Reporter Lee Jeong-eun Entered: 2015.04.10 15:36 | Modified: 2015.04.10 15:36 Even though the vacancy rate of office buildings in downtown Seoul has soared, rents are still high.
According to real estate consulting firm Cushman & Wakefield on the 10th, the vacancy rate in the Seoul CBD (CBD) in the first quarter of this year recorded 13.7%. This is an increase of 4% points compared to the same period last year. During the same period, the Gangnam area slightly increased from 8% to 8.6%, and Yeouido decreased by 6.4% points from 22.9% to 16.5%.
It is analyzed that the increase in the downtown vacancy rate in the first quarter of last year was influenced by the supply of new supplies following the completion of Cheongjin-dong Tower 8 (Cheongjin District 8) and the relocation of major companies in the city center to newly built integrated headquarters. Daewoo International moved its headquarters from the Yonsei Foundation Severance Building in front of Seoul Station to the recently completed Northeast Asia Trade Center in Songdo, Incheon, and Ssangyong affiliates, including Ssangyong Cement Industry, which was located in Building B of Pine Avenue, also moved their headquarters to the newly remodeled City Center Tower. was transferred.
However, in Yeouido, where the vacancy rate has decreased significantly, rents have risen according to the law of supply and demand, but in the downtown area, even though the vacancy rate has jumped, there was no significant difference in rents. In Yeouido, the vacancy rate decreased by 6.4% points and the monthly rent per ㎡ rose by 7,283 won from 21,909 won to 29,192 won, while in the city center, the monthly rental price was 312.73 million won per ㎡, compared to 31,666 won in the same period last year. It only decreased by 393 won.
The industry points out that office rents in downtown areas have already become fixed and that statistics and actual rents may differ.
Jang Jin-taek, director of Remax Korea, explained, "Office building rents are highest in the city center, followed by Gangnam and Yeouido. This has been fixed for the past 20 years, and the statistics themselves are somewhat different from reality." He added, "In reality, rent-free is prevalent in Gangnam or Gangbuk, so the actual rent and actual rent are different, and the statistical survey itself is concentrated on prime buildings on the main street, so there is an aspect that is different from reality."
nvcess@fnnews.com Reporter Lee Jeong-eun
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Original link: http://www.fnnews.com/news/201504101536499421
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