• Overall vacancy for prime office buildings in Seoul fell to a record low of 0.6 per cent. There was no recorded vacancy in Yeouido, while vacancy rates in Gangnam and the CBD were 1.0 per cent and 0.5 per cent respectively
• Gangnam's 33,554 sq.m. Daehan Life Insurance Building was the only major completion during the quarter
• Annual growth in rents has risen to 6.8 per cent - the highest rate of increase in prime rents since 2001
• Investment activity was strong, with 7 major office building transactions totaling KRW1.3 trillion
• The medium term outlook remains positive, with ongoing supply constraints likely to ensure current favorable conditions persist over the next two years

CONTACT INFORMATION
JoAnn Hong
+822 2124 4182
jhong@savills.co.kr

Simon Smith
+852 2842 4573
ssmith@savills.com.hk