- Large-scale private rental apartment complex with around 2,000 units offers comprehensive transportation, lifestyle, and educational infrastructure
- Open to all applicants without a subscription savings account; secure up to 10 years of stable residence with guaranteed conversion to ownership
'Ulsan Hoeyagang Riverstate,' a new residential complex to be supplied in the Ungchon Gokcheon District of Ungchon-myeon, Ulju-gun, Ulsan, officially opens its promotional center today (April 25) and begins accepting applications.
'Ulsan Hoeyagang Riverstate' is an apartment complex built as a long-term private rental housing project, where residents can acquire ownership by converting to purchase after living there for 10 years. Anyone over the age of 19 can apply for residency, regardless of whether they have a subscription savings account. Residents will live under a jeonse (long-term lease) arrangement for 10 years, during which time they will not incur acquisition tax, property holding tax, capital gains tax, or comprehensive real estate tax. In addition, tenants are required to enroll in the rental deposit guarantee insurance provided by the Housing and Urban Guarantee Corporation (HUG), ensuring that their jeonse deposit is protected.
'Ulsan Hoeyagang Riverstate' will be a large-scale apartment complex consisting of 1,990 units (planned), with buildings ranging from two basement levels to a maximum of 29 floors above ground. The units will be available in efficient small and medium sizes of 59 square meters and 84 square meters, making them highly attractive to both end-users and investors.
The complex boasts a pleasant residential environment, with the Hoeya River flowing to the east. Residents will enjoy convenient and comfortable daily life, as the Ungchon Sports Complex, Ungchon Administrative Welfare Center and Health Branch, and Gokcheon Public Market are all located nearby. In the vicinity are Ungchon Elementary School, Ungchon Middle School, and Ulsan Beauty Arts High School, and the area also offers excellent access to the Okdong academy district, providing an advantageous environment for children's education. Notably, the Okdong academy district can be reached in less than 10 minutes by shuttle bus, further enhancing the educational environment.
'Ulsan Hoeyagang Riverstate' offers the advantage of proximity to workplaces, making commuting quick and convenient. The complex is close to Yongdang General Industrial Complex, GW General Industrial Complex, Namchang Industrial Complex, and the Petrochemical Complex. Ulsan and Ulju-gun plan to expand the Ungchon area as a preferred residential location for industrial complex workers through the Gokcheon District Urban Development Project. This is expected to further strengthen residential demand as the city’s residential belt expands.
The complex is directly connected to the Ulsan-Hamyang Expressway via the Donghae Expressway’s Munsu IC and Ulju JC, and National Route 7 between Ulsan and Busan is now fully open, allowing travel to Ulsan, Yangsan, and Busan in approximately 30 minutes. Furthermore, the planned opening of the Busan-Yangsan-Ulsan metropolitan railway in 2029 is expected to further improve public transportation convenience.
Most notably, 'Ulsan Hoeyagang Riverstate' is being developed within a large-scale urban development site in Ulsan, targeting the construction of approximately 3,300 housing units and accommodating about 8,000 residents. The project is expected to contribute to the expansion of urban infrastructure, the creation of a pleasant residential environment, and the revitalization of the local economy in the future.
Meanwhile, the promotional center for 'Ulsan Hoeyagang Riverstate' is located near Samsan-dong, Nam-gu, Ulsan.
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