▶ RSQUARE: Q1 Seoul & Bundang office transaction volume hits 3.5 trillion KRW… direct acquisitions for securing corporate HQs account for 33% of the total
▶ Big Data Consulting Team publishes Q1 Office Market Report: 'The Age of Density, Capital Chose the Center'
▶ Mega-deals over 100 billion KRW concentrate in CBD & GBD… Strategic Investors (SI) account for approx. 60% of total transaction counts
The Seoul and Bundang office investment market has recently displayed a structural realignment trend, centered on mega-scale transactions within the CBD and GBD alongside direct corporate investments aimed at securing company headquarters.
RSQUARE (CEO: Lee Yong-gyun), a comprehensive commercial real estate service firm, has published the 'Q1 2026 Office Market Report: The Age of Density, Capital Chose the Center.'
According to the report released on the 19th, the office transaction volume in Seoul and Bundang during the first quarter of 2026 was tallied at 3.5 trillion KRW, with an average vacancy rate of 6.1%. While the transaction volume decreased by 3.4 trillion KRW compared to the previous quarter due to a heavy concentration of blockbuster deals at the end of last year, it maintained historical baseline averages when evaluated against multi-year time-series data.
In terms of vacancy rates, the average fell by 0.1%p quarter-over-quarter, heavily supported by submarket adjustments in the YBD and 'Other Seoul' sectors, which recorded vacancy rates of 1.80% (-0.12%p) and 10.83% (-0.68%p) respectively. Notably, the vacancy rate in the YBD declined for four consecutive quarters, logging the lowest level among all major business districts.
A primary pillar anchoring the office investment market was direct corporate investment. While transactions occurred evenly across the entire Seoul landscape, acquisitions driven by the objective of securing corporate headquarters accounted for 33% of the total transaction count (20% on a value basis). Effectively, one out of every three office property transactions was an owner-occupier acquisition intended for actual headquarters use.
The phenomenon of concentration within core business districts was also highly pronounced. The CBD single-handedly spearheaded the market by capturing 54% of the total quarterly transaction value. Furthermore, out of nine mega-transactions exceeding 100 billion KRW, seven concentrated heavily within the CBD and GBD boundaries. The transaction volume reached approximately 1.9 trillion KRW in the CBD and around 700 billion KRW in the GBD, with the aggregate total of these two core districts comprising roughly 74% (2.6 trillion KRW) of the entire market.
The largest individual transaction of the quarter, including share-deal structures, was 'Seoul Square,' which traded at approximately 1.2855 trillion KRW, followed by 'K-Square Gangnam 2,' transacted at around 355.0 billion KRW. Other notable transactions within key submarkets included 'K-Finance Tower,' 'Cykan Tower,' and 'Hyundai Card·Capital Building Annex 3,' while 'Humax Village' crossed the finish line in the Bundang submarket.
RSQUARE highlighted the scaling expansion of Strategic Investors (SI) as another defining attribute of this quarter’s investment arena. Broken down by investing entities, SIs commanded approximately 60% of the total transaction count (36% on a value basis).
With a succession of direct corporate acquisitions executed by entities such as Hanwel (Daiso), Hanwha Vision, Sisen International, and Misto Holdings, the market layout exhibits a expanding proportion of transactions anchored in long-term end-use utility rather than pure speculative investment objectives.
"The recent Seoul office investment market has entered an era where the exact destination where capital concentrates has become far more critical than the aggregate transaction volume itself," analyzed the Big Data Consulting Team. "As interest rate burdens and macroeconomic uncertainties persist, the preference for core assets with verified leasing stability and locational competitiveness is intensifying, coupled with a strengthening demand from corporate enterprises executing direct investments to secure their own headquarters."
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▶ RSQUARE: Q1 Seoul & Bundang office transaction volume hits 3.5 trillion KRW… direct acquisitions for securing corporate HQs account for 33% of the total
▶ Big Data Consulting Team publishes Q1 Office Market Report: 'The Age of Density, Capital Chose the Center'
▶ Mega-deals over 100 billion KRW concentrate in CBD & GBD… Strategic Investors (SI) account for approx. 60% of total transaction counts
The Seoul and Bundang office investment market has recently displayed a structural realignment trend, centered on mega-scale transactions within the CBD and GBD alongside direct corporate investments aimed at securing company headquarters.
RSQUARE (CEO: Lee Yong-gyun), a comprehensive commercial real estate service firm, has published the 'Q1 2026 Office Market Report: The Age of Density, Capital Chose the Center.'
According to the report released on the 19th, the office transaction volume in Seoul and Bundang during the first quarter of 2026 was tallied at 3.5 trillion KRW, with an average vacancy rate of 6.1%. While the transaction volume decreased by 3.4 trillion KRW compared to the previous quarter due to a heavy concentration of blockbuster deals at the end of last year, it maintained historical baseline averages when evaluated against multi-year time-series data.
In terms of vacancy rates, the average fell by 0.1%p quarter-over-quarter, heavily supported by submarket adjustments in the YBD and 'Other Seoul' sectors, which recorded vacancy rates of 1.80% (-0.12%p) and 10.83% (-0.68%p) respectively. Notably, the vacancy rate in the YBD declined for four consecutive quarters, logging the lowest level among all major business districts.
A primary pillar anchoring the office investment market was direct corporate investment. While transactions occurred evenly across the entire Seoul landscape, acquisitions driven by the objective of securing corporate headquarters accounted for 33% of the total transaction count (20% on a value basis). Effectively, one out of every three office property transactions was an owner-occupier acquisition intended for actual headquarters use.
The phenomenon of concentration within core business districts was also highly pronounced. The CBD single-handedly spearheaded the market by capturing 54% of the total quarterly transaction value. Furthermore, out of nine mega-transactions exceeding 100 billion KRW, seven concentrated heavily within the CBD and GBD boundaries. The transaction volume reached approximately 1.9 trillion KRW in the CBD and around 700 billion KRW in the GBD, with the aggregate total of these two core districts comprising roughly 74% (2.6 trillion KRW) of the entire market.
The largest individual transaction of the quarter, including share-deal structures, was 'Seoul Square,' which traded at approximately 1.2855 trillion KRW, followed by 'K-Square Gangnam 2,' transacted at around 355.0 billion KRW. Other notable transactions within key submarkets included 'K-Finance Tower,' 'Cykan Tower,' and 'Hyundai Card·Capital Building Annex 3,' while 'Humax Village' crossed the finish line in the Bundang submarket.
RSQUARE highlighted the scaling expansion of Strategic Investors (SI) as another defining attribute of this quarter’s investment arena. Broken down by investing entities, SIs commanded approximately 60% of the total transaction count (36% on a value basis).
With a succession of direct corporate acquisitions executed by entities such as Hanwel (Daiso), Hanwha Vision, Sisen International, and Misto Holdings, the market layout exhibits a expanding proportion of transactions anchored in long-term end-use utility rather than pure speculative investment objectives.
"The recent Seoul office investment market has entered an era where the exact destination where capital concentrates has become far more critical than the aggregate transaction volume itself," analyzed the Big Data Consulting Team. "As interest rate burdens and macroeconomic uncertainties persist, the preference for core assets with verified leasing stability and locational competitiveness is intensifying, coupled with a strengthening demand from corporate enterprises executing direct investments to secure their own headquarters."