Busan’s Dalmaji Hill Attracts Ultra-Wealthy with Exclusive Multi-Million Dollar Villas
For years, the story of luxury real estate in Busan centered around Marine City.
This district, defined by its soaring high-rise apartments overlooking Haeundae Beach, became synonymous with the city’s wealth. However, a shift is underway.
Just a bit further inland, Dalmaji Hill – once Busan’s prestigious enclave for the affluent – is making a strong comeback, attracting a new wave of ultra-wealthy buyers and redefining the city’s luxury housing market.
The significance of this shift lies in its location. Ultra-luxury housing in South Korea has historically been concentrated in Seoul and its surrounding metropolitan area. Villas commanding prices around 10 billion won (approximately $6.7 million USD) are a rarity, even in the capital, making their emergence in Busan particularly noteworthy.
Dalmaji Hill traditionally served as Busan’s “rich neighborhood,” attracting professionals, artists, and business leaders with its stunning panoramic ocean views and desirable topography.
But as newer developments emerged along the coastline, attention shifted to Marine City and Centum City, where high-density residential towers became symbols of modern affluence.
Now, the tide is turning – but with a distinct character.
Instead of towering skyscrapers, developers are investing in low-rise, ultra-exclusive villas, offering fewer units, greater privacy, and unobstructed views of Haeundae, the iconic Gwangan Bridge, and beyond.
The Era of the Multi-Million Dollar Villa
Leading this transformation is Atherton Upper House, an exclusive development of just 11 units nestled on Dalmaji Hill.
With prices ranging from approximately 7 billion won to 10 billion won, these villas represent the first introduction of such ultra-high-end residences in a regional market.
Upon its launch in 2023, the project garnered attention as Korea’s first residential development incorporating NFT-based digital art. Digital artist Krista Kim’s works are showcased in both private units and shared spaces via integrated LED panels.
Architectural firm STRX spearheaded the design. Each unit features gallery-inspired lounges and rooftop gardens, while larger residences boast both ocean and forest vistas. Parking is generously allocated, with up to 4.1 spaces per unit.
Nearby, Sangji Kailoom Haeundae is following a similar model. With only 12 units and a project value exceeding 1.6 trillion won, it further solidifies Dalmaji’s re-emergence as a low-density luxury enclave.
Why Dalmaji Hill—and Why Now?
Scarcity is a driving factor.
In contrast to Marine City’s dense skyline, Dalmaji offers what wealthy buyers increasingly seek: exclusivity, space, and privacy. Height restrictions, once perceived as a disadvantage, now safeguard views and limit supply, thereby enhancing its desirability.
There’s also a broader shift in the definition of luxury.
“High-net-worth individuals are moving away from standardized apartments in favor of more curated living spaces,” stated an industry source. “Dalmaji Hill offers that distinct differentiation.”
The area’s rich history adds to its allure. Originally developed as a golf course during the Japanese colonial era and later utilized by US forces, it eventually transitioned into a residential district – even encompassing land formerly owned by Samsung founder Lee Byung-chul.
Haeundae’s Second Act
The resurgence of Dalmaji Hill could further solidify Haeundae’s dominance within Busan’s property market.
The district continues to lead in high-end transactions, with prominent complexes such as LCT and The Zenith commanding some of the city’s highest prices. However, the move towards Dalmaji signifies a change within Haeundae itself – a shift from high-rise density to low-rise exclusivity.
Nam Hyuk-woo, a researcher at Woori Bank’s real estate research center, described Haeundae as “the Gangnam of Busan,” citing its proximity to workplaces, coastal setting, and relatively flat terrain as key advantages.
He further stated that the presence of multiple redevelopment projects in areas with a legacy as affluent neighborhoods could further bolster an improvement in market sentiment.
The original Korean version of this story is available at:
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