On the 22nd, CBRE Korea announced that the average vacancy rate in the Seoul class A office market in the first quarter was 2.9%. This is an increase of 1.4 percentage points compared to the previous quarter and 1.7 percentage points compared to the same period last year. While the CBD and Gangnam districts maintained a consistent low vacancy rate of around 1% each since last year, the vacancy rate in Yeouido (9.15%), where TP Tower (total floor area of 141,669㎡), a large prime-class asset, was completed, temporarily rose as a result. This had a depressing effect on the overall Seoul average making it appear that the vacancy […]