Hyundai Engineering & Construction's 'The H Daechi Edelweiss' Achieves Highest Competition Rate Ever in Seoul

- High Expectations for the DH Brand Supplied to Daechi-dong for the First Time
- 'DH Daechi Edelweiss' Average Subscription Competition Rate of 1,025.57 to 1 Sets Record as Highest Ever in Seoul

[D-H Daechi Edelweiss Tuscido]

Hyundai Construction recorded an average competition rate of 1,025.57 to 1 with 37,946 applicants for the first-priority subscription of ‘The H Daechi Edelweiss,’ supplied in Daechi-dong, Gangnam-gu, Seoul.

‘The H Daechi Edelweiss’ showed about 1.5 times higher competition than the average 667.26 to 1 of ‘Cheongdam Le El,’ which was sold last September. Despite the relatively small supply volume, it demonstrated the highest competition rate among all Seoul area supply complexes to date, indicating the unique value of ‘The H’ was recognized.

In the special supply held on Tuesday, October 8, 16,604 applicants applied for 35 units, recording a high competition rate of 474.4 to 1, reflecting strong interest and popularity. This momentum continued into the first-priority subscription. According to the Korea Real Estate Board’s subscription homepage, on Thursday, October 10, the first-priority (local area) subscription received 37,946 applications for 37 units (excluding special supply), resulting in an average competition rate of 1,025.57 to 1, with all types closing in the first-priority local area. The highest competition rate was for the 59㎡A type, recording 1,910.4 to 1.

Launched by Hyundai Construction in 2015, ‘The H (THE H)’ is a premium high-end apartment brand combining ‘THE,’ meaning the one and only, with H representing Hyundai, High-end, and High Society. ‘The H’ boasts a distinguished award history, including ranking first in the 2024 Premium Brand Index for the high-end residential sector by the Korea Standards Association. It is known for its specialized items and spaces that highlight ‘The H’s unique features, such as designs developed to enhance underground space luxury.

Additionally, in the apartment brand reputation survey announced by the Corporate Reputation Research Institute, ‘The H’ has maintained the number one position in the high-end apartment brand reputation index for 32 consecutive months from February 2022 to September 2024, solidifying its status as the leading high-end brand in the industry.

As a result, it is well known that ‘The H’ brand apartments lead local market prices. For example, the 84㎡ unit of ‘The H Honor Hills’ located in Gaepo-dong, Gangnam-gu, Seoul (occupied since August 2019, 1,320 units) was traded at 3.3 billion KRW in August this year. This price is 200 million KRW higher than the same size unit of ‘Raemian Blestige’ (occupied since February 2019, 1,957 units), which was traded at 3.1 billion KRW in August, marking the highest price in the entire Gaepo district.

The popularity of ‘The H’ was also evident in the sales market. According to data from the Korea Real Estate Board’s subscription homepage, a total of six complexes have been supplied under ‘The H’ brand, with a total of 3,366 general sale units. A total of 132,761 subscription accounts were received, recording a high average competition rate of 39.44 to 1 for first-priority subscriptions.

In particular, the most recent supply in August this year, ‘The H Bangbae,’ attracted 58,684 applicants for 650 general sale units, achieving a first-priority competition rate of 90.28 to 1, showing growing expectations from buyers.

Meanwhile, ‘The H Daechi Edelweiss’ has received widespread acclaim since the opening of its model house, featuring differentiated specializations befitting a high-end brand. The model house was designed as a space where visitors can experience the brand heritage, including the ‘The H Healing Object’ moon jar created to convey the artistic value of the brand, exhibitions of completed ‘The H’ complexes, and the brand-exclusive sound ‘H Sound.’

Consideration for visitors was also highly praised. To accommodate the large crowds expected during viewing hours and to provide more customers with visiting opportunities, weekday viewing reservations were extended until 7 p.m., easing the burden on office workers who found it difficult to visit on weekdays. Additionally, weekend viewing was available from 9 a.m. on both days to enhance customer convenience.

Furthermore, due to numerous subscription inquiries from visitors, two subscription briefing sessions were held for applicants, delivering high customer satisfaction and emotional impact.

Especially, the reasonable sale price attracted customer interest. ‘The H Daechi Edelweiss’ is a price ceiling system-applied complex, and its sale price was set reasonably compared to nearby complexes. According to KB Real Estate Market Price, the average sale price of the nearby ‘R’ apartment’s 84㎡C type was 3.45 billion KRW in October this year, which is more than 1.4 billion KRW higher than the sale price of ‘The H Daechi Edelweiss’ 84㎡ type (2.0 to 2.2 billion KRW).

Meanwhile, the model house of The H Daechi Edelweiss is located in Yangjae-dong, Seocho-gu, Seoul, and the announcement of winners is scheduled for Friday, October 18, with the official contract period from Tuesday, October 29 to Thursday, October 31 for three days.