Private rental apartments with brand-name complexes are also gaining popularity. Since they are constructed by private developers, they offer products and interior finishes comparable to general sale brand apartments, providing relatively greater advantages in terms of quality compared to public rental housing.
According to industry sources, rental apartments in the past were considered lower in quality and design compared to private sale apartments and were regarded as housing for low-income families. However, recently, mid-sized and large construction companies have been entering the rental apartment market one after another, raising its status.
In fact, 'Jeonju Eco City Desiang Nest' by Taeyoung Construction, located in Songcheon-dong, Deokjin-gu, Jeonju-si, Jeollabuk-do, attracted attention by emphasizing a high-end private rental apartment, including the creation of a 1,614㎡ sports center within the complex featuring a multipurpose indoor gymnasium and an indoor golf range.
Amid this trend, brand-name private rental apartments are also heating up in subscription demand. In September last year, Lotte Construction launched the private rental apartment 'Suji-gu Office Station Lotte Castle Hive L' in Yongin-si, Gyeonggi-do, which attracted 162,683 applicants for 715 units, closing with an average competition rate of 227 to 1. The 84A type, which supplied the most units at 248, drew as many as 79,850 applicants. The competition rate in the metropolitan area alone soared to 643 to 1.
One major advantage of long-term general private rental apartments is the ease of subscription. Unlike public-supported private rental apartments, anyone aged 19 or older who is the head of a household can apply regardless of whether they have a subscription savings account or own a house. Additionally, rent increases are limited to within 5%, ensuring high residential stability. Another benefit is the absence of tax burdens such as acquisition tax and property tax.
An industry official said, "Recently, private rental apartments have become popular among actual users because mid- to large-sized construction companies have entered the market, applying brand names and incorporating specialized designs, luxurious landscaping, and advanced systems, allowing residents to enjoy the best living environment. Since homeownership status does not matter during the residence period, both homeowners and non-homeowners can use these apartments as a stepping stone to owning their own home, and moving to another place during the residence is also free."
Meanwhile, 'Hillstate DMC Station,' a long-term general private rental apartment constructed by Hyundai Construction in the Jeungsan-dong area of Eunpyeong-gu, Seoul, is scheduled to begin tenant recruitment in November. Hillstate DMC Station will be developed on a scale of 299 units across two buildings, ranging from basement level 5 to ground level 36, with three exclusive area types of 59㎡, 63㎡, and 75㎡.
As a private rental apartment applying the Hillstate brand, which has been verified nationwide, the product completeness is expected to be high. Specialized designs such as a preferred small-to-medium size unit composition, open balconies (in some units), and 4Bay slab-type structures (in some units) will be applied.
Hillstate DMC Station is a long-term general private rental apartment that allows stable long-term residence for 10 years, with price stability and no ownership-related taxes. It is expected to be recognized as an appropriate alternative for actual users who find it difficult to prepare funds amid soaring housing prices in Seoul.
The Digital Media City area where this complex is located is expected to have high future value due to various development benefits such as the planned Lotte Mall, Susaek Station area development project (planned), Linear Forest (planned), Daejang Hongdae Line (planned), and Gangbuk Transversal Line (planned). In addition, it is rich in living infrastructure including E-Mart, Homeplus, Megabox, the Oil Tank Culture Park, and Mapo Agricultural and Marine Products Market, and large-scale retail facilities are planned to be located within the complex, enabling a one-stop lifestyle.
Moreover, right in front of the complex is Digital Media City (DMC) Station, served by Subway Line 6, the Airport Railroad, and the Gyeongui-Jungang Line, boasting a triple station area location. Furthermore, major Seoul roads such as Gangbyeonbuk-ro and Naebu Circular Road are conveniently accessible, providing excellent transportation conditions.
Additionally, near Hillstate DMC Station are Maebongsan Neighborhood Park, Bulgwangcheon Stream, World Cup Park, Sky Park, Nanji Camping Site, and World Cup Park Golf Course, making it ideal for leisure and walks.
The model house for the complex is scheduled to open in November.
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