As housing prices continue to soar nationwide, there are predictions that the increase could accelerate further if the 4.5-day workweek is implemented. As a result, more prospective homebuyers are now seeking to secure landmark properties and purchase homes before prices rise even higher.
According to industry sources, major local governments are actively discussing the introduction of a "4.5-day workweek without wage reduction." The construction industry, which is more labor-dependent than other sectors, believes that if this policy is implemented, reduced working hours could directly lead to higher costs.
In particular, for apartment sales, on-time completion is essential. If working hours for construction site labor are reduced, there is no viable alternative except to hire additional workers, which is expected to result in increased construction costs and, consequently, higher sale prices.
Additionally, since sales prices are already on the rise, the financial burden on buyers is expected to intensify. According to data from Real Estate R114, the average pre-sale price per 3.3 square meters for apartments nationwide surged by 66.2%, from 13.04 million won in 2021 to 21.67 million won this year. For a standard 84-square-meter unit, this translates to an increase from 440 million won to 736 million won, a jump of approximately 300 million won.
In response, buyers are increasingly looking to secure landmark properties in their regions before prices rise further. In Pohang, North Gyeongsang Province, inquiries about "Hillstate Hwanho Park" have risen significantly. This complex, located in Yangdeok-dong, Buk-gu, Pohang (Blocks 1 and 2), is the largest privately-led park development project in Pohang. It will comprise 20 buildings ranging from three basement levels to up to 38 above-ground floors, with exclusive areas between 59 and 101 square meters, totaling 2,994 units (1,590 units in Block 1 and 1,404 units in Block 2).
For Hillstate Hwanho Park, the pre-sale price for an 84-square-meter unit starts in the mid-400 million won range, offering a more reasonable option compared to other developments. The down payment is fixed at 5 million won for the first installment, and buyers benefit from free balcony expansion and complimentary entrance doors, significantly lowering the entry barrier and initial financial burden. Special incentives, such as designated building and unit selection on a first-come, first-served basis, are also available. A special contract bonus is provided, and for contracts signed after July 1, 2025, buyers can defer the balance payment for up to six months, further reducing the burden. Most notably, the complex is scheduled for move-in this October, allowing for a swift transition into a new home.
Furthermore, buyers who pay their balance within the designated move-in period will be eligible for a prize draw, with rewards including a Genesis G80, a Chanel bag, and a 75-inch TV, which has attracted considerable interest.
Hillstate Hwanho Park boasts not only the scale of a 2,994-unit mega-complex but also a highly desirable residential location with comprehensive infrastructure for transportation, education, and daily living. Residents can easily access all areas of Pohang via Saecheonyeon-daero, Samho-ro, Sotijae-ro, and Yeongilman-daero. Pohang Express Bus Terminal and KTX Pohang Station are nearby, ensuring convenient nationwide travel. Within walking distance are Haemaji Elementary School, and several other schools such as Hanggu Elementary, Daedo Middle, and Hwanho Girls' Middle School. Notably, the Yangdeok-dong and Duho-dong private education districts are concentrated within a 2km radius. In addition, a variety of shopping facilities-including Hanaro Mart, Jukdo Market, Lotte Department Store, Homeplus, and Emart-are close by, as are City Hospital, Pohang Museum of Art, Lotte Cinema, Gyeongsangbuk-do Office of Education Cultural Center, and Silgaecheon Street.
True to its reputation as the top-ranked brand in brand reputation, Hillstate Hwanho Park also excels in product quality. The complex is primarily south-facing, with select units featuring a 4-bay flat layout that maximizes sunlight and ventilation. Features such as walk-in closets, pantries, and multi-purpose alpha rooms (in select units) further enhance storage and space efficiency.
The complex also boasts a wide range of community facilities befitting its scale. A guesthouse and sky lounge will be located on the 38th floor, offering residents a more comfortable and enriched lifestyle. Both the sky lounge and guesthouse are designed on the top floors (37th and 38th), so all residents can enjoy year-round views of Hwanho Park and the beautiful sunrises and sunsets over Yeongilman Bay. With move-in approaching, features such as a children's water playground and water garden specialized landscaping-highly popular during the hot summer months-are being added to the complex's unique landscaping, further raising expectations.
The model home is located in Jangseong-dong, Buk-gu, Pohang.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
