Korea

Total investment volumes decreased 7% during the quarter.

The Central sub-market’s vacancy rate decreased from 5.0% to 4.6%.

There were 7 en-bloc transactions closed during the quarter.

Retail mall stock per capita is low in Korea relative to its global peers.

The city's CBD saw the strongest net absorption on the back of robust leasing activities.

Meanwhile, prime high street rents contracted -1.0%.

Environmental, social, governance demands are mounting in all real estate assets groups.

The increase in APAC investment volumes was driven by China (-10% yoy), South Korea (-2% yoy) and Japan (-18% yoy). Commercial real estate markets in Asia Pacific had a better third quarter this year than second quarter, led by investment in China, Japan and South Korea.

The low market capitalisation of listed REITs is one.

These markets outperformed their APAC peers, thanks to domestic investors' deep pockets.

Vacancy rates soared as two new office buildings in the CBD were completed.

Vacancy rates stood at 6.9%, and rents inched up 1.6% YoY.