▶ RSQUARE publishes '2026 Q2 Office Market Report: The Era of Supply, Conditions for Choice-Worthy Assets'
▶ Seoul's average office vacancy rate reaches 6.5% — over 60,000 pyeong of the 99,000 pyeong in new supply concentrated in the CBD
▶ Seoul and Bundang office transaction volume hits approximately 6 trillion KRW — YBD posts the largest single deal of the quarter and a record-high price per pyeong
In the Seoul office market, with more than 60% of the 99,000 pyeong in new supply concentrated in the Central Business District (CBD), the average vacancy rate rose in Q2 for the first time in four quarters. Even so, prime office rents in the CBD increased 8.5% year-over-year — the steepest growth of any submarket. Meanwhile, the Gangnam Business District (GBD), which saw no new supply this quarter, remained tightly saturated, with mega-prime and prime office vacancy rates at just 0.3% and 2.2%, respectively.
RSQUARE (CEO: Lee Yong-gyun), a full-service commercial real estate firm, released its '2026 Q2 Office Market Report: The Era of Supply, Conditions for Choice-Worthy Assets' on the 12th. According to the report, Seoul's average office vacancy rate climbed 0.4 percentage points quarter-over-quarter to 6.5% in Q2 2026, as 11 office properties totaling approximately 99,000 pyeong in gross floor area entered the market.
The rise in Seoul's overall vacancy rate was driven primarily by the CBD, where more than 60% of new supply was concentrated. With the completion of roughly 61,642 pyeong of new space — including 'G1 Seoul' (43,388 pyeong) and 'Rene Square' (12,587 pyeong) — the CBD vacancy rate rose 2.4 percentage points quarter-over-quarter to 7.3%.
Leasing demand diverged sharply by asset size. In GBD, mega-prime and prime office vacancy rates held at just 0.3% and 2.2%, respectively, reflecting a sustained 'Flight to Quality' preference toward top-tier assets. In the CBD, average prime office rents surged 8.5% year-over-year — the highest rate of increase of any submarket.
The Yeouido Business District (YBD) set major milestones in both transaction volume and pricing. 'IFC Office Towers' closed for approximately 1.9278 trillion KRW, marking the largest single deal of the quarter, while 'Hana Securities Yeouido Building' sold for approximately 811.2 billion KRW — setting a new YBD record price of 38.4 million KRW/pyeong.
"The flight to quality in office transactions is expected to continue through the second half of the year," said Sang-jun Lee, Head of the Big Data Consulting Division. "Assets with strong locational competitiveness and stable cash flows — or those offering exceptional physical specifications alongside value-add potential — will have the highest likelihood of successful deal execution."
\ 
▶ RSQUARE publishes '2026 Q2 Office Market Report: The Era of Supply, Conditions for Choice-Worthy Assets'
▶ Seoul's average office vacancy rate reaches 6.5% — over 60,000 pyeong of the 99,000 pyeong in new supply concentrated in the CBD
▶ Seoul and Bundang office transaction volume hits approximately 6 trillion KRW — YBD posts the largest single deal of the quarter and a record-high price per pyeong
In the Seoul office market, with more than 60% of the 99,000 pyeong in new supply concentrated in the Central Business District (CBD), the average vacancy rate rose in Q2 for the first time in four quarters. Even so, prime office rents in the CBD increased 8.5% year-over-year — the steepest growth of any submarket. Meanwhile, the Gangnam Business District (GBD), which saw no new supply this quarter, remained tightly saturated, with mega-prime and prime office vacancy rates at just 0.3% and 2.2%, respectively.
RSQUARE (CEO: Lee Yong-gyun), a full-service commercial real estate firm, released its '2026 Q2 Office Market Report: The Era of Supply, Conditions for Choice-Worthy Assets' on the 12th. According to the report, Seoul's average office vacancy rate climbed 0.4 percentage points quarter-over-quarter to 6.5% in Q2 2026, as 11 office properties totaling approximately 99,000 pyeong in gross floor area entered the market.
The rise in Seoul's overall vacancy rate was driven primarily by the CBD, where more than 60% of new supply was concentrated. With the completion of roughly 61,642 pyeong of new space — including 'G1 Seoul' (43,388 pyeong) and 'Rene Square' (12,587 pyeong) — the CBD vacancy rate rose 2.4 percentage points quarter-over-quarter to 7.3%.
Leasing demand diverged sharply by asset size. In GBD, mega-prime and prime office vacancy rates held at just 0.3% and 2.2%, respectively, reflecting a sustained 'Flight to Quality' preference toward top-tier assets. In the CBD, average prime office rents surged 8.5% year-over-year — the highest rate of increase of any submarket.
The Yeouido Business District (YBD) set major milestones in both transaction volume and pricing. 'IFC Office Towers' closed for approximately 1.9278 trillion KRW, marking the largest single deal of the quarter, while 'Hana Securities Yeouido Building' sold for approximately 811.2 billion KRW — setting a new YBD record price of 38.4 million KRW/pyeong.
"The flight to quality in office transactions is expected to continue through the second half of the year," said Sang-jun Lee, Head of the Big Data Consulting Division. "Assets with strong locational competitiveness and stable cash flows — or those offering exceptional physical specifications alongside value-add potential — will have the highest likelihood of successful deal execution."