▶ RSQUARE RA: Transaction count reaches 146 cases, up 8.1% MoM… Small-to-medium deals underpin the market base
▶ Eight transactions related to 'Ai-Korea' in Jangji-dong, Songpa-gu total approx. 500 billion KRW… Apartment development site
▶ Development-oriented transactions reported across multiple split cases anchor the overall market volume
According to an analysis of actual transaction data from the Ministry of Land, Infrastructure and Transport (MOLIT) by RSQUARE ANALYTICS (RA), the research arm of comprehensive commercial real estate service firm RSQUARE (CEO: Lee Yong-gyun), the transaction volume of Seoul's commercial and office real estate market in February 2026 was tallied at approximately 1.6 trillion KRW. While it superficially appears to be a month lacking a single mega-transaction, development-oriented deals surrounding the 'Ai-Korea' site in Jangji-dong, Songpa-gu were reported across multiple split cases, practically driving the overall market volume.
◇ February 2026 Seoul Commercial & Office Transaction Volume: Approx. 1.6 Trillion KRW across 146 Cases
According to RA's analysis, commercial and office building transactions in Seoul last February recorded a volume of 1.6 trillion KRW across 146 cases. Compared to the previous month (January: 1.9127 trillion KRW / 135 cases), the transaction value decreased by 16.4%, whereas the transaction count increased by 8.1%. This pattern of shrinking transaction values coupled with rising transaction counts demonstrates that small-to-medium-sized transactions consistently carried on despite the absence of mega-scale single deals.
◇ 8 Transactions Related to 'Ai-Korea' in Jangji-dong… Totaling 500 Billion KRW in Scale
The linchpin transaction of the February market centered on the 'Ai-Korea' site in Jangji-dong, Songpa-gu. A total of eight transactions, aggregating to a scale of approximately 500 billion KRW, were reported as separate, split cases. This caused a statistical illusion in the monthly data, making it seem as if big deals were absent. However, while the transaction filings have been completed, the official transfer of ownership has not yet been finalized on the real estate registry.
According to industry sources, a consortium consisting of Simone Investment Managers, JRD, and Hana Securities is being discussed as the buying entity, and an apartment development project of approximately 900 units is reportedly planned for the site.
Excluding the 'Ai-Korea' transactions, the next top-ranking deal was 'Shilla Stay Seodaemun' in Choongjeong-ro, Seodaemun-gu. It was confirmed that NH Amundi REITs Management acquired the asset for approximately 146.0 billion KRW.
◇ February Transaction Volumes Over the Past 5 Years: A Slight Adjustment Following a Rebound
Looking at the trend of Seoul's commercial and office market transaction volume for the month of February over a five-year horizon, figures stood at 2.1239 trillion KRW in 2021 and 1.7388 trillion KRW in 2022, before plummeting to 517.5 billion KRW in 2023. It subsequently charted a recovery curve hitting 742.7 billion KRW in 2024 and 1.7110 trillion KRW in 2025, followed by a minor adjustment to 1.6 trillion KRW in 2026.
"February is seasonally a restricted period for transactions, and the overall volume lowered slightly as large-scale deals decreased," projected the RSQUARE Research Center. "As high interest rates continue to pose a burden on investment decision-making, a trend of controlled transaction pacing across the broader market will likely persist for the time being."
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▶ RSQUARE RA: Transaction count reaches 146 cases, up 8.1% MoM… Small-to-medium deals underpin the market base
▶ Eight transactions related to 'Ai-Korea' in Jangji-dong, Songpa-gu total approx. 500 billion KRW… Apartment development site
▶ Development-oriented transactions reported across multiple split cases anchor the overall market volume
According to an analysis of actual transaction data from the Ministry of Land, Infrastructure and Transport (MOLIT) by RSQUARE ANALYTICS (RA), the research arm of comprehensive commercial real estate service firm RSQUARE (CEO: Lee Yong-gyun), the transaction volume of Seoul's commercial and office real estate market in February 2026 was tallied at approximately 1.6 trillion KRW. While it superficially appears to be a month lacking a single mega-transaction, development-oriented deals surrounding the 'Ai-Korea' site in Jangji-dong, Songpa-gu were reported across multiple split cases, practically driving the overall market volume.
◇ February 2026 Seoul Commercial & Office Transaction Volume: Approx. 1.6 Trillion KRW across 146 Cases
According to RA's analysis, commercial and office building transactions in Seoul last February recorded a volume of 1.6 trillion KRW across 146 cases. Compared to the previous month (January: 1.9127 trillion KRW / 135 cases), the transaction value decreased by 16.4%, whereas the transaction count increased by 8.1%. This pattern of shrinking transaction values coupled with rising transaction counts demonstrates that small-to-medium-sized transactions consistently carried on despite the absence of mega-scale single deals.
◇ 8 Transactions Related to 'Ai-Korea' in Jangji-dong… Totaling 500 Billion KRW in Scale
The linchpin transaction of the February market centered on the 'Ai-Korea' site in Jangji-dong, Songpa-gu. A total of eight transactions, aggregating to a scale of approximately 500 billion KRW, were reported as separate, split cases. This caused a statistical illusion in the monthly data, making it seem as if big deals were absent. However, while the transaction filings have been completed, the official transfer of ownership has not yet been finalized on the real estate registry.
According to industry sources, a consortium consisting of Simone Investment Managers, JRD, and Hana Securities is being discussed as the buying entity, and an apartment development project of approximately 900 units is reportedly planned for the site.
Excluding the 'Ai-Korea' transactions, the next top-ranking deal was 'Shilla Stay Seodaemun' in Choongjeong-ro, Seodaemun-gu. It was confirmed that NH Amundi REITs Management acquired the asset for approximately 146.0 billion KRW.
◇ February Transaction Volumes Over the Past 5 Years: A Slight Adjustment Following a Rebound
Looking at the trend of Seoul's commercial and office market transaction volume for the month of February over a five-year horizon, figures stood at 2.1239 trillion KRW in 2021 and 1.7388 trillion KRW in 2022, before plummeting to 517.5 billion KRW in 2023. It subsequently charted a recovery curve hitting 742.7 billion KRW in 2024 and 1.7110 trillion KRW in 2025, followed by a minor adjustment to 1.6 trillion KRW in 2026.
"February is seasonally a restricted period for transactions, and the overall volume lowered slightly as large-scale deals decreased," projected the RSQUARE Research Center. "As high interest rates continue to pose a burden on investment decision-making, a trend of controlled transaction pacing across the broader market will likely persist for the time being."