▶ RSQUARE RA: Seoul commercial & office transaction volume has held within the 1.6–1.8 trillion KRW range for five consecutive months
▶ Transaction count reaches 171 cases with volume at 1.7720 trillion KRW — count down 15.3% MoM, while volume edges up 0.3% MoM
▶ 'Orange Center' emerges as the largest office deal year-to-date (Jan–May); hotels take 2nd and 3rd place
Seoul's commercial and office property transaction market continues on a stable trajectory, remaining within the 1.6–1.8 trillion KRW band for a fifth consecutive month.
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 full-service commercial real estate firm RSQUARE, Seoul's commercial and office real estate transaction volume in May totaled 1.7720 trillion KRW across 171 deals.
Compared to the previous month (April: 1.7664 trillion KRW / 202 deals), total transaction volume held steady, but the number of deals fell 15.3%. As a result, the average transaction value per deal rose 18.5%, from approximately 8.7 billion KRW in April to roughly 10.4 billion KRW in May — indicating that a smaller number of large-scale transactions drove overall market volume.
Compared to the same month last year (May 2025: 921.5 billion KRW / 145 deals), transaction volume surged 92.3% and deal count grew 17.9%.
Seoul's monthly commercial and office transaction volume has held within a consistent 1.6–1.8 trillion KRW range throughout the year: 1.6529 trillion KRW in January, 1.6108 trillion KRW in February, 1.6725 trillion KRW in March, 1.7664 trillion KRW in April, and 1.7720 trillion KRW in May. While the overall transaction baseline has remained stable, the specific deal types driving total volume have shifted from month to month.
The largest single transaction in May was 'Orange Center' in Sunhwa-dong, Jung-gu, which sold for approximately 350.0 billion KRW. Based on actual transaction data for general buildings (excluding multi-unit, strata-titled properties), this marks the largest single deal closed between January and May this year. Hospitality assets took the remaining top spots in May, led by the 'voco Seoul Myeongdong Hotel' in Hoehyeon-dong 1-ga, Jung-gu (approx. 291.3 billion KRW) and the 'Novotel Ambassador' in Doksan-dong, Geumcheon-gu (approx. 87.5 billion KRW).
The 'Lotte Hotel L7 Hongdae' in Donggyo-dong, Mapo-gu — originally contracted in January for approximately 265.0 billion KRW — fell to third place in the cumulative January–May rankings following the Orange Center transaction. As a result, hospitality assets now hold both second and third place in year-to-date cumulative transactions, with the 'voco Seoul Myeongdong Hotel' and 'Lotte Hotel L7 Hongdae' — underscoring the continued prominence of hospitality assets near the top of this year's commercial real estate market.
"May's transaction volume showed a stable trend in the upper 1 trillion KRW range," said the RSQUARE Research Center. "It remains to be seen whether hospitality assets, which have traded steadily since late last year, will continue to maintain their strong market presence going forward."
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▶ RSQUARE RA: Seoul commercial & office transaction volume has held within the 1.6–1.8 trillion KRW range for five consecutive months
▶ Transaction count reaches 171 cases with volume at 1.7720 trillion KRW — count down 15.3% MoM, while volume edges up 0.3% MoM
▶ 'Orange Center' emerges as the largest office deal year-to-date (Jan–May); hotels take 2nd and 3rd place
Seoul's commercial and office property transaction market continues on a stable trajectory, remaining within the 1.6–1.8 trillion KRW band for a fifth consecutive month.
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 full-service commercial real estate firm RSQUARE, Seoul's commercial and office real estate transaction volume in May totaled 1.7720 trillion KRW across 171 deals.
Compared to the previous month (April: 1.7664 trillion KRW / 202 deals), total transaction volume held steady, but the number of deals fell 15.3%. As a result, the average transaction value per deal rose 18.5%, from approximately 8.7 billion KRW in April to roughly 10.4 billion KRW in May — indicating that a smaller number of large-scale transactions drove overall market volume.
Compared to the same month last year (May 2025: 921.5 billion KRW / 145 deals), transaction volume surged 92.3% and deal count grew 17.9%.
Seoul's monthly commercial and office transaction volume has held within a consistent 1.6–1.8 trillion KRW range throughout the year: 1.6529 trillion KRW in January, 1.6108 trillion KRW in February, 1.6725 trillion KRW in March, 1.7664 trillion KRW in April, and 1.7720 trillion KRW in May. While the overall transaction baseline has remained stable, the specific deal types driving total volume have shifted from month to month.
The largest single transaction in May was 'Orange Center' in Sunhwa-dong, Jung-gu, which sold for approximately 350.0 billion KRW. Based on actual transaction data for general buildings (excluding multi-unit, strata-titled properties), this marks the largest single deal closed between January and May this year. Hospitality assets took the remaining top spots in May, led by the 'voco Seoul Myeongdong Hotel' in Hoehyeon-dong 1-ga, Jung-gu (approx. 291.3 billion KRW) and the 'Novotel Ambassador' in Doksan-dong, Geumcheon-gu (approx. 87.5 billion KRW).
The 'Lotte Hotel L7 Hongdae' in Donggyo-dong, Mapo-gu — originally contracted in January for approximately 265.0 billion KRW — fell to third place in the cumulative January–May rankings following the Orange Center transaction. As a result, hospitality assets now hold both second and third place in year-to-date cumulative transactions, with the 'voco Seoul Myeongdong Hotel' and 'Lotte Hotel L7 Hongdae' — underscoring the continued prominence of hospitality assets near the top of this year's commercial real estate market.
"May's transaction volume showed a stable trend in the upper 1 trillion KRW range," said the RSQUARE Research Center. "It remains to be seen whether hospitality assets, which have traded steadily since late last year, will continue to maintain their strong market presence going forward."