Hyundai Engineering's 'Hillstate Haeundae Central' Closes with an Average Competition Rate of 455.4 to 1

A Total of 108,392 Subscription Applications Received... Highest Competition Rate of 3,232.3 to 1 (District 4)
Winners Announced on the 20th, Official Contracts from the 22nd to 24th for 3 Days

Hillsstate Haeundae Central bird's-eye view.

Hyundai Engineering opened a sales promotion center on the 10th and completed subscription for the residential lodging facility 'Hillstate Haeundae Central' located in U-dong, Haeundae-gu, Busan, with a high competition rate of up to 3,232.3 to 1.

According to Hyundai Engineering on the 18th, a total of 108,392 applications were received for 238 units of Hillstate Haeundae Central, resulting in an average competition rate of 455.4 to 1. The highest competition rate was recorded in Group 4, where 25,858 applications were submitted for 8 units, resulting in a competition rate of 3,232.3 to 1.

Looking at the detailed competition rates by group, Group 1 had 48,005 applications for 188 units, showing a competition rate of 255.3 to 1. Group 2 recorded 17,106 applications for 24 units, with a competition rate of 712.8 to 1, and Group 3 closed with 17,423 applications for 18 units, resulting in a competition rate of 967.9 to 1.

This high competition rate is analyzed to be due to the fact that it is a residential lodging facility highly regarded as the best investment destination in the recent real estate market, located in Haeundae, which forms an affluent area nationwide beyond Busan, combined with the application of Hillstate's differentiated innovative design throughout the facility, attracting strong interest from demanders.

A sales official said, "The product includes all the major keywords leading the real estate market such as residential lodging facility, Haeundae, and the Hillstate brand, which seems to have led to excellent subscription results." He added, "Especially, since satisfaction was high with the high-quality convenience facilities and various residential services, we expect good results in the upcoming contracts."

Hillstate Haeundae Central is a residential lodging facility located in U-dong, Haeundae-gu, Busan Metropolitan City, consisting of 238 units ranging from 42 to 149㎡ in exclusive area, with 8 basement floors and 41 above-ground floors. It features various floor plans from penthouse types to small types, and plans to introduce high-end convenience facilities such as a top-floor infinity pool (rooftop pool) and concierge services.

The upcoming schedule includes announcing the winners on the 20th, and the official contract period will be held for three days from the 22nd to the 24th.

Meanwhile, the project entity of Hillstate Haeundae Central plans to establish an SPC (Special Purpose Company) to collectively operate and manage the building and lodging facilities, and the reservation and operation of the lodging facilities will be entrusted to Daemyung Sono for management.

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