Popularity of Major Construction Company's First Local Brand Apartment! Spotlight on Pohang's First Hillstate Complex

The first branded apartment by a major construction company in the region is gaining popularity among housing demanders. As construction companies launch sales in new areas, they put great effort into presenting products that leave a strong ‘brand first impression.’

Additionally, as housing demanders’ expectations have recently risen, construction companies are making various efforts to establish a positive image by offering differentiated product features such as diverse specialized designs and community facilities. In the case of the first branded complex in a region, the rarity and symbolism of being the first branded complex supplied locally add to its appeal, resulting in great popularity in the sales market.

In fact, the popularity of the first branded complexes in regions has been intense. ‘Hillstate Sokcho Central,’ the first Hillstate branded apartment (including officetels) supplied in Sokcho City in July 2018, succeeded in closing all housing types within the ranking with an average competition rate of 9.2 to 1 and a maximum of 61.0 to 1 in subscription applications. Also, ‘Hillstate Doan,’ the first Hillstate branded complex supplied in Daejeon Metropolitan City last April, recorded an average competition rate of 222.9 to 1 with a total of 87,397 applicants for 392 units despite the COVID-19 situation. ‘Hillstate Doan’ sold out in a short period within just four days of contract signing, demonstrating the popularity of the first branded complex in the region.

A real estate expert said, “In the case of the first branded apartments supplied in a region, construction companies present products with advanced specialized designs, community facilities, reasonable prices, and excellent landscaping to captivate local residents,” adding, “Since the success or failure of subsequent complexes to be supplied later is greatly influenced, the first supply complex attracts particularly high attention.”

Hyundai Construction, a leading construction company in Korea, will supply ‘Hillstate Pohang’ for the first time in Pohang this November. Since there has been no new apartment supply in the past three years, there is abundant waiting demand for new apartments. Also, ‘Hillstate Pohang’ is the only planned supply in Pohang this year, creating high expectations. ‘Hillstate Pohang,’ developed as the largest large-scale apartment complex recently supplied in Nam-gu, is expected to lead Pohang’s residential culture and establish itself as the premier apartment in Pohang.

‘Hillstate Pohang’ also features a location environment that matches the recent hot keyword in the sales market, proximity to workplace. It is accessible within 10 minutes by car to POSCO Pohang Steelworks and Hyundai Steel Pohang Plant, representative companies of Pohang. In addition, all large-scale industrial complexes, including Pohang General and Steel Industrial Complexes, can be reached within 10 minutes, and with the Pohang Blue Valley National Industrial Complex and Gwangmyeong General Industrial Complex being developed, it is expected to directly benefit from development prospects.

Moreover, as it is supplied by Hyundai Construction, it will have differentiated community facilities. Plans include a fitness center, indoor golf practice range, and H i-Sup (indoor children’s playground). The complex will be built with 20 buildings ranging from 2 basement floors to 17 above-ground floors, with units sized between 59 and 84 square meters, totaling 1,717 households. Among these, 817 units are for general sale.

Meanwhile, ‘Hillstate Pohang’ plans to open a model house in November and begin full-scale sales. The model house is located at 618-11, Jukdo-dong, Buk-gu, Pohang-si, Gyeongsangbuk-do.