03_경영, 경제 상식
Here’s an English summary of the 2025 H1 Seoul office vacancy market status
Miscella
2025. 4. 22. 11:04
🏢 Seoul Office Market Overview – H1 2025
Overall Vacancy Rate:
- Reached 3.8% in Q1 2025, up by 1.3 percentage points from the previous quarter and nearly double the rate from a year earlier.
By Submarket:
- CBD (Central Business District): 3.04%
- GBD (Gangnam Business District): 3.4% (with over 10% in smaller buildings off main streets)
- YBD (Yeouido Business District): 2.41%
📉 Key Drivers of Rising Vacancy
- Increased Supply: New developments, especially in areas like Magok, added significant new inventory.
- High Rents: Elevated leasing costs are pushing some tenants to downsize or relocate to suburban areas.
- Weaker Demand: Economic slowdown is reducing new leasing activity.
🔮 Outlook
- Supply Decrease Expected: Between 2025 and 2027, annual new supply in Seoul and Bundang is projected to fall below the past 10-year average.
- Vacancy Stabilization: Lower new supply and redevelopment projects may bring vacancy rates down to a stable 3% range.
- Rent Pressures: As vacancy tightens, upward pressure on rents is anticipated.
This suggests a transitional phase where short-term softness may be followed by stabilization and potential rent growth in key areas.