A stated sale price can make the quoted cost of a particular apartment clearer, but it does not guarantee that prices will rise, that a unit remains available, or that buying is financially advantageous. An October 4, 2026, English-language report by Maeil Business Newspaper (MK), identified as AI-translated, describes first-come, first-served contracts at Hillstate Sunam Lake Park in Ulsan and cites rising construction costs as context—not proof of future prices for this development.
What the report says about Hillstate Sunam Lake Park
The development is in Yaeum-dong, Nam-gu, Ulsan. MK reports that Hyundai Engineering & Construction supplied the project and that contracts were being offered first-come, first-served, with buyers selecting building and unit numbers. These details come from the report’s indexed excerpt; they are not independently verified project disclosures.
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| Reported detail | What MK’s October 4, 2026 report says |
|---|---|
| Total households | 753: 631 apartments and 122 officetels |
| Nearby places | Seonam Lake Park and Yaeum Elementary School |
| Contract process | First-come, first-served, with building and unit number selection |
| Contract amount | 5% of the sale price in total, with an initial down payment of 5 million won |
The report also describes a choice among interest-free interim payments, free balcony expansion fees, or special first-come, first-served conditions. It does not establish whether those offers remain available, who qualifies, or how each affects the final amount payable. Confirm current terms in authorized sales materials before relying on them.
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Why construction costs are part of the story
MK frames interest in complexes with set sale prices against expectations that new-apartment prices may rise as construction costs increase. That is a market outlook, not a guarantee. Construction benchmarks and a project’s eventual sale price are not interchangeable: land costs, actual project costs, demand, financing, unit attributes and contract terms also matter.
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The report attributes the following figures to named organizations. Its underlying datasets were not independently inspected, so treat them as figures reported by MK rather than independently confirmed measurements:
| Measure | Figure reported by MK | Qualification |
|---|---|---|
| Basic construction cost | 2,328,000 won per square meter | Attributed to South Korea’s Ministry of Land, Infrastructure and Transport (MOLIT); said to apply from September 15, 2026, and to be 4.07% above the preceding July figure under the report’s stated building-height and floor-area assumptions. |
| Indirect construction costs | 663,000 won per square meter, up from 604,000 won | Attributed to the Public Procurement Service; the report does not provide the full calculation table. |
| Construction-cost index | 138.59 in July 2026 | Attributed to the Construction Cost Management Center of the Korea Institute of Construction Technology. MK says the index reached a monthly record in each month from January through July 2026. |
| Average apartment sale price | 21.43 million won per 3.3㎡ in the first half of 2026, compared with 20.96 million won per 3.3㎡ for 2025 | Attributed to Real Estate R114; MK reports the difference as a 2.2% increase. The source dataset was not independently inspected. |
MOLIT published a September 2026 regular notice on basic construction costs and an administrative notice concerning major-material standard unit prices for district-level basic construction costs. Those notices provide regulatory context; they do not verify Hillstate Sunam Lake Park’s unit prices or establish every figure in MK’s account.
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Does a confirmed sale price protect a buyer from later increases?
It can clarify the quoted amount for a specific unit under the terms of the contract offered at that time. But the report does not establish current unit prices, remaining inventory, or whether prices for this development—or apartments generally—will rise. Nor does a stated price alone show that the purchase is good value.
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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Before comparing an offer, check the specific unit’s total price and what it includes. A useful comparison should account for floor area and price per area, floor and orientation, included options, payment schedule and financing cost, incentives and eligibility, delivery schedule, and verified nearby amenities. The available report does not supply those unit-level details.
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What buyers should verify before signing
- Current availability and price: Ask the authorized seller for the remaining units, each unit’s current sale price, and the date through which that quote is valid.
- Payment obligations: Get the contract amount, installment dates, financing terms and any costs excluded from the advertised price in writing.
- Incentives: Confirm which offer applies to the unit, its eligibility conditions, whether benefits can be combined, and what happens if payment dates or other contract conditions are not met.
- Project particulars: Verify the unit’s specifications, included options and delivery schedule against current authorized materials rather than relying on a news excerpt.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
