Busan is characterized by a mountainous terrain, with approximately 44% of its total area consisting of mountains. As a result, apartment complexes located on flat land are highly preferred. Due to this geographical feature, "flatland complexes" are gaining attention as residential products that offer both convenience for actual residents and rarity. They are showing strong performance in both the subscription market and actual transaction prices.
The value of flatland apartments can be seen in real-life examples. "Myeongnyun 2nd I-Park," which opened in Myeongnyun-dong, Dongnae-gu, Busan in 2015, consists of a total of 2,058 units, divided into Complex 1 and Complex 2. Although both complexes share the same move-in period and brand, the market price of Complex 1, which is situated on flat land, is significantly higher than that of Complex 2, which is not.
According to KB Real Estate prices, as of September 5, the average price for an 84-square-meter unit in Complex 1 was 625 million won. In contrast, the same-sized unit in Complex 2 had an average price of 545 million won, meaning the apartment on flat land was priced about 80 million won higher.
Preference for flatland apartments is also evident in the subscription market. "Sajik Haneulchae Licentia," which was offered for sale in Sajik-dong, Dongnae-gu in June 2022, recorded a first-priority average competition rate of 112.1 to 1, thanks to the advantages of its flatland location, and enjoyed great popularity.
"Yangjeong Lotte Castle Frontiel," supplied in Yangjeong-dong, Busanjin-gu in June last year, also achieved a quick sell-out by leveraging its flatland location and proximity to a major subway station. Despite the overall sluggish atmosphere in the presale market at the time, the rapid sell-out demonstrated the steady demand for flatland complexes.
With the location premium of flatland apartments being proven in Busan, the new complex "Hillstate Gaya," set to be built in Gaya-dong, Busanjin-gu, is drawing attention.
"Hillstate Gaya" boasts a rare flatland location even within Busan and features well-developed transportation and living infrastructure. Apartments built on flat land offer convenient movement for both pedestrians and vehicles, and in winter, there is a lower risk of icy road accidents compared to sloped areas. In addition, landscaping and community facilities can be developed more easily, and the uniform elevation of the complex means less variation in sunlight and views, making these units highly desirable to residents.
Furthermore, the area around Gayadaero, where the complex is being developed, is transforming into a new residential town centered on brand-name construction companies. In fact, with existing brand-name complexes already occupied, additional developments such as Hillstate Gaya, Gaya District 1, Gaya District 4, and the Gaya Homeplus mixed-use development are underway. Once all these projects are completed, the area is expected to emerge as a new residential district with about 10,000 households.
In addition, nearby Bujeon Station is expected to further enhance transportation convenience with the planned opening of the double-track Bujeon-Masan railway, as well as stops for the next-generation Busan Express Transit (BuTX) and KTX Gyeongbu Line (Bujeon Station to Cheongnyangni Station). The station is being developed as a multi-modal transfer center.
There are also abundant development benefits. Near the complex, the redevelopment of the Beomcheon Railroad Vehicle Maintenance Depot site-considered a key growth engine for downtown Busan-is underway. Busan City plans to create an "Urban Innovation Park" on this site, integrating the fourth industrial sector with cultural content. The goal is to make it a major fourth industrial hub for Busan, creating high-quality jobs as well as residential, public, and cultural facilities.
Additionally, the temporary office site for the Ministry of Oceans and Fisheries, scheduled to relocate in December, is located nearby, which is expected to bring further benefits. Moreover, through the Sujeong Tunnel, there is excellent proximity to Bukhang, the emerging center of Busan's future marine industry.
Hillstate Gaya also offers excellent residential conditions. The Seomyeon commercial district, Busan's largest core commercial area, is adjacent, providing easy access to shopping and cultural facilities. Large supermarkets such as Lotte Mart, as well as traditional markets like Gaegum Alley Market and Gaya Market, are conveniently accessible. In addition, major hospitals such as Inje University Paik Hospital and Busan Veterans Hospital are nearby, and the "Seomyeon Medical Street," which is home to large-scale medical institutions including plastic surgery, dermatology, internal medicine, surgery, ophthalmology, and dentistry, is also close, allowing residents to easily access medical facilities.
Within a 1-kilometer radius of the complex, there are four elementary schools, two middle schools, and one high school, including Gaya Elementary School, Gaeseong Middle School, and Gaya High School, creating an excellent educational environment. Furthermore, a new cluster of private academies has formed around the nearby Gaegum Station, further enhancing the area's educational conditions.
A local real estate official stated, "Busan has many hillside residential areas, so demand for flatland apartments remains consistently high. Complexes like Hillstate Gaya, which are located on flat land and have well-developed infrastructure such as transportation and education, are rare and therefore expected to remain highly competitive in the market."
Meanwhile, "Hillstate Gaya" will be built in Gaya-dong, Busanjin-gu, with a total of 487 units across Complexes 1 and 2. All units will be under 84 square meters, a size highly preferred by buyers.
The model home will be located in World Cup-daero, Yeonje-gu, Busan, and is scheduled to open on September 26.
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