Average effective Seoul Grade A office rents increased by 0.6% q-o-q to 21,049 KRW per sq. m. in Q2 2018, supported by stable leasing demand in the GBD and CBD.
Retail leasing demand remained steady despite subdued consumer sentiment. Retail sales volume posted impressive gains in Q1 2018, rising 16.2% y-o-y to KRW 112 trillion.
3PL firms catering to fashion retailers, home appliance stores and manufacturers continued to drive leasing demand for Grade A logistics space.
The investment market gained further momentum following a strong start to the year, with the period witnessing the completion of 51 deals worth a combined total of KRW 3.9 trillion.