South Korea
Seoul office vacancy rates to remain low for the next two years
This is due to the absence of new supply in 2025.
Why Seoul’s office market is still performing better vs APAC neighbours
The city’s transaction volume declined at a slower rate compared to other markets.
Seoul prime office segment’s demand and vacancy dynamics revealed
Annual prime office supply averaged 190,000sqm over the past 10 years.
Seoul data centre capacity slated to triple in the coming years
The city currently has 515MW of capacity.
What was the only retail district in Seoul to record a rent decline in Q4?
Rents in this district slipped 0.5%.
Seoul 2023 prime logistics demand breaches levels from the past two years
Total net absorption hit over 1.1 million pyeong throughout the year.
Seoul sees 2,000 new luxury hotel rooms in 2023
But supply growth will be muted in 2024.
Seoul office demand hits annual high in Q4
Net absorption was at 24,200 pyeong during the quarter.
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Withdrawn deals increased due to a mismatch in bid-ask prices.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.
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EY’s Seng-Leong Teh emphasises focus on resilience, tenant mix management amidst challenges
![EY’s Seng-Leong Teh emphasises focus on resilience, tenant mix management amidst challenges]()
Co-Written / Partner
Discover the insights of Seng-Leong Teh as he navigates the challenges and opportunities shaping the industry today.
Discover the insights of Seng-Leong Teh as he navigates the challenges and opportunities shaping the industry today.
