South Korea
Seoul 2023 prime logistics demand breaches levels from the past two years
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Withdrawn deals increased due to a mismatch in bid-ask prices.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.
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.
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