Hyundai Engineering & Construction has officially launched sales for Hillstate Seonam Lake Park, a premier large-scale residential complex situated in Yaeum-dong, Nam-gu, Ulsan.
This impressive development offers 753 units, featuring 631 modern apartments and 122 versatile officetels, housed within towers soaring up to 44 stories. To make homeownership more accessible, Hyundai E&C is providing attractive financial incentives, including a reduced contract deposit of just 5 percent and an initial payment option starting from 5 million won (approximately $3,330).
Boasting a prime location, Hillstate Seonam Lake Park is situated directly adjacent to the picturesque Seonam Lake Park and offers convenient walking access to Yaeum Elementary School, making it ideal for families. Furthermore, residents benefit from excellent connectivity to Ulsan’s major industrial hubs, including key facilities operated by SK Innovation, S-Oil, Hyundai Motor, and HD Hyundai Heavy Industries.
Future residents will also benefit from significant regional developments, including the planned Ulsan Tram Line 2, enhancing connectivity, and a larger neighboring residential project poised to introduce over 2,000 additional housing units, promising robust community growth and increased property value.
The timing of this launch coincides with Ulsan’s impressively strengthening housing market. Data from the Korea Real Estate Board reveals that apartment prices in the city surged by 2.1 percent in 2025, marking the highest increase among major metropolitan areas outside the bustling Seoul capital region. This upward momentum has continued into the current year, with Ulsan home prices climbing 1.68 percent through early April, securing the second-highest growth rate nationwide, just behind Seoul.
Further underscoring robust demand, market conditions have notably tightened in Ulsan. Unsold housing inventory in the city plummeted by a remarkable 63.2 percent year-on-year to just 1,402 units in January. Concurrently, apartment transactions across the broader Busan-Ulsan-South Gyeongsang Province region experienced a significant 20.7 percent rise from the previous year, reaching 7,656 units in February, signalling a vibrant and active real estate landscape.
Prospective buyers are invited to visit the model home, conveniently located in Dal-dong, Nam-gu, Ulsan, to experience the quality and design firsthand. Residents of Hillstate Seonam Lake Park are anticipated to begin moving into their new homes from February 2028.
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