- Centum Area Rises as a National Rich Belt Beyond Busan, Future Value Increases with Successive Development Benefits
- Hyundai Engineering's 'Hillstate Centum The First' Sale News Draws Attention
The area stretching from Centum City through Haeundae Marine City and Dalmaji Hill is known as the so-called ‘Busan Rich Belt.’ It is considered Busan’s premier affluent neighborhood due to its waterfront location adjacent to the Suyeong River and the sea in front of Haeundae. A new housing supply opportunity is scheduled in this Busan Rich Belt.
The Busan Centum area is highly regarded not only for its excellent residential environment but also for its high future value, as large-scale development projects are underway throughout the region. Notably, the Centum 2 District Urban High-Tech Industrial Complex development is being promoted around Centum City, attracting significant attention. Selected as an urban convergence special zone in 2021, Centum 2 District is set to become a core hub of the Busan-Ulsan-Gyeongnam (BooUlGyeong) Mega City by 2027, with plans to establish a high-tech industrial complex for businesses and young professionals.
Transportation improvements are also ongoing. A representative example is the Mandeok-Centum underground expressway (scheduled for 2024). This road will connect Mandeok-dong in Buk-gu and Centum in Haeundae with a four-lane, 9.62 km underground route at depths of 40 to 70 meters. Once opened, it is expected to significantly improve traffic flow on the chronically congested surface roads such as Mandeok-daero, Chungnyeol-daero, and Jungang-daero.
Additionally, the ‘Wave City’ project, which will develop ultra-high-rise office and commercial facilities equipped with entertainment, video, gaming, software companies, and resident convenience facilities, is expected to commence construction. Once these projects are completed, the residential conditions in the area are anticipated to improve further.
Given these circumstances, the Centum area has proven its popularity with recently launched complexes closing with high subscription competition rates. According to the Korea Real Estate Board’s subscription website, the ‘Centum Astrum SK VIEW’ in Banyeo-dong, Haeundae-gu, Busan, which was launched in May, received 19,525 applications for 258 units (excluding special supply), closing with an average competition rate of 75.68 to 1. Particularly, the 84㎡A type saw 7,548 applicants for 35 units, achieving the highest competition rate of 215.66 to 1.
An industry insider explained, “The popularity seems to stem from the fact that it is a new apartment supplied after two years in Haeundae-gu, where new supply is scarce, and it is located within the Centum living zone where residents can enjoy shopping and cultural infrastructure within Busan Centum City.”
Continuing its steady popularity, Hyundai Engineering is set to introduce ‘Hillstate Centum The First’ along the Suyeong River in the Busan Centum area.
‘Hillstate Centum The First’ is a residential officetel complex consisting of four buildings ranging from three basement floors to 37 above-ground floors, with units sized between 61 and 84㎡, totaling 447 units. It is designed as a complex-type officetel with various community and landscaping features, structured similarly to an apartment complex with four buildings.
Hillstate Centum The First is located right in front of the Suyeong River, offering a pleasant residential environment. Some units will have permanent views of the Suyeong River directly in front of the complex, along with sea views, enhancing the premium scenic quality and comfort.
Moreover, being situated in the Centum area, residents can share the Centum City living zone amenities such as Shinsegae Department Store, BEXCO, Lotte Department Store, and the Busan Cinema Center. Nearby Costco and E-Mart Traders add to the convenience.
The complex offers easy access to and from Busan city via Jasuyoung-ro, Gwajeonggyo Bridge, and Beonyeong-ro, and has excellent regional transportation connectivity with easy access to the Gyeongbu Expressway. Additionally, the Mandeok-Centum underground expressway, considered the largest transportation advantage in the Centum area, is scheduled to open in 2024, further improving transportation conditions.
Hillstate Centum The First is primarily oriented southward, with open views secured to enhance openness, sunlight, and ventilation. All units are mainly small to medium-sized types, which are rare along the Suyeong River. The interior layout follows the same structural design as general apartments, applying a four-bay slab-type layout (except for some types) to increase residential convenience. Furthermore, each type includes features such as dressing rooms and utility rooms to expand storage space and maximize spatial utilization.
Additionally, the complex will introduce a main entrance gate to elevate residents’ dignity, create a rooftop garden to provide a relaxing daily life, and offer fitness facilities and individual storage rooms for residents’ health and convenience.
A sales official stated, “There is a shortage of new supply and many aging houses along the Suyeong River in the Centum area, so there is abundant waiting demand for new residential complexes. Interest in this complex is already considerable. Also, the fact that it offers rare small to medium-sized residential units along the Suyeong River is attracting high attention.”
The model house for Hillstate Centum The First is scheduled to open in August.
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