Hanwha Forena Busan Deokcheon, Formal Contracts Begin 'Today'

Following an average competition rate of 88.28 to 1, high contract rates are also expected
Excellent financial conditions including interest-free interim payments at the best location in Buk-gu, Busan
Official contracts will be conducted for 3 days from March 30 (Mon) to April 1 (Wed)

Hanwha Construction (CEO Choi Kwang-ho) is generating high expectations for a strong contract rate following the impressive subscription rate of 88.28 to 1 for ‘Hanwha Forena Busan Deokcheon,’ supplied through the reconstruction of the Deokcheon-dong area in Buk-gu, Busan.

Hanwha Forena Busan Deokcheon will hold official contracts over three days from March 30 (Monday) to April 1 (Wednesday) at the model house located in Deokcheon-dong, Buk-gu, Busan. To reduce concerns about COVID-19 infection, contracts are being conducted sequentially with time intervals. Additionally, financial conditions have been significantly eased with interest-free interim payments and installment plans (first payment of 10 million KRW, second payment 10% of the remaining balance), which is expected to increase buyers’ willingness to sign contracts.

Hanwha Forena Busan Deokcheon boasts an excellent location. It is situated adjacent to Sudeung Station on Busan Subway Line 3, offering outstanding public transportation access. Furthermore, it benefits from a superior metropolitan transportation network via Gupo Station on the Gyeongbu Line, Deokcheon IC on the Namhae Expressway, and Gimhae Airport. Moreover, as a flatland apartment in Busan, where mountainous terrain is prevalent, it holds rarity and high preference among buyers.

The living and educational infrastructure is also excellent. Various convenience facilities such as NewCore Outlet, Mega Mart, Hanaro Mart, and Bumin Hospital are located within a 1 km radius of the complex. Elementary, middle, and high schools including Deokseong Elementary, Deokcheon Middle, Deokcheon Girls’ Middle, and Nakdong High School are all within walking distance. Notably, the Culture Ice Rink Center, a complex facility combining sports and cultural amenities, is also nearby, allowing residents to enjoy diverse cultural activities.

Given its excellent location, a premium is expected in the future. In fact, apartment sale prices in the vicinity are on the rise. According to the Ministry of Land, Infrastructure and Transport’s actual transaction data, the ‘Deokcheon Samjeong Green Core’ apartment (built in 2007) with an exclusive area of 84㎡ in Deokcheon-dong, Buk-gu, Busan, was traded for 325 million KRW (15th floor) in February this year. This is an increase of 35 million KRW over approximately eight months from 290 million KRW (18th floor) in June last year. As redevelopment projects are actively promoted in Buk-gu, raising the area’s value and driving up nearby apartment prices, industry insiders explain that Hanwha Forena Busan Deokcheon is also expected to record a high premium in the future.

A sales official stated, “Hanwha Forena Busan Deokcheon is the first Forena brand apartment introduced in Busan, offering rarity as well as an excellent location, which made it highly preferred by buyers in the subscription market. Not only does it provide convenient living conditions, but it also offers reasonable financial benefits such as interest-free interim payments and installment contract deposits, so we expect a high contract rate following the excellent subscription results.”

Meanwhile, Hanwha Forena Busan Deokcheon consists of 6 buildings ranging from 2 basement floors to a maximum of 25 floors above ground, with a total of 636 households. The units are composed of 243 households of 59㎡, 263 households of 74㎡, and 130 households of 84㎡.