▶ RA Analysis: September transaction value surpasses 2.1 trillion KRW, up 111% MoM; last 3 months up 29% from Q1
▶ September transaction value at 2.1519 trillion KRW, 193 cases… up 111% and 48.5% respectively MoM
▶ Average transactions over the last 3 months expanded by 29% compared to the first 3 months of the year
▶ RSQUARE: "Market enters mid-to-long-term stability beyond short-term fluctuations; investment sentiment and market strength recovering simultaneously"
Seoul's commercial and office real estate transactions in September surged more than twofold in a single month, showing a distinct recovery. Following a temporary adjustment in the previous month, analysis indicates that the market has entered a stable growth phase as both investment sentiment and market resilience recovered together.
RA (RSQUARE Analytics), the analysis arm of comprehensive commercial real estate service firm RSQUARE (CEO: Lee Yong-gyun), analyzed actual transaction data from the Ministry of Land, Infrastructure and Transport (MOLIT). The findings show that Seoul's commercial and office real estate transaction value in September reached 2.1519 trillion KRW with 193 transactions. This represents a 111% increase in value and a 48.5% increase in volume compared to the previous month (1.0211 trillion KRW / 130 cases).
While the transaction value decreased by 35.6% compared to the same month last year (3.3423 trillion KRW / 143 cases), it more than doubled when compared to September 2023 (936.1 billion KRW). This is interpreted as a gradual recovery of investment sentiment, which had been constricted during the period of interest rate hikes.
The recovery trend is even clearer when looking at the yearly flow. After hitting a low in January this year (606.3 billion KRW / 91 cases), the market has charted an upward curve despite repeated cycles of adjustment and expansion. The average monthly transaction value for the first three months (Jan-Mar) was 1.7017 trillion KRW with 116 cases. In contrast, the average for the most recent three months (Jul-Sep) rose to 2.1934 trillion KRW and 171 cases, representing an increase of 29% and 47% respectively.
The largest transaction in September was Hyundai Elevator's headquarters sale in Yeonji-dong, Jongno-gu, signed with Vault Asset Management for approximately 450 billion KRW. Other major deals exceeding 100 billion KRW followed, including 'Superfast Seoul Forest' (formerly Nudite Seoul Forest) in Seongsu-dong 1-ga (approx. 182.5 billion KRW) and the 'Euljiro Tower' in Cho-dong, Jung-gu, sold by KT&G to Cheong Kyeong Shipping (approx. 121.6 billion KRW).
"The Seoul commercial and office market has moved beyond short-term fluctuations to establish mid-to-long-term stability, with both investment sentiment and market strength entering a recovery phase," analyzed the RSQUARE Research Center. "The recovery trend will become even more distinct depending on future changes in the interest rate environment."
\ 
▶ RA Analysis: September transaction value surpasses 2.1 trillion KRW, up 111% MoM; last 3 months up 29% from Q1
▶ September transaction value at 2.1519 trillion KRW, 193 cases… up 111% and 48.5% respectively MoM
▶ Average transactions over the last 3 months expanded by 29% compared to the first 3 months of the year
▶ RSQUARE: "Market enters mid-to-long-term stability beyond short-term fluctuations; investment sentiment and market strength recovering simultaneously"
Seoul's commercial and office real estate transactions in September surged more than twofold in a single month, showing a distinct recovery. Following a temporary adjustment in the previous month, analysis indicates that the market has entered a stable growth phase as both investment sentiment and market resilience recovered together.
RA (RSQUARE Analytics), the analysis arm of comprehensive commercial real estate service firm RSQUARE (CEO: Lee Yong-gyun), analyzed actual transaction data from the Ministry of Land, Infrastructure and Transport (MOLIT). The findings show that Seoul's commercial and office real estate transaction value in September reached 2.1519 trillion KRW with 193 transactions. This represents a 111% increase in value and a 48.5% increase in volume compared to the previous month (1.0211 trillion KRW / 130 cases).
While the transaction value decreased by 35.6% compared to the same month last year (3.3423 trillion KRW / 143 cases), it more than doubled when compared to September 2023 (936.1 billion KRW). This is interpreted as a gradual recovery of investment sentiment, which had been constricted during the period of interest rate hikes.
The recovery trend is even clearer when looking at the yearly flow. After hitting a low in January this year (606.3 billion KRW / 91 cases), the market has charted an upward curve despite repeated cycles of adjustment and expansion. The average monthly transaction value for the first three months (Jan-Mar) was 1.7017 trillion KRW with 116 cases. In contrast, the average for the most recent three months (Jul-Sep) rose to 2.1934 trillion KRW and 171 cases, representing an increase of 29% and 47% respectively.
The largest transaction in September was Hyundai Elevator's headquarters sale in Yeonji-dong, Jongno-gu, signed with Vault Asset Management for approximately 450 billion KRW. Other major deals exceeding 100 billion KRW followed, including 'Superfast Seoul Forest' (formerly Nudite Seoul Forest) in Seongsu-dong 1-ga (approx. 182.5 billion KRW) and the 'Euljiro Tower' in Cho-dong, Jung-gu, sold by KT&G to Cheong Kyeong Shipping (approx. 121.6 billion KRW).
"The Seoul commercial and office market has moved beyond short-term fluctuations to establish mid-to-long-term stability, with both investment sentiment and market strength entering a recovery phase," analyzed the RSQUARE Research Center. "The recovery trend will become even more distinct depending on future changes in the interest rate environment."