Two "Hillstate" buildings will be located in downtown Seoul
Situated in downtown Seoul, Mt. Namsan is regarded as the most scenic location in South Korea’s capital as it offers hiking, picnic areas, and views of central Seoul’s skyline.
Understandably, it is one of Seoul’s top tourist attractions, with the 236-meter N Seoul Tower locating on top of the 262-meter-high peak.
Just near the mountain, South Korea’s representative contractor Hyundai Engineering and Construction (E&C) has built a total of 282 houses in two nine-story buildings branded “Hillstate.”
Launched by Hyundai E&C, Hillstate is one of the most popular brands in South Korea. It has enjoyed high public awareness and brand value.
The houses of “Hillstate Namsan,” of which sizes range from 21 square meters to 49 square meters, will go on sale next month along with commercial facilities.
A total of three stations are within walking distance of the complex, which is also adjacent to the Central Business District, hospitals, shopping places, and many historical sites.
A Hyundai official said that the complex provides big advantages to buyers because it is not categorized as apartments, which are subject to so many regulations.
As the house prices have shot up over the past few years, the South Korean government has come up with complicated regulations on the trades of apartments.
“Anybody aged 19 or older can apply to purchase the houses. Unlike officetels, Hillstate Namsan houses are equipped with balconies,” a Hyundai official said.
An officetel refers to South Korea’s unique multi-purpose building with residential and commercial units. The semi-residential property is comparable to studio apartments.