Philip Jin • 21/07/2020
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: Office market leasing activity was curtailed in Q2 by the impact of COVID-19, with transactions dropping 20% y-o-y. However, with limited supply, average vacancy for Grade A office properties rose only slightly from Q1 to record 4.09% at the end of Q2.

Retail: With the damaging effects of COVID-19 easing, consumer activity is resuming, supported by government stimulus measures, and retail sales are on the mend. However, a full recovery to pre-pandemic high street sales levels is likely to be drawn-out.

Investment: The COVID-19 outbreak had limited direct impact on the office investment market in 1H, but the pandemic has had the effect of focusing market liquidity in the market further onto office properties. In particular, investors’ preference for core assets with high-quality tenants, location advantages and superior specifications is growing day by day.

Learn more by clicking our most recent Seoul MarketBeat reports below.


Office Buildings CBD
Seoul Office Report

Leasing expansion activities by some sectors, such as technology, were relatively less affected by the pandemic.

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Shopping Retail
Seoul Retail Report

The overall vacancy rate across the six major retail shopping streets jumped in the first half of 2020 from last year, as the COVID-19 outbreak took a toll.

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Warehouse Internal Rack
Seoul Investment Report

We can expect transaction prices for core assets to continue to rise in an environment of continued interest rate cuts, ample liquidity, and competition among investors.

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