High Demand for Premium Units Sparks Positive Contract Rate for Hillstate Doan River Park

- Highest Winning Score 74 Points, Experts Say "Contracts Will Proceed Smoothly"
- 5% Deposit, No Actual Residence Obligation... Fair Contracts Until 16th (Fri)

The most talked-about complex in Daejeon this year, ‘Hillstate Doan River Park,’ is conducting official contracts until the 16th (Friday). Following the subscription results that overturned the landscape of the Daejeon housing market, attracting industry attention, experts predict that the contracts will proceed smoothly.

In fact, the complex filled all available units for every housing type in the first-priority subscription, marking the first time this has happened in Daejeon this year. The highest winning score reached 74 points (Complex 1, exclusive area 84㎡ A and B types). This is the maximum score a family of five with over 15 years of no home ownership can achieve.

Since many high-score applicants used their long-preserved subscription accounts, it is widely expected that the official contracts will continue without issues. The highest winning score for previously supplied complexes was 69 points, so the higher scores here suggest many applicants were considering the contract seriously.

A real estate expert said, “As the signal that the Daejeon housing market is recently recovering is clear, almost no winner would readily give up a competitively priced branded large complex.” He added, “With interest rate cuts expected to take full effect this year, housing prices are likely to turn upward, so contracts should proceed smoothly.”

Meanwhile, Hillstate Doan River Park consists of a total of five complexes, ranging from two basement floors to a maximum of 35 floors above ground, with 51 buildings and 5,329 households. Complex 1 (1,124 households) and Complex 2 (1,437 households), totaling 2,561 households, were supplied in the first phase. Excluding rental units, 2,113 households were offered for general sale: 891 in Complex 1 and 1,222 in Complex 2. The official contract pre-reservation on the official website closed early, indicating a high willingness to contract among winners.

In particular, ahead of the official contracts, the complex eased contract conditions, significantly reducing the financial burden on buyers. With a 5% down payment, buyers of the 84㎡ units can pay about 30 million KRW as a contract deposit and secure their home without additional costs until move-in, making high future price gains expected.

Additionally, the 5% down payment includes a fixed first installment of 20 million KRW. Typically, a contract deposit of 10-20% of the sale price is required for official contracts, but in this complex, contracts can be made by paying only 20 million KRW. Moreover, the halved deposit is included in the final payment rather than the interim payment, resulting in additional savings on financial costs. According to sales officials, the interest saved until move-in due to the reduced 5% deposit is estimated to be about 7 to 9 million KRW.

The sale price itself is reasonable. According to the Ministry of Land, Infrastructure and Transport’s actual transaction data, the ‘Daejeon I-Park City Complex 2’ (October 2021) located in Sanggye-dong, Yuseong-gu, near the complex, was traded for 910 million KRW for an 84㎡ unit in March this year. In contrast, the sale price for the same size at Hillstate Doan River Park is set in the 700 million KRW range, more than 100 million KRW lower than nearby complexes. Furthermore, there is no mandatory residence period, and the resale restriction period is six months from the announcement date of winners.

The model house is located in Doan-dong, Seo-gu, Daejeon (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.