- Offered at prices up to 200 million KRW lower than nearby residential complexes... Significant price advantage
- Special supply subscription ratio recorded at 35:1, high expectations for first-priority subscription... First-priority subscription on Tuesday, September 26
Hyundai Construction is conducting first-priority subscription applications for ‘Hillstate Gwanak Centciel,’ located in the Ilwon area of Gwanak-gu, Seoul, on Tuesday, September 26. The complex has already raised expectations by recording a high competition rate of 35 to 1, with 1,750 applications submitted for 50 units during the special supply subscription.
According to real estate data from R114 on the 25th, the average apartment sale price in Seoul in September this year was 37.35 million KRW per 3.3㎡, marking an increase of about 44.04% in six months compared to March. For example, the average sale price per 3.3㎡ of the ‘A’ complex sold in Seongdong-gu, Seoul, in August was 37.46 million KRW, and the ‘B’ complex sold in Dongjak-gu in the same month was priced at 39.6 million KRW per 3.3㎡. In contrast, Hillstate Gwanak Centciel is offered at a reasonable price of around 34.3 million KRW per 3.3㎡, which is up to 3 million KRW less per pyeong.
Considering the scarcity of new complexes in Bongcheon-dong and the future value of its location near the planned Seobu Line light rail station, the sale price of Hillstate Gwanak Centciel is evaluated as even more reasonable. In fact, according to R114 data, this complex is the first new development with over 100 units to be sold in about seven years since ‘e-Pyeonhansesang Seoul National University Entrance’ (1,531 units).
Hillstate Gwanak Centciel is designed with four out of five types featuring a slab-type structure, and a cross-ventilation layout is applied (except for some units). The 59㎡B exclusive area offers a paid enhanced storage option that adds storage spaces in the kitchen and bedroom 3, while the 59㎡C exclusive area features a tower-type structure separating the couple’s and children’s spaces, with the living room designed to open on two sides. Additionally, all units come with underground storage.
Community facilities within the complex include a rare golf practice range in the area, a sauna, fitness center, small library, Hills Lounge (cafe), and kids’ playroom.
Within a 1.2 km radius, Bongcheon Station on Subway Line 2 and Soongsil University Entrance Station on Line 7 are located. Using these lines, it is possible to reach Gangnam Station and Nonhyeon Station within 20 minutes without transfers, and travel throughout Seoul.
Moreover, the Seobu Line light rail is scheduled to open within walking distance of the complex. Once operational, it will allow transfers to Subway Lines 1, 2, 6, 7, and 9, significantly reducing travel times by up to 16 minutes on major routes. According to Seoul City Hall, the Seobu Line light rail will connect Saejeol Station (Line 6) ? Yeouido ? Seoul National University Entrance Station (Line 2), with 16 stations planned to open.
Within a 500-meter radius of the complex are Guam Elementary School, Guam Middle School, and Guam High School, including a daycare center inside the complex. According to real estate big data company Asil, Guam Middle School is recognized as the highest academic achievement school in Gwanak-gu, making the area highly regarded for its excellent school district.
Meanwhile, Hillstate Gwanak Centciel consists of 9 buildings ranging from 3 basement floors to 28 above-ground floors, with a total of 997 units. Among these, 101 units with exclusive areas of 58?59㎡ will be supplied through general sales. The subscription schedule is first priority on Tuesday, September 26, and second priority on Wednesday, September 27. Winners will be announced on Tuesday, October 10, and the official contract period will be held over three days from Saturday, October 21 to Monday, October 23. The first installment of the contract deposit is a fixed amount of 10 million KRW.
For general supply subscriptions, 40% will be allocated by point system and 60% by lottery. Eligibility for first-priority subscription requires at least 12 months of subscription account membership, meeting the deposit requirements by region and area, and applicants must be at least 19 years old. Both household heads and household members can apply. The resale restriction period is one year from the announcement date of winners.
The model house is located in the Ilwon area of Bongcheon-dong, Gwanak-gu, Seoul, and move-in is scheduled for February 2025.
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