Seoul Figures Q2 2025

OFFICE
Average vacancy in Seoul's three business districts stood at 2.7% in Q2 2025, unchanged from the previous quarter. Face rents continued their upward trend, reaching KRW 39,599 per sq. m., a 2.3 percentage point increase q-o-q. New leasing volume reached 96,584 sq. m., unchanged y-o-y. 

RETAIL 
Retailers displayed a strong appetite for new store openings this quarter. Notable expansions included domestic mid-to-low-priced beauty brands and premium athleisure brands, buoyed by increased foreign tourist demand and the growing popularity of sports and exercise. 

LOGISTICS 
New Grade A logistics supply fell to its lowest total since 2019, with just 168,614 sq. m. added. H1 2025 net absorption reached 680,000 sq. m., representing about 30% of the full-year 2024 total. Overall vacancy decreased by 2.5 percentage points from the end of last year, settling at 20.4%. 

INVESTMENT
Korea commercial real estate investment volume totalled KRW 7.1143 trillion, an increase of 53% y-o-y and the second consecutive quarter in which the KRW 7 trillion threshold was broken. This brought cumulative investment volume for H1 2025 to around KRW 15 trillion, some 70% of last year's total.