Hyundai Construction Supplies 'Hillstate Incheon City Hall Station' in Emerging Residential Town

- Formation of a New Apartment Complex through Housing Improvement Projects... Expectations for Future Value with Transportation, Education, and Other Facilities
- Excellent Subscription Results... Attention Focused on This Year's Sale Complexes Including 'Hillstate Incheon City Hall Station'

The area forming a new residential town transformed through housing improvement projects is attracting attention in the real estate market. The emerging residential town is expected to have high future value as outdated complexes are reborn as new ones, and various facilities such as transportation, education, culture, and parks are established. Additionally, the brand premium of newly built complexes is also highly valued.

This phenomenon is even more pronounced in old downtown areas densely populated with aging houses scheduled for redevelopment and reconstruction. Since residents can immediately enjoy solid underlying demand and well-established living infrastructure upon moving in, residential convenience is secured. Moreover, as new apartments are built in areas densely packed with old complexes, they are considered highly scarce and liquid, leading to analyses that they will establish themselves as residential hubs.

In fact, complexes entering emerging residential towns have achieved excellent results. According to the Korea Real Estate Board’s subscription website, in October, ‘Yangjeong Xi The Sharp SK View’ in Yangjeong-dong, Busanjin-gu, Busan Metropolitan City, sold out with an average competition rate of 58.9 to 1 in the first-priority subscription. The Yangjeong-Yeonsan emerging residential town, where the complex is located, is a large-scale brand town of about 9,000 households and is recognized as a representative residential area in central Busan.

Also, ‘Incheon City Hall Station Hanshin The Hue (May)’ and ‘Hanwha Forena Incheon Guwol (July)’, supplied in the new residential belt area from Guwol-dong to Ganseok-dong near Incheon City Hall Station, completed first-priority subscriptions with average competition rates of 19.1 to 1 and 8.5 to 1, respectively.

A real estate expert said, "Emerging residential towns are firmly supported by demand from existing residents as well as those looking at future value and living conditions," adding, "Since the demand base is solid, price increases can be expected in the future."

Meanwhile, new sales are taking place in areas poised to become emerging residential towns by the end of the year.

Hyundai Construction is currently selling ‘Hillstate Incheon City Hall Station’ through the redevelopment of Baegun Housing District 1 in Ganseok-dong, Namdong-gu, Incheon. The complex consists of 9 buildings, ranging from 3 basement floors to 28 above-ground floors, with a total of 746 households and exclusive areas of 39 to 84㎡. Among these, 485 households with exclusive areas of 59㎡ and 84㎡ will be offered to the general public. Various large and small maintenance projects such as redevelopment, reconstruction, and street housing projects are underway or planned around the complex.

Also, ‘Hillstate Incheon City Hall Station’ enjoys convenient transportation as a triple station area with Incheon Subway Lines 1 and 2 and the planned GTX-B transfer station at Incheon City Hall Station. In addition, various infrastructures such as Incheon Metropolitan City Hall, Incheon Metropolitan Office of Education, Incheon Metropolitan Council, Incheon Metropolitan Police Agency, Incheon Family Court, Nam Incheon Post Office, Incheon Police Agency, and Incheon Culture & Arts Center are well established nearby.

‘Hillstate Incheon City Hall Station’ is composed mainly of mid- to small-sized units preferred by actual users and is arranged mainly facing south to maximize natural lighting. It adopts a 4Bay slab-type design (except for some units) for excellent ventilation and secures sunlight rights with ample distance between buildings.

When balconies are expanded, European system windows and triple glazing will be applied to living room and bedroom exterior windows to allow for wider space utilization and elegant design. Additionally, customizing options are provided to accommodate rapidly changing lifestyles of residents. The kitchen is equipped with a food waste disposal system for convenient food waste discharge within the unit.

The winners will be announced on the 28th (Wednesday), and the official contract will be conducted over three days from January 9 (Monday) to January 11 (Wednesday), 2023.

Hyundai Construction’s ‘Hillstate’ has been widely recognized for its brand value, ranking first in apartment brand reputation for 45 consecutive months from April 2019 to December 2022 in the monthly apartment brand evaluation survey conducted by the Korea Corporate Reputation Research Institute.

‘Hillstate Incheon City Hall Station’ is currently operating a model house.

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