OFFICE

Seasonal rental adjustments and lower incentives pushed up average Grade A office effective rents in Seoul’s three major business districts by 0.9% q-o-q in Q1 2020.

 

RETAIL

Retail sales volume for Q4 2019 stood at KRW 97.1 trillion, an increase of 5.4% q-o-q and 2.3% y-o-y. However, brick-and-mortar retail has been hit hard since February, with tourism decreasing sharply and people advised to stay at home.

 

INDUSTRIAL

The logistics sector has been relatively less impacted by the COVID-19 outbreak, as Q1 transaction volume reached 28% of 2019’s total.

 

INVESTMENT

Commercial real estate transaction volume stood at KRW 3.0 trillion in Q1 2020, a similar level to that which was recorded in Q1 2019. Office and logistics deals comprised 86% of the total.