- Real Estate Indicators Recovering... Unsold Inventory Also Decreasing
- 'Hillstate Pyeongtaek Hwayang' Now Selling on a First-Come, First-Served Basis
A favorable breeze is blowing through the real estate market thanks to the ‘Real Estate 1.3 Measures’ and three consecutive interest rate freezes. Indicators related to the real estate market, such as the appearance of hundreds-to-one competition rates, rising consumer sentiment indices in the real estate market, and a decrease in unsold apartments, are all moving in a positive direction.
According to data from the Korea Real Estate Board’s Subscription Home, the ‘Yeongdeungpo Xi Dignity,’ which was the first to be sold in Seoul after the introduction of the ‘Real Estate 1.3 Measures’ last January, attracted 19,478 applications for 98 general sale units excluding special supply, recording an average competition rate of 198.76 to 1. Following the successful completion of sales supported by government deregulation, other newly launched complexes in Seoul also recorded high competition rates.
The real estate market consumer sentiment index has also been on the rise until April following the announcement of the ‘Real Estate 1.3 Measures.’ When the consumer sentiment index exceeds 100 points, it indicates a significant increase in prices or transactions. In April, it recorded 97.4 points, raising expectations that it will reach triple digits for the first time in about 10 months.
In addition, the nationwide inventory of unsold houses is also showing a downward trend. According to data from the Ministry of Land, Infrastructure and Transport, as of the end of March, the nationwide unsold housing stock was 72,104 units, down 4.4% from the previous month, marking the first decline since April last year. In April, it further decreased by 739 units, continuing the downward trend for two consecutive months.
The city of Pyeongtaek, where ‘Hillstate Pyeongtaek Hwayang’ is being built, recently announced a ‘Compact City’ plan with approximately 33,000 households, further increasing expectations for population growth. In fact, Pyeongtaek’s population has been rapidly increasing, rising about 30% from 430,000 in 2012 to 584,986 as of the end of May this year. Moreover, with more jobs expected to be created in the future, Pyeongtaek aims to become a city of one million people by 2040.
A sales official explained, “As the real estate market gradually recovers, consumer sentiment regarding housing purchase demand is changing positively, and more buyers are paying attention to the future value of Pyeongtaek. Due to this influence, the unsold inventory in the Seo-Pyeongtaek Hwayang district is decreasing, and especially ‘Hillstate Pyeongtaek Hwayang,’ located in the ‘first spot’ of the Hwayang district, is accelerating its first-come, first-served sales.”
In this market environment, the ‘Hillstate’ large-scale apartment complex located in the ‘first spot’ of the Hwayang district in Pyeongtaek, which has outstanding future value, is attracting attention. It is ‘Hillstate Pyeongtaek Hwayang,’ currently being sold in Pyeongtaek, Gyeonggi Province.
Once completed, the Hwayang district is expected to accommodate about 20,000 households and approximately 54,000 residents. It is anticipated to offer excellent living conditions with residential facilities as well as public institutions and educational facilities. Additionally, being close to industrial complexes within Pyeongtaek Port, it is attracting attention as a residential area for industrial complex workers, which is expected to play a significant role in transforming Pyeongtaek into a representative self-sufficient city in the southern metropolitan area.
‘Hillstate Pyeongtaek Hwayang’ is the largest single BL (Block Lot) within the Hwayang district and the first ‘Hillstate’ brand apartment there. The complex is located in the Hwayang district of Pyeongtaek, Gyeonggi Province, and is constructed by Hyundai Engineering. It is currently progressing smoothly with first-come, first-served building and unit designation contracts underway.
For these first-come, first-served building and unit designation contracts, anyone aged 19 or older can immediately select and contract their desired unit regardless of their residence area, home ownership status, or subscription savings account possession.
The complex will be built with 14 buildings ranging from two basement floors to 31 floors above ground, totaling 1,571 units. The units are divided by exclusive area as follows: ▲72㎡ 149 units ▲76㎡ 76 units ▲84㎡A 929 units ▲84㎡B 315 units ▲84㎡C 102 units. Move-in is scheduled for March 2026.
‘Hillstate Pyeongtaek Hwayang,’ boasting outstanding living conditions even within the Hwayang district, allocates more than 40% of the site area (about 9,000 pyeong) to landscaping. A central park of approximately 1,700 pyeong with various tree species will be located within the complex, along with an ecological pond and walking trails. Additionally, a neighborhood park of about 4,270 pyeong is adjacent to the east side of the complex.
At the center of the complex, a ‘big-scale’ community facility of about 1,100 pyeong will be established. Due to its large size, the facilities will be diverse, including sports facilities, hobby activity spaces, and facilities for children to accommodate residents’ various life cycles. To support the increasingly important ‘work-life balance,’ a golf practice range, a G.X room, and a large fitness center will be introduced, attracting much attention from prospective buyers.
Moreover, the complex will feature rare facilities for an apartment such as a music practice room and an AV room, as well as various amenities including a daycare center, a community care center, a library, and a senior citizens’ center. A mom & kids caf?, where families can enjoy quality time together, will also be established, drawing significant interest from buyers. Ample parking spaces are planned to prevent parking shortages.
The contract terms are a fixed deposit of 10 million KRW (first payment), 60% of the intermediate payment interest-free in full, and 30% for the balance. First-come, first-served building and unit designation contracts are available at the model house.
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