[Asia Economy Reporter Yuri Kim] Hyundai Engineering has received more than 87,000 subscription applications for the residential officetel "Hillstate Doan" supplied in Doan New Town, Daejeon.
According to the Korea Real Estate Agency's subscription homepage on the 28th, a total of 87,397 applications were received for 392 units of Hillstate Doan as of the previous day, recording an average competition rate of 223 to 1. The highest competition rate was in District 4 (exclusive area 63㎡ type, 1 unit), where 5,993 applications were submitted, resulting in a competition rate of 5,993 to 1.
Despite the impact of the novel coronavirus (COVID-19), prospective subscribers continued to visit the Hillstate Doan model house, which opened on the 23rd. Over four days, including the weekend, about 21,000 people visited the model house.
A sales official stated, "Interest was high because it is the first Hillstate brand complex in Daejeon and because it is a small-to-medium sized product with high scarcity value in Doan New Town." Since the complex consists of residential officetels, it is relatively free from regulations. It is not included in the housing count, so it can avoid regulations on multi-homeowners and has no resale restrictions.
Hillstate Doan is being constructed on lots 677-1 and 2, Yonggye-dong, Yuseong-gu, Daejeon, consisting of three buildings with 5 basement floors and 29 above-ground floors, with exclusive areas of 27, 63, and 84㎡, totaling 392 units.
The winners will be announced on the 6th of next month, and the official contract will be conducted from May 7 to 9. The model house is located at lot 267-5, Jangdae-dong, Yuseong-gu, Daejeon.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
