Newmark Releases Q3 2026 Seoul Office Market Report
PR Newswire•18/10/2026•20:00 ET
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Key Highlights
- ➤Seoul Grade A vacancy rose 0.2 points quarter-on-quarter to 4.5%
- ➤Seoul Grade A face rents increased 4.9% year-on-year
- ➤CBD vacancy rose 0.5 points to 7.0% amid tenant relocations and new supply
- ➤GBD vacancy increased 0.6 points to 2.7% after Gmarket space became available
- ➤YBD vacancy fell 0.8 points to 2.3% as financial firms relocated and expanded
Expert Statements
Judy Jang, Executive Director, Head of Research – Korea at Newmark
“Headline vacancy rates and face rents only tell part of the story”
Judy Jang, Executive Director, Head of Research – Korea at Newmark
“We are seeing increasingly different outcomes at the individual asset level, driven by building quality, location and the lease terms landlords are willing to offer.”
Judy Jang, Executive Director, Head of Research – Korea at Newmark
“As new supply comes to market, particularly in the CBD, that competition could create more choice and negotiating flexibility for occupiers.”
Newmark Releases Q3 2026 Seoul Office Market Report PR Newswire
Seoul Grade A Office Vacancy Reaches 4.5% as Tenant Relocations Drive Diverging Leasing Performance Across Submarkets and Assets
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