Hyundai Construction Completes 100% Contract for 'Hillstate Gwanak Cent Ciel'

Hyundai Construction announced on the 10th that it has completed contracts for all 997 units of ‘Hillstate Gwanak Cent Ciel’.

Hillstate Gwanak Cent CL_Perspective View. [Photo by Hyundai Engineering & Construction]

In the first priority general subscription for Hillstate Gwanak Cent Ciel, a total of 3,341 applications were received for 51 units (excluding special supply), resulting in an average competition rate of 65.51 to 1, with all housing types fully subscribed.

The highest competition rate was recorded for the 59㎡A type with 155 to 1 (based on the local area), showing a higher competition rate than other nearby complexes that were previously offered. After the official contracts and contracts with preliminary winners, a non-priority subscription was conducted for 3 units due to disqualifications, and all units in the non-priority contract were sold out 100%.

It is evaluated that the sale was completed with high interest as housing demand surged due to brand value, excellent location, and product quality. In particular, it is analyzed that many buyers recognized the value of the complex as a brand-new apartment supplied in the Bongcheon-dong area, which is transforming into a new residential town with about 9,000 households.

Additionally, the fact that Hyundai Construction was responsible for the construction is considered a major factor for the successful sale due to the project’s stability. Furthermore, the presence of densely located elementary, middle, and high schools providing an excellent educational environment, the pleasant residential environment such as Sangdo Neighborhood Park, and the reasonable sale price compared to surrounding market prices attracted buyers’ attention.

Hillstate Gwanak Cent Ciel is being developed with 9 buildings ranging from 3 basement floors to 28 above-ground floors, totaling 997 units, and is scheduled for occupancy in February 2025.

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