Seoul Figures Q2 2026

OFFICE
Average Grade A office vacancy across Seoul's three major business districts rose 1.4 ppts q-o-q to 4.2%. GBD reported the lowest vacancy on the back of strong prime-asset demand. New leasing volume hit a five-quarter high of 143,881 sq. m..

RETAIL 
Rising inbound tourism and credit card spending pushed rents up and pulled vacancy down across Myeongdong, Seongsu, and Gangnam in Q2 2026. With Seongsu rents up 14% y-o-y and vacancy standing at just 3.4%, there is little room for new leases.

LOGISTICS 
New supply and net absorption fell roughly 24% y-o-y and 30% y-o-y, respectively, in H1 2026. Vacancy nevertheless dropped to 14.6% on the back of continued cold-to-dry storage conversions, with upward rental pressure set to build in H2 2026 amid a lack of space in large-sized assets.

INVESTMENT
investment volume fell 10% q-o-q and 21% y-o-y to KRW 5.8232 trillion, led by offices, which accounted for 68% of the total. The 16% q-o-q rise in logistics investment points to a stronger H2 2026.