- ‘Gususan Hwaseong Park Dream’ and ‘Duryu Station Xi’ emerge as popular complexes... Real demand gathers around location and brand elements
- ‘Hillstate Dongdaegu Central’ attracts attention with well-rounded location, future value, and brand
A polarization phenomenon is occurring in the Daegu real estate market, which has been in a downturn due to continued interest rate and inflation increases.
In September, the Ministry of Land, Infrastructure and Transport held a Residential Policy Deliberation Committee meeting and lifted regulations on all areas of Daegu. Many industry experts predicted that the atmosphere would shift as much as the numerous regulations that had been imposed mainly on metropolitan cities in the provinces. However, the outcome was different from expectations. According to the Korea Real Estate Board, about 30 complexes were sold in Daegu from January to October this year, but none achieved notable subscription results. In the first half of this year, all 10 complexes sold remained unsold, and it was difficult to see subscription rates above 1:1 even through the second half.
Amid the ongoing chill, some complexes have shown signs of warmth. ‘Hwaseong Park Dream Gususang Park,’ sold in Eumnae-dong, Buk-gu in August, received a total of 1,510 applications over two days of subscription, closing within ranking with a highest competition rate of 4.67 to 1. Also, ‘Duryu Station Xi,’ launched by GS Construction in Naedang-dong, Seo-gu in October, recorded a highest first-priority competition rate of 11.2 to 1, the highest in Daegu this year. These complexes are interpreted as attracting genuine buyers due to excellent locations and product features such as private special park projects and top-tier brands.
A real estate industry expert said, “Although the Daegu real estate market is depressed, the subscription results of ‘Hwaseong Park Dream Gususang Park’ and ‘Duryu Station Xi’ show that where it can succeed, it does,” adding, “At the same time, it indicates that genuine demand still exists in the Daegu real estate market, and both complexes are reportedly entering the final stages of selling out.”
With the proof that genuine demand remains alive in the Daegu real estate market, Hyundai Construction is launching a new sale of ‘Hillstate Dongdaegu Central’ in an area predicted to become a new residential town.
‘Hillstate Dongdaegu Central’ will be developed in Sincheon-dong, Dong-gu, Daegu Metropolitan City, consisting of 4 apartment buildings ranging from 6 basement floors to a maximum of 36 floors above ground (up to 35 floors by household), with 481 units sized 84 to 124㎡, and one residential officetel building with 62 units sized 84㎡, totaling 543 units.
‘Hillstate Dongdaegu Central’ holds high future value due to major development benefits such as the redevelopment of the former sites of MBC, Dongbu Fire Station, court, and prosecutor’s office, activation of Dongdaegu Venture Valley, and the opening of the EXCO Line. It offers the advantage of enjoying both Dongdaegu Station and Suseong-gu living areas, as well as close proximity to Suseong-gu’s excellent educational environment.
First, with the relocation of MBC near the project site, various cultural and commercial facilities are expected to be established, further expanding the already excellent living infrastructure.
Additionally, Daegu Mayor Hong Jun-pyo’s ‘7 Major Visions for Daegu’ include plans to activate the ‘Dongdaegu Venture Valley.’ The ‘Dongdaegu Venture Valley’ is a 2 km venture business promotion district along Dongdaegu-ro from Dongdaegu Station intersection to Beomeo intersection. It aims to grow into the Yeongnam region’s ‘business hub’ connecting the metropolitan area and the southern region, alongside redevelopment of the former sites of Dongbu Fire Station, court, and prosecutor’s office. The former sites will be developed as a base for a healthy startup ecosystem, with the goal of becoming the Yeongnam region’s ‘business hub’ linking the metropolitan and southern regions.
The excellent educational environment is also noteworthy. The complex is within walking distance to Sincheon Elementary, Cheonggu Middle and High, and Daegu Jungang Middle and High Schools. More importantly, it offers access to prestigious Suseong school districts such as Gyeongsin High, Daeryun High, Gyeongbuk High, and Daegu Girls’ High, and is close to Suseong-gu’s academy district.
The residential conditions are outstanding as well. ‘Hillstate Dongdaegu Central’ is located at the center of Dongdaegu Station and Beomeo Station, offering a double living zone that allows residents to enjoy both Dongdaegu Station and Suseong-gu living areas. It is convenient for public transportation with Daegu Metro Line 1 Dongdaegu Station, Line 2 Beomeo Station, KTX·SRT Dongdaegu Station, and the Dongdaegu Station complex transfer center nearby.
Moreover, it is easy to travel within and outside the city via Dongdaegu-ro and Dalgubeol-daero, and access to Dongdaegu IC and Suseong IC is convenient, providing excellent metropolitan transportation networks. Additionally, the EXCO Line (connecting Suseong-gu Sports Complex Station, Beomeo Station, MBC Intersection, Dongdaegu Station, and Isiapolis) is scheduled to open in 2028, further improving transportation conditions.
The living infrastructure is also excellent. Nearby are E-Mart Manchon Branch, Shinsegae Department Store Daegu Branch, Hyundai City Outlet Daegu Branch, and Megabox, making shopping and cultural life convenient. The Daegu District Court and government offices are also not far, facilitating administrative tasks, and green spaces such as Yasigol Park and Beomeo Park provide a pleasant environment for leisure activities.
In particular, along with outstanding future value and location conditions, ‘Hillstate Dongdaegu Central’ will be constructed as a ‘Hillstate’ apartment, Korea’s representative brand that has ranked first in apartment brand reputation index for 44 consecutive months.
Meanwhile, the model house for ‘Hillstate Dongdaegu Central’ is scheduled to open in December.
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