R Square: Logistics Center Sales Down 23%, Oversupply Causing High Vacancy Rate According to the R Square Seoul Metro Area Logistics Market Report, First Half 2023 Report, the average sales price per 3.3㎡ of logistics centers in the Seoul metropolitan area in the first half of this year was KRW 5.96 million, down 23% from the second half of last year. The vacancy rate continues to rise due to oversupply. In the first half of this year, large-scale supply continued, with 3,168,000 square meters added, a 37% increase from the second half of last year. 22.4% (302,031 pyeong) and 19.8% (285,061 pyeong) of the cumulative area were supplied to […]