Visitors Continue to Arrive at ‘Hillstate Doan River Park’

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Market attention is focused on ‘Hillstate Doan River Park,’ which is scheduled for official contracts this month. Expectations for early sell-out are rising as subscription applications were successfully completed and document submissions are proceeding smoothly.

Hillstate Doan River Park has been accepting document submissions since Saturday, August 3. According to sales officials, due to high expectations from buyers, there has been a steady flow of visitors submitting documents from the early stages of the schedule. Despite earlier concerns about market conditions, this popularity is attributed to many buyers recognizing the value of the complex.

This interest is analyzed to be driven by the symbolic significance of being the largest branded town in the Chungcheong region located in Doan New Town, known as the ‘Gangnam’ of Daejeon, and the differentiated product quality befitting the ‘Hillstate’ brand value. Additionally, the proximity to the planned Daejeon National Industrial Complex, offering convenient commuting, a comfortable and pleasant residential environment, and reasonable sale prices are also cited as key factors.

In fact, during the first and second priority subscription period held over two days from Tuesday, July 23 to Wednesday, July 24, a total of 7,070 applications were received for 1,548 units (excluding special supply), recording an average competition rate of 4.57 to 1. This is the highest number of subscription applications among the eight complexes supplied in Daejeon this year (based on Real Estate R114 as of August 1), exceeding by more than six times the previous record held by ‘Hillstate Gajang The First’ with 1,052 applications.

A real estate expert commented, “Hillstate Doan River Park is a complex with clear advantages such as sale prices lower than the surrounding older complexes and future value through nearby development prospects. As apartment sale prices in Daejeon are expected to rise further, this contract is likely to proceed smoothly.”

Meanwhile, Hillstate Doan River Park consists of five complexes, ranging from two basement floors to a maximum of 35 floors above ground, with a total of 51 buildings and 5,329 units. The first phase supplied 2,561 units in Complex 1 (1,124 units) and Complex 2 (1,437 units). Among these, excluding rental units, 2,113 units were offered for general sale: 891 units in Complex 1 and 1,222 units in Complex 2. Document submissions will continue until Friday, August 9, and official contracts will be held over five days from Monday, August 12 to Friday, August 16.

The complex is supplied at a reasonable sale price. According to Real Estate R114 data, the average sale price per 3.3㎡ of ‘Halla Vivaldi’ (occupied since June 2011) located nearby is 25.59 million KRW. In contrast, Hillstate Doan River Park’s average sale price per 3.3㎡ is 21.08 million KRW, more than 4 million KRW lower per pyeong than the older complexes. Additionally, there is no mandatory residence period, and resale is allowed six months after the announcement of winners.

Considering the symbolic significance as the largest branded town in the Chungcheong region and future value such as the planned Daejeon National Industrial Complex, Hillstate Doan River Park’s sale price is evaluated as even more reasonable. In fact, compared to ‘Prugio Castle’ in Seowon-gu, Cheongju, Chungbuk (occupied since November 2010), which was previously supplied on the largest scale with 3,599 units, this complex offers about 2,000 more units (based on Real Estate R114).

The model house for Hillstate Doan River Park is located in the Doan-dong area of Seo-gu, Daejeon Metropolitan City, with move-in scheduled for August 2027 (Complex 1) and September 2027 (Complex 2).

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