Skip to main content Skip to footer

Not Without Its Charms

Download Report
CitySeoul02Hero1536x1040

Seoul office property offers good value for tenants, and near-term attractions for investors

 

Robust demand in most Asian office markets is driving up rents. Seoul is more favourable to tenants, and should see marginal rent growth and rising vacancy over the next few years. We advise tenants to take advantage of this situation to negotiate new leases now.

 

Hong Kong and Tokyo were the top Asian investment markets in Q1, with Seoul third. We expect volumes in Seoul to stay firm in H2 and 2019. Looking further ahead, rapprochement between South and North Korea improves prospects for Seoul, and justifies further reduction in the market's cap rate. Flexible workspace is growing across Asia. In Seoul, landlords use flexible workspace as a tool to cut vacancy. They should choose operator partners and plan future strategies carefully to exploit the concept more successfully.


CitySeoul02SearchCard1024x927

Not Without Its Charms

Download Report