolitan transportation. For car users, access to National Road No. 39 via nearby Chungmu-ro is easy, facilitating entry and exit to the Seoul metropolitan area. The first section of the Asan-Cheongju Expressway (scheduled for 2025), the Asan-Cheonan section, is set to open this December. All nearby elementary, middle, and high schools are within walking distance, and shopping and living infrastructure are conveniently accessible, increasing interest from both actual residents and investors.

The model house for ‘Hillstate Asan Central’ is scheduled to open in October.

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