Recently, amid growing concerns about jeonse fraud due to the so-called ‘Villa King Incident,’ long-term general private rental apartments that receive guarantees from HUG (Housing and Urban Guarantee Corporation) for jeonse deposits, allowing tenants to live safely for extended periods, are attracting significant attention.
Since the lessor is a business entity rather than an individual and the HUG guarantee is secured, safe return of the rental deposit upon moving out is ensured. With increasing worries about the Villa King Incident and “empty shell” jeonse, the stability of rental fees is guaranteed, making these apartments a stable housing alternative in a declining housing market.
Additionally, while individually rented homes are inevitably sensitive to issues regarding rent and rent increases, long-term general private rental apartments set rents at reasonable prices compared to surrounding market rates, with rent increases capped at 5% annually, significantly reducing housing cost burdens. Moreover, tenants can reside for up to 10 years, making these apartments a stepping stone for homeownership during economic downturns rather than purchasing a home under financial strain.
According to industry insiders, “Due to the heavy burden of high interest rates and anxiety over jeonse fraud, more real demanders are choosing to live in rental housing while saving funds,” adding, “Especially, brand-name long-term general private rental apartments built by major construction companies offer specialized designs, high-end finishes, and various community facilities comparable to brand-name apartments for sale, resulting in high resident satisfaction.”
Meanwhile, Hyundai Construction is recruiting tenants for the long-term general private rental apartment ‘Hillstate DMC Station’ located in Jeungsan-dong, Eunpyeong-gu, Seoul.
Hillstate DMC Station will be developed with two buildings ranging from five basement floors to 36 above-ground floors, comprising 299 units in three types of exclusive areas: 59㎡, 63㎡, and 75㎡. Notably, all units are popular small-to-medium-sized layouts.
The complex is a long-term general private rental apartment allowing stable residence for 10 years, with price stability and no acquisition or holding tax burdens. Particularly, the provision of priority purchase rights to residents after 10 years further enhances the value of the complex. Residents living there at the time of sale conversion will be granted priority purchase rights.
Moreover, Digital Media City (DMC) Station, served by Subway Line 6, the Airport Railroad, and the Gyeongui-Jungang Line, is located right in front of the complex, boasting a triple-station area. In the future, with the planned opening of the Daejang-Hongdae Line and the Gangbuk Transversal Line at DMC Station, it will become a super-transfer station area. Additionally, major Seoul roads such as Gangbyeonbuk-ro and Naebu Sunhwan-ro are conveniently accessible.
Hillstate’s exclusive smart home system ‘Hi-oT,’ unmanned parcel lockers, the Hillstate Energy Management System (HEMS), intelligent lighting control systems in the underground parking lot (corridor zones), energy-saving systems, unmanned security systems, and entrance safety cameras will be installed. Home network wall pads and smartphone automatic parking location systems will also be provided to enhance residents’ convenience. System air conditioners are installed in all rooms, and built-in refrigerators and induction cooktops are included. Pantry closets in the entrance (hallway) and dressing rooms are also standard in the design.
Meanwhile, Hillstate DMC Station is operating a model house and is conducting a special rental condition promotion limited to January and February.
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