SPI Weekly Korean Market Update(2/1~2/7)

2022. 02. 07 · SPI

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

Rent in Seoul Office Market Continues to Rise Research has revealed that in 2021, the Seoul office market recorded its highest ever transaction volume, net absorption, and rental prices. According to the Seoul Class A Office Market Q4 2021 report recently published by JLL Korea, the domestic office transaction volume in 2021 was about KRW 17.1 trillion, surpassing the previous record high of KRW 16.55 trillion from 2020. Net absorption in 2021 also recorded an all-time high of 603,761sqm. In the fourth quarter of 2021, the vacancy rate in Seoul was only 8%, half the figure from the same period in 2020, as vacancies in new buildings were quickly resolved. […]

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