'Hillstate Gwacheon Decentro' Officetel Sets Sail with First-Come, First-Served Contract Momentum

- Studio-type exclusive 25㎡ followed by two-room exclusive 56㎡ and 56㎡ Type A all sold out
- Proximity to stations, future value, product appeal, and sales conditions all met, sustaining buyer interest

Last month, following the news of the full sale of the 25㎡ officetel-exclusive type at 'Hillstate Gwacheon Decentro' in Gwacheon Knowledge Information Town, it was recently reported that the 56㎡ and 56㎡A types have also been completely sold out, with prospective buyers continuously visiting for first-come, first-served contracts.

Hillstate Gwacheon Decentro is a residential complex combining officetels, section offices, and commercial facilities, located in Commercial Blocks 1-2 and 3 (Phase 1) and Commercial Blocks 3-1 and 3-2 (Phase 2) of Gwacheon Knowledge Information Town, Gwacheon-si, Gyeonggi-do. The complex consists of two buildings, one in each block, ranging from six basement floors to 15 above-ground floors.

The officetels range from 25 to 84㎡ in exclusive area, totaling 359 units (126 units in Phase 1 and 233 units in Phase 2). The offices range from 25 to 75㎡, totaling 298 units (130 units in Phase 1 and 168 units in Phase 2), and the commercial facilities comprise 99 units (59 units in Phase 1 and 40 units in Phase 2).

The industry attributes the smooth contract progress of Hillstate Gwacheon Decentro to its station-area location, the future value of Gwacheon Knowledge Information Town, the Hillstate brand and product quality, and excellent sales conditions.

In fact, the complex is developed as a station-area complex adjacent to the planned Gwacheon Information Town Station on Subway Line 4, boasting convenient transportation. Additionally, nearby is the Government Complex Gwacheon Station on Subway Line 4, where future GTX-C line and Wirye-Gwacheon Line construction plans are scheduled, which is expected to improve accessibility to Gangnam and other parts of Seoul.

Moreover, Gwacheon Knowledge Information Town, where the complex is located, is gaining prominence as a future industrial hub in the Gangnam area, with IT, construction, electrical, electronics, pharmaceutical, and new material companies relocating one after another, enhancing its future value.

In fact, various companies such as Pearl Abyss, Netmarble, Kolon Global, JW Group, and Kwangdong Pharmaceutical Co., Ltd. have either completed or are in the process of moving in. This is expected to attract high-income buyers with purchasing power, which the industry forecasts will significantly increase the local real estate value.

Additionally, the complex features differentiated designs under the Hillstate brand. The officetels offer a wide range of layouts from studio types to residential types, expanding choices for buyers.

The main layout, the 53㎡ exclusive type, is designed as an optimized space for one- to two-person households. It features a 1.5-room structure, a bedroom, a premium dressing room, storage space, specialized floor finishes and art walls, and options such as an electric combination oven provided free of charge.

The residential officetel types of 80㎡ and 84A㎡ exclusive area adopt a four-bay slab-type structure similar to apartments, incorporating a living room, kitchen, premium dressing room, storage space, and a separate laundry room for added comfort. Notably, the residential officetels provide free options that enhance residents' convenience, including the 'Smart Shower Canvas H,' which won the 2021 Good Design Award, entrance sliding doors, specialized floor finishes and art walls, Bespoke one-door refrigerator/freezer, and electric combination oven.

Hillstate Gwacheon Decentro also draws attention with sales conditions that reduce buyers' burdens. In particular, the complex offers a fixed contract deposit of 10 million KRW and full interest-free benefits on intermediate payments, significantly lowering the initial investment burden for contract holders. Since the entire intermediate payment loan is interest-free, there is no interest cost burden due to rising interest rates, and no additional financial burden until move-in, which is a merit.

A sales official stated, "Since the end of April, the revised regulation that calculates the total debt service ratio (DSR) for officetel mortgage loans with an 8-year maturity in the same way as general housing mortgage loans (up to 30 years maturity) has been fully implemented, allowing buyers to enjoy related benefits. Many visitors continue to come for first-come, first-served contracts for some remaining types," adding.

First-come, first-served contracts for Hillstate Gwacheon Decentro are conducted at the model house.