CW: Seoul office vacancy rate of 12.50% in 4Q15
Cushman Wakefield’s Asia Pacific Office Overview of February 2016 noted that office occupancy costs in Seoul during 4Q15 had been US$3.08 per square foot per month – or the 16th highest among the 31 cities surveyed across the region. The office vacancy rate in Seoul in 4Q15 had been 12.50%, or the 19th lowest. In terms of the office vacancy rate, Seoul had been ranked 19th lowest in 3Q15 and 20th lowest in 4Q14. Across core markets, the average occupancy cost in 4Q15 was US$58.08 per square foot per year and the average vacancy rate was 9.47%. Across emerging markets, the corresponding figures were US$22.64 and 17.13%.
Source : CW/Mar 2016/Seoul/OFF