Hyundai Engineering Supplies "Hillstate Yongin Foret"... No Tax Burden as Units Are Excluded from Home Ownership Count

Up to 8 Years of Stable Corporate Private Rental
Large-Scale Complex with 1,950 Units

Perspective view of Hillstate Yongin Foret in Cheoin-gu, Yongin-si, Gyeonggi Province. Hyundai Engineering

Hyundai Engineering announced on October 30 that it is supplying the Hillstate Yongin Foret, a large-scale corporate private rental housing complex, in Samga-dong, Cheoin-gu, Yongin-si, Gyeonggi Province. The complex consists of 13 buildings with a total of 1,950 units, ranging from 59 square meters to 84 square meters of exclusive area, with five basement levels and up to 38 floors above ground.

Residents can enjoy stable tenancy for up to eight years, and the rent increase rate is limited to within 5%. As these units are not counted as owned homes, there is no burden of acquisition tax, comprehensive real estate tax, or property tax. In addition, with a rental guarantee subscription through the Korea Housing & Urban Guarantee Corporation (HUG), the security of deposit returns is ensured.

The brand premium is also a strong advantage. Hillstate has ranked first for 79 consecutive months in the apartment brand reputation survey conducted by the Korea Corporate Reputation Research Institute. The complex features a four-bay flat-type design, specialized spaces such as dress rooms and alpha rooms (except for some types), maximizing spatial efficiency. The alpha room can be used as a study, home office, hobby room, or for other purposes, depending on the resident's lifestyle.

A variety of community facilities are provided, including a fitness center, indoor golf practice range, small library, and moms' cafe. Within the complex, there will also be green spaces such as the "Green Community Yard" with waterfront facilities, a children's playground, and a silver garden.

The location is also excellent. The Everline City Hall and Yongin University stations are nearby, and transfers to the Suin-Bundang Line and GTX-A are possible, offering easy access to Gangnam and Pangyo. The area is also served by major highways such as the Gyeongbu Expressway and the Sejong-Pocheon Expressway.

Perspective view of Hillstate Yongin Foret in Cheoin-gu, Yongin-si, Gyeonggi Province. Hyundai Engineering

Samga Elementary School is located next to the complex, securing its status as a "Chopuma" (an apartment complex with an elementary school within walking distance). The nearby Yeokbuk 2 Neighborhood Park (currently under development) is expected to further enhance the residential environment. Residents will also benefit from abundant local infrastructure, including Yongin City Hall, Emart, and Lotte Cinema.

In addition, large-scale development projects such as the Yongin Yeoksam City Development, SK Hynix Semiconductor Cluster, and Yongin Advanced System Semiconductor National Industrial Complex are underway, which are expected to increase the area's future value.

The occupancy permit for the complex will be granted after the completion of the main access road and the donation of the middle school site. According to the law, the units can be converted to sales after eight years from the initial move-in date.

The promotional center is located in Yeokbuk-dong, Cheoin-gu, Yongin-si, and move-in is scheduled for December of this year.

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