Seoul Grade-A Office Vacancy Rate Lowest in 13 Years at 2.5% According to CBRE, the Grade A office market vacancy rate last year was 1.2%, the lowest level since the 2008 global financial crisis. The vacancy rate in the Yeouido area decreased significantly from 25.2% in 2020 to 0.9% in 2022. The Gangnam area (0.9%) and the downtown area (1.4%) also recorded the lowest levels on record. The average real rent for office space in Seoul was KRW 28,046 per square meter, a 21.3% increase from the previous year. Seoul office transactions recorded KRW 11 trillion, down 7% from the previous year. This year, 49,414 square meters of new A-grade […]