‘Hillstate Doan River Park’ Special Subscription Today

- Residential Core Shift from Dunsan-dong, Seogu to Doan New Town
- Supplied at a Price Over 100 Million KRW Lower than Market Around ‘Hillstate Doan River Park’

Recently, the Daejeon housing market, centered around Doan New Town, has been gaining momentum, attracting attention. Analysts suggest that alongside expectations of interest rate cuts, the absorption of existing listings is leading to a recovery in buying demand.

According to data from the Korea Real Estate Board, apartment sales transactions in Yuseong-gu, Daejeon, where Doan New Town is located, reached 409 cases in May this year, marking a 32.36% increase in just three months compared to February (309 cases) of this year.

Apartment prices have also seen a slight rebound. According to KB Real Estate price data, the sale price of the 101㎡ A-type unit in ‘Triple City Complex 9’ (occupied since November 2011) located in Doan New Town was 845 million KRW in June this year, showing an upward trend compared to 840 million KRW in the same month last year (June 2023).

Similarly, the price of the 84㎡ A-type unit in ‘Doan Hoban Verdiem Complex 2’ (occupied since February 2014) in the same area also rose by 35 million KRW during the same period (from 750 million KRW to 785 million KRW).

Industry insiders analyze that with the increase in transaction volume and price rebound cases like these, the Daejeon real estate market, centered on Yuseong-gu, is showing signs of recovery. Currently, real estate agencies are also raising listing prices, indicating a recent change in the market atmosphere.

A representative from real estate agency A stated, “There is a widespread view that the residential center of Daejeon has shifted from the existing Dunsan-dong in Seo-gu to Doan New Town,” adding, “The recent market sentiment is moving toward the idea that if not Doan New Town, then where else would one use their subscription savings account? For actual buyers, this is perceived as an opportunity.”

Meanwhile, a new complex supplied at a reasonable price in Doan New Town is drawing attention. The sale price of the 84㎡ unit in ‘Hillstate Doan River Park,’ launched by Hyundai Construction, is in the 700 million KRW range, which is more than 100 million KRW lower than the actual transaction price of the same size unit in the nearby ‘Daejeon I-Park City Complex 2’ (occupied since October 2021), which was 910 million KRW as of March this year (Ministry of Land, Infrastructure and Transport data).

The subscription schedule starts with special supply on Monday, July 22, followed by first priority on Tuesday, July 23, and second priority on Wednesday, July 24. The announcement of winners is scheduled for July 30 (Tuesday) for Complex 1 and July 31 (Wednesday) for Complex 2. The official contract period will be held over five days from August 12 (Monday) to August 16 (Friday). Overlapping subscriptions are allowed for each complex, and a fixed first installment of 20 million KRW is offered.

Regarding special supply, the revised “Housing Supply Regulations” as of March 25 this year introduced a priority supply for newborns (20% of the special supply quota) in the private housing special supply for newlyweds and first-time homebuyers. Additionally, the history of winning or owning a house by a spouse before marriage has been excluded. Various easing policies have been reflected, such as relaxing the basic requirements for special supply for multi-child families from three children to two, attracting significant interest from demanders.

For general supply, residents of Daejeon City, Sejong City, and Chungcheongnam-do who have held a subscription savings account for more than six months and meet the deposit requirements by region and area can apply for first priority subscription regardless of homeownership status. There are no restrictions on re-winning or residency obligations, and resale is possible six months after the announcement of winners. The model house is located in Doan-dong, Seo-gu, Daejeon Metropolitan City (near Mokwon University), and move-in is scheduled for August 2027 (Complex 1) and September 2027 (Complex 2).

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