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Retail MarketBeat Report

Suki Kim • 04/12/2025
In Q3 2025, Seoul’s high street market showed an overall trend of recovery, driven by the influx of foreign tourists and aggressive expansion by large brands. The average vacancy rate stood at 14.3%, dropping 0.9 pp q-o-q. The most dramatic shift was seen in Gangnam, where the vacancy rate fell 5.1 pp. Despite its relatively slow recovery previously, vacancies were rapidly resolved as large tenants moved in.

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Authors

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