▶ Seoul commercial and office transactions rise MoM and YoY, marking 3 consecutive months of growth
▶ July MOLIT data analysis: Active small-to-medium deals in industrial & warehouse market despite lack of mega-deals
▶ RA predicts "Stable growth in the second half alongside expectations of interest rate cuts"
According to the July 2025 commercial real estate market trends analyzed by RSQUARE (CEO: Lee Yong-gyun) based on actual transaction data from the Ministry of Land, Infrastructure and Transport (MOLIT), the Seoul commercial and office real estate market has passed its first-half low and is showing a clear recovery.
Seoul Commercial & Office Real Estate: Growth in Both MoM and YoY Figures
In July, the transaction value of commercial and office buildings in Seoul reached 2.9418 trillion KRW, a 12.3% increase from the previous month (2.6203 trillion KRW). The number of transactions stood at 190, up 18.8% from June (160 cases), showing an upward trend in both volume and value.
RA, RSQUARE’s commercial real estate analysis service, noted, "The growth rate in the number of deals slightly outpaced the growth in transaction value, indicating that relatively small-scale transactions were particularly active."
The growth is even more pronounced when compared to the same month last year. Transaction value expanded by 47.2% compared to July 2024 (1.9985 trillion KRW), and the number of deals increased by 5.6% from 180 to 190. Notably, compared to the 606.3 billion KRW recorded in January this year, the market has recovered to nearly five times that level, demonstrating significant market vitality.
The largest transaction in July was confirmed to be 'Ferrum Tower' in Jung-gu, which traded for approximately 645.1 billion KRW. RSQUARE interpreted this by stating, "The Seoul commercial and office market has overcome the sluggishness of May (921.5 billion KRW) and continued its upward flow through June and July, suggesting that a full-scale market recovery is underway."
National Industrial & Warehouse Market: Active Small-to-Medium Deals Amidst Lack of Mega-Deals
On the other hand, the national industrial and warehouse market showed mixed results. The transaction value in July was approximately 1.03 trillion KRW, a decrease of about 40% from the previous month (approx. 1.71 trillion KRW). However, the number of transactions reached 363, a 23% increase from June (295 cases).
Compared to the same month last year (approx. 1.58 trillion KRW / 417 cases), the transaction value shrank by 35% and the deal count fell by 13%. Although the market has nearly doubled in value since January—when it dropped to approximately 520 billion KRW (251 cases)—volatility has increased significantly over the past three months.
The market indicators are showing wide swings—surging from 670 billion KRW in May to 1.7 trillion KRW in June, before adjusting back to the early 1 trillion KRW range in July—necessitating a cautious approach.
Future Outlook: Stable Growth vs. High Volatility
RA analyzed, "The Seoul commercial and office transaction market is showing a distinct recovery after passing its low point in the first half. In the second half, transaction volumes are expected to maintain stable growth as major large-scale asset deals gain momentum alongside expectations of interest rate cuts."
Regarding the industrial and warehouse market, RA explained, "In July, the total transaction value contracted as large-scale deals for major logistics centers significantly decreased, while deal counts rose due to active trading of small-to-medium facilities. In the second half, market indicators may continue to fluctuate depending on the closing of individual large-scale listings, so attention must be paid to this volatility."
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▶ Seoul commercial and office transactions rise MoM and YoY, marking 3 consecutive months of growth
▶ July MOLIT data analysis: Active small-to-medium deals in industrial & warehouse market despite lack of mega-deals
▶ RA predicts "Stable growth in the second half alongside expectations of interest rate cuts"
According to the July 2025 commercial real estate market trends analyzed by RSQUARE (CEO: Lee Yong-gyun) based on actual transaction data from the Ministry of Land, Infrastructure and Transport (MOLIT), the Seoul commercial and office real estate market has passed its first-half low and is showing a clear recovery.
Seoul Commercial & Office Real Estate: Growth in Both MoM and YoY Figures
In July, the transaction value of commercial and office buildings in Seoul reached 2.9418 trillion KRW, a 12.3% increase from the previous month (2.6203 trillion KRW). The number of transactions stood at 190, up 18.8% from June (160 cases), showing an upward trend in both volume and value.
RA, RSQUARE’s commercial real estate analysis service, noted, "The growth rate in the number of deals slightly outpaced the growth in transaction value, indicating that relatively small-scale transactions were particularly active."
The growth is even more pronounced when compared to the same month last year. Transaction value expanded by 47.2% compared to July 2024 (1.9985 trillion KRW), and the number of deals increased by 5.6% from 180 to 190. Notably, compared to the 606.3 billion KRW recorded in January this year, the market has recovered to nearly five times that level, demonstrating significant market vitality.
The largest transaction in July was confirmed to be 'Ferrum Tower' in Jung-gu, which traded for approximately 645.1 billion KRW. RSQUARE interpreted this by stating, "The Seoul commercial and office market has overcome the sluggishness of May (921.5 billion KRW) and continued its upward flow through June and July, suggesting that a full-scale market recovery is underway."
National Industrial & Warehouse Market: Active Small-to-Medium Deals Amidst Lack of Mega-Deals
On the other hand, the national industrial and warehouse market showed mixed results. The transaction value in July was approximately 1.03 trillion KRW, a decrease of about 40% from the previous month (approx. 1.71 trillion KRW). However, the number of transactions reached 363, a 23% increase from June (295 cases).
Compared to the same month last year (approx. 1.58 trillion KRW / 417 cases), the transaction value shrank by 35% and the deal count fell by 13%. Although the market has nearly doubled in value since January—when it dropped to approximately 520 billion KRW (251 cases)—volatility has increased significantly over the past three months.
The market indicators are showing wide swings—surging from 670 billion KRW in May to 1.7 trillion KRW in June, before adjusting back to the early 1 trillion KRW range in July—necessitating a cautious approach.
Future Outlook: Stable Growth vs. High Volatility
RA analyzed, "The Seoul commercial and office transaction market is showing a distinct recovery after passing its low point in the first half. In the second half, transaction volumes are expected to maintain stable growth as major large-scale asset deals gain momentum alongside expectations of interest rate cuts."
Regarding the industrial and warehouse market, RA explained, "In July, the total transaction value contracted as large-scale deals for major logistics centers significantly decreased, while deal counts rose due to active trading of small-to-medium facilities. In the second half, market indicators may continue to fluctuate depending on the closing of individual large-scale listings, so attention must be paid to this volatility."