Seoul Shines in Asia’s Property Market: A Look at the Capital’s Resilient Office and Promising Living Sectors Amid Global Turbulence

Opinion | The Distinction of Seoul in Asia's Leading Real Estate Markets

The prime location of South Korea's capital is envied due to its robust commercial real estate market and promising residential sector.

As of the second quarter of this year, the worldwide average of unoccupied office spaces rose to 17%, an increase from the 10% prior to the COVID-19 outbreak. In addition, the proportion of global investment transactions in the office sector dropped from almost 35% in 2019 to 22% the following year, as per data from JLL.

Asia holds the most potential for expansion. Since 2019, the residential sector in this area has only made up 6 per cent of investment activities, a stark contrast to the 44 per cent seen in the United States, as per data from CBRE.