Daegu City, Rising Expectations for Deregulation of Adjustment Area... Interest in ‘Hillstate Dongin’

With the new government expected to hold a housing policy meeting in June shortly after its inauguration, Daegu City is raising expectations for the lifting of its designation as a regulated area.

The president-elect is leaning toward easing real estate regulations, and since lifting the regulated area status in Daegu was a regional pledge during the campaign, there is growing anticipation for the "lifting of the regulated area" measure.

Moreover, Daegu City has formed a public-private joint task force to stabilize the housing market and actively visited the Presidential Transition Committee on the 7th to request the removal of the regulated area designation, raising hopes that Daegu’s housing market will enter a turning point with the new government’s launch.

As Daegu’s expectations for the lifting of the regulated area designation grow, demand from buyers is increasing.

In Daegu, where the lifting of the regulated area is anticipated, Hyundai Engineering’s "Hillstate Dongin" is attracting attention as an unsold complex.

"Hillstate Dongin" is being developed in Dongin-dong 1-ga, Jung-gu, Daegu, consisting of five buildings ranging from four basement floors to a maximum of 49 floors above ground. The complex is a landmark large-scale development featuring 1,009 residential units (941 apartments and 68 residential officetels) and commercial facilities with a total floor area of approximately 11,556㎡.

Major development projects expected to increase value are also underway. Daegu City Hall, located in front of the complex, is planned to be redeveloped into a 65-story "Mega Library (complex facility)" with cultural, artistic, historical, green space, and knowledge industry functions. Additionally, since Jung-gu, Daegu, where the complex is located, was finally selected last year as the "MediCity Daegu Global Medical Special Zone," an influx of high-income medical professionals is also expected.

The ability to resell pre-sale rights before moving in also attracts investors’ attention. The current resale restriction period for pre-sale rights is specified as up to three years, but "Hillstate Dongin" is designed as a large complex with over 1,000 units, and since the construction period exceeds three years, resale before moving in is possible.

In particular, the contract offers a fixed deposit of 20 million KRW and a deferred interest benefit on 50% of the intermediate payment, allowing contract holders to resell before moving in under the condition of transferring the intermediate payment loan before the sixth installment of the intermediate payment.

Currently, "Hillstate Dongin," which is conducting first-come, first-served contracts successfully, consists of a single exclusive area of 84㎡, with the sale price set at a minimum of 544.9 million KRW. The average balcony extension fee is 21.72 million KRW, and even including the balcony extension fee, the price is cheaper than the surrounding market prices.

Meanwhile, "Hillstate Dongin" is operating a model house.