Must Secure Before Prices Rise... 'Hillstate Pyeongtaek Hwayang' Draws Attention

- Continuous Rise in Sale Prices Drives Buyers to Secure Homes Before It's Too Late
- Prime 300 Million KRW Complex 'Hillstate Pyeongtaek Hwayang' Now Accepting First-Come, First-Served Unit Reservations

Due to rising prices of construction materials and labor costs, construction expenses as well as sale prices are expected to steadily increase. In response, homebuyers seeking to purchase their own homes are actively looking for prime apartments, and 'Hillstate Pyeongtaek Hwayang,' a large-scale apartment complex under the 'Hillstate' brand available in the metropolitan area for around 300 million KRW, is gaining attention.

Recently, major cement companies reportedly raised the price of Type 1 bulk cement starting July due to increased electricity costs, and other companies are expected to follow suit. Accordingly, the industry views that construction and building costs, as well as labor and inflation, continue to rise, making it inevitable for sale prices to increase as well.

In fact, sale prices have been steadily rising. According to the Korea Housing & Urban Guarantee Corporation (HUG) data on 'June Private Apartment Sale Price Trends,' the nationwide average sale price was 16,216,200 KRW per 3.3㎡, up 0.5% from the previous month (16,137,000 KRW) and 11.4% higher compared to the same month last year (14,559,600 KRW). The average sale price in the metropolitan area was 22,585,200 KRW per 3.3㎡, an increase of 1.6% (353,100 KRW) from the previous month, marking a 12.2% rise compared to the same period last year.

A sales representative explained, “Due to the rise in construction material costs, sale prices are continuously increasing, and the perception that current prices are the most affordable is spreading among buyers. Especially in the metropolitan area, demand is increasing as buyers try to secure prime complexes before prices rise further.”

In this context, 'Hillstate Pyeongtaek Hwayang,' supplied at an affordable price in the 300 million KRW range in the metropolitan area adjacent to Seoul, is currently being sold.

The exclusive areas of 72㎡ and 76㎡ units at 'Hillstate Pyeongtaek Hwayang' are priced in the 300 million KRW range across all floors, and the 84㎡ unit, known as the 'national standard size,' starts from the high 300 million KRW range. Despite soaring sale prices due to rising material costs, it is possible to enter the metropolitan area with prices in the 300 million KRW range.

The complex is located in Block 5BL of the Hwayang District in Pyeongtaek City, Gyeonggi Province, and is constructed by Hyundai Engineering. Currently, sales are progressing smoothly with first-come, first-served contracts specifying building and unit numbers. It is the largest single block in the Hwayang District and the first apartment under the 'Hillstate' brand there.

Currently, first-come, first-served contracts specifying building and unit numbers are underway, and anyone aged 19 or older can contract regardless of residence area, home ownership status, or subscription savings account possession. The contract terms are 10% down payment, 60% interim payment, and 30% balance payment. The down payment is a fixed amount of 10 million KRW (first installment), and interest-free loans are provided for interim payments.

The complex will be built with 14 buildings ranging from 2 basement floors to 31 floors above ground, totaling 1,571 households. By exclusive area, there are ▲72㎡ with 149 units ▲76㎡ with 76 units ▲84㎡A with 929 units ▲84㎡B with 315 units ▲84㎡C with 102 units. Move-in is scheduled for March 2026.

Seo-Pyeongtaek, where 'Hillstate Pyeongtaek Hwayang' is located, plans to establish Anjung Station (scheduled for 2024). This station will serve as an important hub for passenger and freight transport on the Seohae Line and Poseung-Pyeongtaek Line. The Seohae Line is expected to connect directly with the KTX Gyeongbu Line in 2028, enabling travel from Anjung Station to the Seoul area within 40 to 50 minutes.

There are also abundant development benefits. Earlier in May, Pyeongtaek City signed an investment agreement with Hyundai Mobis to establish an automobile module production facility in the Seo-Pyeongtaek Poseung (BIX) District. This module plant is a production facility responding to finished car factories, with approximately 154 billion KRW invested on about 47,891㎡ of land. The city expects to create 520 jobs through this project, which is scheduled to begin production by the end of February 2025 and is set to break ground this month.

Near the complex, the long-awaited Hyundeok District development project in Pyeongtaek City is also underway. It aims for a complex development of distribution, commercial, tourism, and residential facilities over 2.32 million㎡, transforming into the 'Hyundeok Clean Economic City,' a leading city of the 4th Industrial Revolution featuring an eco-friendly hydrogen economy city, smart logistics future advanced city, and port complex cultural city. It is attracting attention as a catalyst for Seo-Pyeongtaek's development through linkage with Korea's first hydrogen energy convergence complex being promoted within the Poseung Industrial Complex.

Additionally, Pyeongtaek City is regarded as a region with high expectations to become a special city with a population of one million. According to data from the Ministry of the Interior and Safety, Pyeongtaek's population increased from 438,790 in July 2013 to 587,093 in July this year, a 33.79% increase over ten years. Earlier this year, Mayor Jeong Jang-seong announced plans to lay the foundation for a 'special city with one million population' in 2023, based on the city's development and changes as a metropolitan city of 500,000, and pledged to do his best to establish urban infrastructure befitting a city of one million.

'Hillstate Pyeongtaek Hwayang' boasts outstanding residential conditions even within the Hwayang District. More than 40% of the site area (about 9,000 pyeong) is allocated to landscaping, with a central park of approximately 1,700 pyeong featuring various tree species within the complex, as well as an ecological pond and walking trails planned. Additionally, a neighborhood park of about 4,270 pyeong is adjacent to the east side of the complex.

Moreover, the complex will include rare facilities for apartments such as a music practice room and AV room, along with various amenities like daycare centers, community care centers, libraries, and senior citizen centers. A Mom & Kids Cafe, where families can enjoy quality time, will also be established, attracting significant interest from buyers. Parking spaces will be constructed generously as well.