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‘It won’t get any better than this.’ If you asked me to describe the Gangnam office market, that is what I would say. According to GenstarMate, vacancy rates in the GBD (Gangnam Business District) in the second quarter was 4.9%. Compared to the previous quarter (6.8%), this is a decrease of 1.9 percentage points. The district’s vacancy rate peaked around 2015. According to GenstarMate, vacancy rates in the GBD in the first quarter of 2015 was 8.3%. There were rumors that the Gangnam office market had been overrun by up-and-coming Pangyo and other areas. This was also around the time when real reports on the Pangyo office market began to […]
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Content Editor, Seoul Property Insight(SPI)
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