JLL: Seoul CRE investment volumes down 20% % in 2015
In its Global Market Perspective for 1Q16, Jones Lang LaSalle noted that commercial real estate investment volumes in Seoul fell by 20% in 2015. Capital values for prime offices rose by 3.4%. Rental yields for prime offices were 4.6%, or 254 basis points above the yield on the relevant long-dated government bond. Rents for prime office space fell by 1.0%. Net absorption during 2015 was equal to 0.3% of existing stock. At the end of the year, the office vacancy rate was 11.0% and the supply pipeline for 2016-17 equated to 3.2% of existing stock.
Source : JLL/ January 2016/Seoul/OFF