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Ulsan housing market heats up as new complexes offering livability in industrial hub

Published: 29 Apr. 2026, 17:29 Updated: 29 Apr. 2026, 17:30

The photo of the Hillstate Seonam Lake Park apartment complex [HYUNDAI ENGINEERING AND CONSTRUCTION]

The real estate market in Ulsan is showing signs of recovery, with apartment prices increasing 1.68 percent in the first week of April, second only to Seoul, after posting the highest growth after the Seoul Metropolitan Area last year with a 2.1 percent jump.

The number of houses on the market is also falling, with 1,402 fewer apartments for sale in January from 3,811 in February of last year for the largest drop in the country at 36.21 percent. The Korea Real Estate Board estimates that sales in February of this year totaling 7,656, a 20.69 percent increase on year.

With the spike in sales, prices also rose, with the Ministry of Land, Infrastructure and Transport reporting that an apartment in the Munsu-ro Daegongwon Eilnui Tteul complex in Nam District, Ulsan, sold 1.2 billion won ($813,000) in January, a 200 million won increase over the sales price in February of last year.

Units are also selling in Hyundai Engineering and Construction’s Hillstate Seonam Lake Park complex in the same district, home to 631 apartments and 122 officetels — units zoned for commercial and residential use — in 44-story buildings. The complex is offering a 5 percent deposit.

Its proximity to Seonam Lake Park and Yaeum Elementary School is a prime selling point, with Onsan Petrochemical Complex, Hyundai Motor Company and Hyundai Heavy Industries not far away.

Houses in the complex are expected to increase in value as the Ulsan Urban Railway Line 2 is expected to improve accessibility, with Daehyun-dong, the site of the complex, set to host 2,000 households from a range of brands for a sprawling residential area.

BY LEE DAHYUN [[email protected]]

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