"Average Competition Rate 107 to 1" Hillstate Songdo Stay Edition, Winner Contract Signing Begins

[Asia Economy Reporter Kim Yuri] 'Hillstate Songdo Stay Edition,' which closed subscription with an average competition rate of 107 to 1, will begin winner contracts from the 14th.

Hyundai Construction announced on the 14th that it will conduct official contracts for Hillstate Songdo Stay Edition for five days from the 14th to the 18th. This complex is a residential lodging facility constructed by Hyundai Construction and developed by Korea Asset Trust (commissioned by Korea Asset Development). In the recent subscription, a total of 608 units were supplied, attracting 65,498 applicants on the website, resulting in an average competition rate of 107 to 1. The highest competition rate reached 1,379 to 1.

A company official said, "Since the complex is located in a central area within Songdo, inquiries continued even before the model house opened," adding, "There was high interest in the hotel-style concierge service and community facilities offered in this residential lodging facility."

In particular, it is advantageous that ownership and sales are possible through individual registration like an apartment, and the property is not counted as a house during the pre-sale rights period. The company explained, "A 50% interest-free loan on the interim payment is available at the time of contract."

The complex will be built at Songdo-dong 29-12 (C8-1BL), consisting of two buildings with 608 units from four basement floors to 44 floors above ground. It is close to Incheon Subway Line 1 International Business District Station and the 2nd Gyeongin Expressway, with large commercial facilities such as Costco and Homeplus nearby. Educational facilities include Yeonsong Elementary School, Chadwick Songdo International School, and Incheon Global Campus. Large parks such as Central Park and Dalbit Festival Park have been developed nearby, and residents can also enjoy the planned Songdo Waterfront Lake and Aamdo Coastal Park.

The ceiling height is 2.4 meters, higher than typical apartments, and balconies are provided as service areas. Hyundai Construction's smart home system, 'Hi-oT,' is also applied. Residents can check or control the home status via smartphone, and features include wireless authentication access for public entrance automatic doors and elevator calls. Various hotel-style services will be provided to residents, and a dedicated resident application will be operated to enhance convenience.

This content was produced with the assistance of AI translation services.