Office: Overall Grade A office vacancy fell to 8.5% in Q4, down 0.7pp from Q3, as new completions enjoyed active leasing take-up and offset the potential impact of the new supply on the vacancy rate.
Retail: Vacancy Rises across six major shopping streets. In Gangnam, Itaewon and Hongdae districts, the F&B industry was most impacted by Covid-19. Cheongdam districts was dropped in vacancy although overall vacancy at major retail shopping districts rose.
Investment: Office building transaction totaled KRW 13.4 trillion in 2020. Especially, the Core office assets is dominated in 2020 due to Covid-19. And GBD transaction volume sets new high as assets values have risen significantly.
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