Hanwha Forena Busan Daeyeon, which has emerged as the most sought-after housing complex in Busan's presale market after successful subscription results, is entering the formal contract signing phase.
Hanwha Corporation's construction division announced that formal contract signing for Hanwha Forena Busan Daeyeon, located in Daeyeon-dong, Nam-gu, Busan, will take place over three days from Monday, January 12 to Wednesday, January 14.
The complex proved its popularity by recording high competition ratios in the recent subscription period. Special supply units drew 290 applicants for 49 units, resulting in an average competition ratio of 5.92 to 1, while the first-priority subscription recorded an average ratio of 21 to 1. Industry observers say these results confirm strong interest from end-users.
Industry experts predict the formal contract signing process will likely be completed relatively quickly. Busan's presale market has seen a string of successful projects in preferred residential areas, and analysts say Hanwha Forena Busan Daeyeon, located in a prime spot within the Daenam living zone, is well positioned to capture market demand.
In August last year, Summit Limited Namcheon in Namcheon-dong, Suyeong-gu, within the Daenam living zone, achieved subscription success with an average competition ratio of 22 to 1. That same month, Seomyeon Summit The New, built on the former NC Department Store Seomyeon site, recorded an average ratio of 3.68 to 1 and recently achieved 100 percent sell-out.
Contract terms designed to enhance stability are also drawing attention. The four-month move-in designation period allows presale rights transfers within that timeframe and gives end-users more time to arrange final payments, which is expected to help secure contract stability. Additionally, the 5 percent down payment structure with a fixed first payment of 10 million won is expected to lower initial financial burden and facilitate contract conversions.
Price competitiveness is also expected to work favorably during the actual contract process. Units of 59 square meters are priced between 689 million won and 814 million won. Considering that a recent transaction for a 59-square-meter unit at The Beach Prugio Summit, which had move-ins in April last year in the nearby area, recorded 970 million won, the pricing is viewed as relatively affordable compared to surrounding market rates.
The location offers excellent conditions. Residents can walk to Kyungsung University-Pukyong National University Station on Busan Metro Line 2, and accessibility to Haeundae and Centum City is excellent via Gwangan Bridge and Hwangnyeong Tunnel. The complex combines educational infrastructure including Namcheon Elementary, Namcheon Middle, and Daeyeon High schools along with the Namcheon-dong academy district, as well as abundant natural and leisure environments such as Igidae Waterfront Park and Gwangalli Beach.
Hanwha Forena Busan Daeyeon comprises six buildings with two basement levels and 24 above-ground floors, totaling 367 units, of which 104 units of 59 square meters are available for general presale. The sales promotion center is located near Pukyong National University's Daeyeon Campus.
"As the most watched complex in Busan's recent presale market, expectations for successful contract signing are high given the confirmed demand from subscription results," a sales representative said. "With the move-in date approaching, we expect positive responses to continue from end-users who have comprehensively reviewed the presale price and contract terms."
