Guess which Seoul district recorded the highest office rental growth in Q2

Rents in this district grew by 4.9% during the quarter.

According to a Savills report, the average rent for Seoul prime offices in Q2/2025 was reported at KRW123,900. By district, the CBD recorded the highest rent at KRW129,100/py, followed by GBD at KRW124,900/py, and YBD at KRW111,400/py.

Here’s more from Savills:

For the second consecutive quarter, the YBD recorded the highest rental growth among the three major districts at 4.9% YoY, followed by 2.8% in the CBD and 2.7% in the GBD. Notably this marks the first time since Q2/2022 for the CBD and Q1/2022 for the GBD that rental growth has fallen below 3% YoY, reflecting a slowdown in rental growth amid easing inflation since 2023.

The average rent-free period remained steady at up to one month annually. However, some landlords are offering additional incentives, indicating that effective rents may fall below this benchmark.

The average maintenance fee rose 2.2% YoY to KRW47,400/py. Growth slowed in the CBD and GBD, while the YBD recorded an increase of over 3%. By district, fees averaged KRW49,400/py in the CBD, KRW46,800/py in the YBD, and KRW45,000/py in the GBD.