Hanwha Foreena, launched in August 2019, has been ranked third among growing apartment brands, according to a recent survey. Hyundai Engineering's Hillstate took the top spot, while GS Engineering's Xi came in second.
On September 8, real estate research firm Real Estate 114 released the results of a survey conducted from August 18 to 24, involving 2,843 consumers nationwide. The survey assessed consumer perceptions of both established apartment brands from the early 2000s and new brands introduced within the last decade.
Hillstate, which secured first place, received 37.4% of the votes, while Xi garnered 33.6%. Hanwha Foreena, the residential brand of Hanwha Construction, ranked third with 32.2%. Hanwha Foreena was introduced on August 1, 2019, with a vision to create a new residential culture through the connection of people and spaces.
In fourth and fifth places were Daewoo Construction's Prugio and Lotte Construction's Lotte Castle, both receiving 32.1% of the votes.
Other brands, such as Hoban Construction's Hoban Summit, launched in 2019, and Kyeryong Construction's Elip, launched in December 2021, did not make it to the top rankings.
While all these brands emphasized 'luxury,' consumers had varying perceptions of their specific images. Hillstate was associated with a 'stylish' image, Xi with a 'luxurious' image, and the relatively younger Hanwha Foreena was noted for its 'sophisticated' image.
Prugio was recognized for its 'trust and reliability' and 'stylish' image, while Lotte Castle was predominantly viewed as 'luxurious.'
In terms of quality assessment, exterior design, advanced facilities, and amenities significantly influenced the survey results. Hanwha Foreena received the highest selection rate of 15% for exterior design, while Xi, Lotte Castle, and Hillstate each received 10%.
A representative from Real Estate 114 stated, "Consumer concerns have increased between traditional apartment brands and those launched within the last decade. As some construction companies introduce separate high-end brands, competition based on quality superiority is expected to continue."
The margin of error for this survey is ±1.84 percentage points at a 95% confidence level.
* This article has been translated by AI.
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