▶ RSQUARE RA: Transaction value hits 1.6841 trillion KRW and transaction count reaches 183 cases, up 5.3% and 25.3% MoM respectively
▶ Average value per transaction, which stood at 14.1 billion KRW in January and 10.9 billion KRW in February, slides to 9.2 billion KRW in March
▶ March witnesses active hands shifting primarily among small-to-medium assets under 10 billion KRW rather than mega-buildings
The number of commercial building transactions in Seoul for March (183 cases) jumped by more than 25% compared to the previous month, but the growth rate of the total transaction volume (5.3%) remained somewhat moderate. It was a period that exposed a distinct contrast in temperature: "wait-and-see" for mega-assets and "highly active" for small-to-medium assets.
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 March 2026 was tallied at 1.6841 trillion KRW across 183 cases.
Compared to the previous month (February), the transaction count increased by 25.3% (37 cases) and the transaction volume expanded by 5.3% (84.2 billion KRW). However, as revealed by the disparity in growth rates, this is analyzed as the impact of relatively brisk trading focused on small-to-medium-sized assets rather than mega-scale buildings.
In fact, while the transaction count—which had stalled in the early-to-mid 100-case range in January (135 cases) and February (146 cases) this year—surged to 183 cases in March, the average transaction value per case actually decreased. The average transaction value per case, which stood at 14.1 billion KRW in January and 10.9 billion KRW in February, dropped to 9.2 billion KRW in March.
This was not due to a complete absence of big deals. The largest transaction in March was the sale of 'FN Tower Jamsil' (Samsung Life Insurance Jamsil Building, 207.9 billion KRW) in Sincheon-dong, Songpa-gu. This was followed by the transactions of the 'Yeosam Building' (185.0 billion KRW) in Yeoksam-dong, Gangnam-gu, and the 'Korea Arts & Culture Center' (150.0 billion KRW) in Mok-dong, Yangcheon-gu.
Even though the top three transactions were all traded at over 100 billion KRW, ownership changes of assets with relatively lower price points and smaller scales effectively spearheaded the March market.
"Looking at the March indicators, the rise in the total transaction volume was limited compared to the margin of increase in the transaction count," explained the RSQUARE Research Center. "This is because transactions for small-to-medium commercial real estate (such as small buildings) under 10 billion KRW for actual occupancy purposes were heavily concentrated during the month."
\ 
▶ RSQUARE RA: Transaction value hits 1.6841 trillion KRW and transaction count reaches 183 cases, up 5.3% and 25.3% MoM respectively
▶ Average value per transaction, which stood at 14.1 billion KRW in January and 10.9 billion KRW in February, slides to 9.2 billion KRW in March
▶ March witnesses active hands shifting primarily among small-to-medium assets under 10 billion KRW rather than mega-buildings
The number of commercial building transactions in Seoul for March (183 cases) jumped by more than 25% compared to the previous month, but the growth rate of the total transaction volume (5.3%) remained somewhat moderate. It was a period that exposed a distinct contrast in temperature: "wait-and-see" for mega-assets and "highly active" for small-to-medium assets.
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 March 2026 was tallied at 1.6841 trillion KRW across 183 cases.
Compared to the previous month (February), the transaction count increased by 25.3% (37 cases) and the transaction volume expanded by 5.3% (84.2 billion KRW). However, as revealed by the disparity in growth rates, this is analyzed as the impact of relatively brisk trading focused on small-to-medium-sized assets rather than mega-scale buildings.
In fact, while the transaction count—which had stalled in the early-to-mid 100-case range in January (135 cases) and February (146 cases) this year—surged to 183 cases in March, the average transaction value per case actually decreased. The average transaction value per case, which stood at 14.1 billion KRW in January and 10.9 billion KRW in February, dropped to 9.2 billion KRW in March.
This was not due to a complete absence of big deals. The largest transaction in March was the sale of 'FN Tower Jamsil' (Samsung Life Insurance Jamsil Building, 207.9 billion KRW) in Sincheon-dong, Songpa-gu. This was followed by the transactions of the 'Yeosam Building' (185.0 billion KRW) in Yeoksam-dong, Gangnam-gu, and the 'Korea Arts & Culture Center' (150.0 billion KRW) in Mok-dong, Yangcheon-gu.
Even though the top three transactions were all traded at over 100 billion KRW, ownership changes of assets with relatively lower price points and smaller scales effectively spearheaded the March market.
"Looking at the March indicators, the rise in the total transaction volume was limited compared to the margin of increase in the transaction count," explained the RSQUARE Research Center. "This is because transactions for small-to-medium commercial real estate (such as small buildings) under 10 billion KRW for actual occupancy purposes were heavily concentrated during the month."