The vacancy rate for Grade A offices in Seoul’s three major business districts all fell below the natural vacancy rate, the lowest since 2009. According to a report published by JLL Korea named ‘Seoul Class A Office Market Trends in Q3-2022’, the vacancy rate of Class A offices in Seoul in the third quarter of this year was down to 2.5%, 139bps lower than the previous quarter. It is the first time since 2009 that the vacancy rate of Grade A offices in Seoul’s three districts fell below the natural vacancy rate of 5.0%. Gangnam’s vacancy rate was only 0.3%, maintaining a 0% vacancy rate now for three consecutive quarters. […]