Korea Office Research

Savills Research & Consultancy aims to offer objective advice to clients in order to help them make well-informed real estate related decisions and realise pre-defined goals.

Featured report

Seoul office briefing

Seoul Office Briefing Q2 2018
01 August 2018

The prime asset transaction market was active as domestic blind funds emerge as major investors.

 

Research search results: 40 found

 
Seoul Office Briefing Q2 2013

Seoul Office Briefing Q2 2013

17 July 2013

Net absorption for Seoul prime office buildings fell into negative territory of 9,500 sq m in Q2/2013. The CBD saw a demand increase but the prime office vacancy rose by 10.7% as GBD tenants relocated to other areas and financial companies reduced their office space in YBD. The sales market was active, posting a transaction volume of KRW1.49 trillion with a cap rate estimated to be in the low 5% range.

 
 
 
Seoul Office Briefing Q1 2013

Seoul Office Briefing Q1 2013

26 April 2013

In Q1/2013, net absorption for Seoul prime office buildings was positive at 28,000 sq m, indicating an increase in demand. However, the vacancy rate also rose to 9.7% with the release of two new buildings. The case of sale and lease back has shown in Q1/2013. There is a possibility that the prime office cap rate will slide further from the current level if the benchmark interest rate and interest rates of real estate secured loans continue to fall.

 
 
 
Seoul Office Briefing Q3 2012

Seoul Office Briefing Q3 2012

01 November 2012

In Q3/2012, the Seoul office market demand increased, in contrast to the negative absorption recorded in Q2. Despite the increased demand, new office space completed in YBD pushed the Seoul prime office vacancy rate up to 9.4%. In Q3, the transaction volume was KRW1.5 trillion and the cap rate for prime offices was around the low 5%.

 
 
 
Seoul Office Briefing Q2 2012

Seoul Office Briefing Q2 2012

01 August 2012

Demand for prime office space in the CBD increased in the second quarter resulting in positive net absorption of 12,300 sq m. On the other hand, the GBD showed negative net absorption of 19,900 sq m largely due to tenant movement to secondary offices and other business districts. Thus, Seoul’s prime office vacancy rate increased to 8.9% from 7.3% last quarter, with cap rates forecast at sub -5% levels.

 
 
 
Seoul Office Briefing Q1 2012

Seoul Office Briefing Q1 2012

04 May 2012

Q1 net absorption totalled 38,260 sq m; the ninth consecutive quarter of positive absorption. Tenant m ovement was dominated by prime-toprime relocations leading to a small decrease in the prime office vacancy rate to 7.3%. Q1 sales volume slowed to KRW660 billion.

 
 
 
Seoul Office Briefing Q4 2011

Seoul Office Briefing Q4 2011

06 February 2012

The fourth quarter net absorption of 260,000 sq m represented 43% of total 2011 net absorption of 608,000 sq m. This exceeded annual supply of 482,000sq m and drove the vacancy rate down to 7.5%from 9.8% in Q4/2010. The 2011 investment volume topped-out at KRW3.8 trillion, 60% higher than in 2010.

 
 
 
Seoul Office Briefing Q3 2011

Seoul Office Briefing Q3 2011

04 November 2011

CBD net absorption was at the highest level in nearly ten years.However, office demand could not match record new supply, withthe vacancy rate climbing to 11.6% due to the completion of fourbuildings. Investment transactions were dominated by core officeproperties and the 2011 transaction volume has already exceededthe 2010 level.

 
 
 
Seoul Office Briefing Q2 2011

Seoul Office Briefing Q2 2011

28 July 2011

Tenant movement from secondary to prime stock helped to absorb space in recently completed CBD buildings and push the Seoul office vacancy rate down to 7.3% in Q2/2011. As more properties were launched onto the market, transaction volumes increased. H1/2011 sales figures already represent 74% of 2010 activity.

 
 
 
Seoul Office Briefing Q1 2011

Seoul Office Briefing Q1 2011

27 April 2011

The office vacancy rate dropped to 7.8% in Q1 due to increased demand from large corporations. Office indices remained consistant, with face rents showing a slight rise and effective rents unchanged, as a result of rent-free periods

 
 
 
Seoul Office Briefing Q4 2010

Seoul Office Briefing Q4 2010

17 February 2011

In Q4, net absorption in the Seoul prime office market remained positive, but new building supply outpaced net absorption which pushed the Q4 vacancy rate to 9.8 per cent. Prices of prime office building

 
 
 

Key contacts

JoAnn Hong

JoAnn Hong

Director
Research & Consultancy

Savills Korea

+82 2 2124 4182

 

Subscribe to Savills Research

 

Would you like to be notified via email about new research?