South Korea
Seoul Q1 industrial vacancy rate rises to 15.4% as new completions arise
Seoul Q1 industrial vacancy rate rises to 15.4% as new completions arise
The North recorded the biggest increase in vacancy from 0% to 12.2%.
Seoul high street retail rents inch up by 0.7% in Q1
Myeongdong saw the steepest increase of 1.5%.
Seoul Grade A office rents up 9.4% in Q1
CBD saw the highest rental growth of 4.3%.
Why new hotel development will be subdued in Seoul in the near term
There were no new hotel completions in Q1.
Seoul office transaction volume nearly doubles in Q1 2024
Transactions grew from KRW1.4 trillion to KRW2.51 trillion.
Seoul office vacancy rate set to climb in Q2
This is due to the completion of a major project in Q1.
Seoul prime office rents up 5% in Q1
The CBD area still commands the highest nominal rent.
Seoul prime office demand reaches nearly 60,000sqm in Q1
Three major districts recorded record absorption levels since Q4 2022.
Seoul office rents to rise by 4-5% this year
Vacancy will only start to increase from 2026.
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.
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