According to the 2024-Q2 Domestic Commercial Real Estate Market Report released by CBRE Korea, the leasing market for Class A office spaces in Seoul recorded an average vacancy rate of 1.8%, maintaining the rate at a low level. The size of new lease transactions increased by approximately 12% compared to the previous quarter, reaching approximately 95,000 square meters. Approximately 45,000 square meters of lease transactions were confirmed to be renewals. Due to the previous increase in costs and the upward trend resulting in high rental fees, there has been a continued passive attitude towards new leasing activities. The nominal rent increased by 2.2% to record KRW 37,105 per […]