SPI Weekly Korean Market Update(4/25~5/1)

2022. 05. 02 · SPI

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Providing Up-to-date news and contents of Korean commercial real estate market including investment, REITs and market players.

Q1 Rental Demand High for Grade A Offices, Gangnam Vacancy Rates Nearing Zero Demand for Grade A office rentals in Seoul has been high during the first quarter of 2022. According to the ‘Seoul Class A Office Market Trend in 2022 Q1’ report from JLL Korea released on April 27, the vacancy rate for Grade A offices in Seoul was 5.5%, down 2.5 percentage points from the previous quarter. The vacancy rate in the central business district fell by 2.06 percentage points from the previous quarter to 8.8%, the Yeouido area fell 5.23 percentage points to 7.3%, and the Gangnam area fell 1.08 percentage points to 0.4%. The cost of […]

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