Hillstate Songpa The Grid Subscription Closes with Maximum Competition Rate of 11.7 to 1

[Financial News] Hyundai Engineering and Construction’s Hillstate Songpa The Grid, being supplied in Jangji-dong, Songpa District, Seoul, recorded a maximum competition rate of 11.7 to 1 in its housing subscription.
According to the subscription applications processed through Cheongyak Home on the 14th, 3,955 applications were submitted for 1,393 units, resulting in an average competition rate of 2.84 to 1. Group 4, which includes units with exclusive areas of 75 to 79 square meters, drew 618 applications for 53 units and recorded the highest rate at 11.7 to 1.
More than 13,000 people visited the model home during its four-day operation from the 10th through the 13th. Visitors came not only from Wirye New Town and Songpa but also from Gangnam District and Bundang.
The trend in apartment prices across the Seoul metropolitan area is also believed to have influenced the results. Analysts say demand increased for available units in Seoul that could be purchased with the same budget as prices at major complexes in southern Gyeonggi Province rose rapidly. According to the Ministry of Land, Infrastructure and Transport’s actual transaction price disclosure system, the 84-square-meter unit at Jayeon & Hillstate in Gwanggyo New Town traded for 2.12 billion won in August, while an 84-square-meter unit at Seongbok Station Lotte Castle Gold Town in Suji District, Yongin, traded for 1.9 billion won in the same month.
Hillstate Songpa The Grid is the first residential development supplied in Songpa–Wirye The Grid, a key area of Bokjeong Station Smart City. It will be built in Complex 3 of the mixed-use site. Complex 2 will house HMG Future Complex, where Hyundai Motor Group will conduct research into future technologies including software-defined vehicles, autonomous driving and robotics. The planned POSCO Global Center, which is expected to accommodate POSCO Holdings and other companies, will also be located nearby.
The complex will comprise 10 buildings ranging from four basement levels to a maximum of 16 above-ground floors. It will offer 1,393 units across 57 layouts, with exclusive areas ranging from 34 to 119 square meters. Planned community facilities include a fitness center, indoor golf practice range, sauna, Pilates studio, small library and guesthouse. Move-in is scheduled for January 2031.
A sales representative said, "Inquiries from people considering the units for their own residence continued steadily from the opening of the model home, and this translated into the application results." The representative added, "With apartment sale prices in the Seoul metropolitan area rising rapidly, the location in the Songpa area of Seoul appears to have played a major role." The representative continued, "It appears that demand concentrated on the development after applicants also considered surrounding plans, including HMG Future Complex, POSCO Global Center and the development of the Bokjeong Station transfer center."
The winners can check the results on Cheongyak Home on the 17th.

[email protected] Jung Kyung-soo Reporter