South Korea
Seoul office vacancy rates to hold steady until H1 2026
Most vacancies will be taken up by pre-leases.
Seoul office vacancy rates to hold steady until H1 2026
Most vacancies will be taken up by pre-leases.
Seoul office transaction volumes drop 30% to KRW9.3t in Q4
Withdrawn deals increased due to a mismatch in bid-ask prices.
Seoul prime office rental growth slows to 4.8% in Q4
This is from a 7.1% growth recorded in the previous quarter.
Seoul prime office net absorption hits 20,000sqm in Q4
The vacancy rate slightly declined to 3.1% during the quarter.
Seoul retail rents continue to rise in Q3
Rents in Myeongdong saw the largest growth of 1.8%.
Seoul’s new hotel supply pipeline remains muted
There were only 1,058 rooms completed in the first nine months of 2023.
Seoul’s Grade A office leasing market remains healthy despite negative absorption
Demand in Gangnam reached record highs since Q1 2022.
Seoul’s Q3 industrial net absorption reaches record highs
Net absorption was at 77% of the total figures recorded in 2022.
South Korean property investment markets to remain subdued till year-end
Investors are still highly selective.
Seoul adds over 1,000 new hotel rooms in H1
This includes a luxury project with more than 600 rooms.
Seoul shopping mall rents inch up 0.8% in Q2
High street rents also slightly increased by 0.6%.
Seoul industrial vacancy rate rises for the sixth consecutive quarter
Vacancy stood at 16.0% in Q2.
Seoul’s Grade A office vacancy rises for the first time since 2021
The vacancy rate grew by 94 bps to 2.0% in Q2.
Seoul’s hotel supply pipeline concentrated in provincial markets
Around 3,000 new hotel keys are expected to be added this year.
Seoul industrial vacancy rate hits 5-year high of 12.6% in Q1
This is the highest vacancy rate since 2018.
Seoul’s Grade A office vacancy now at an all-time low of 1.1%
The vacancy rate has been steadily decreasing since 2021.
Why Seoul’s office transaction volumes crashed in Q1
The city’s KRW989.5b transaction in Q1 is a mere 26% of the volumes recorded the previous year.
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