▲ Panoramic view of the Gangnam Finance Center building (provided by Remax Wide Partners)

Among office buildings in the Gangnam area, Gangnam Finance Center (GIC) was found to be charging the most expensive rent.

Remax Wide Partners, a building specialist, announced on the 20th that as a result of a monthly rent survey of office buildings in the Gangnam area this month, Gangnam Finance Center in Yeoksam-dong, Gangnam-gu was found to be the most expensive at 108,000 won per 3.3㎡.

Remax Wide Partners surveyed monthly rents for 165 office buildings in the Gangnam area from the 11th to the 14th. Various options such as rent-free and interior cost support were not considered and the survey was conducted based on nominal rent.

Following Gangnam Finance Center, which recorded the highest rent, was the Samsung Seocho building, which set a monthly rent of 107,000 won per 3.3㎡. This is followed by △ASEM Tower (105,000 won) △Meritz Tower (105,000 won) △GS Tower (104,900 won) △City Airport Tower (99,800 won) △Kyobo Tower (98,000 won).

Gangnam Finance Center has been the most rented building in the Gangnam area since its completion in 2011. This building was transferred from Hyundai Development Company to the American company Lone Star in 2001, and its name was changed from i-Tower to Star Tower, and in 2007 it was changed to Gangnam Finance Center. The total floor area of this building is 212,615㎡ and there are a total of 31 elevators. It is the largest among single buildings.

The Samsung Seocho office building, which ranked second in rent, was completed in 2007. It is known that it was built as an alternative after the Samsung Group's original attempt to build a large-scale Samsung Town on the site of the current Tower Palace fell through. The total floor area of this building is 110,611㎡ and the number of permanent residents is 20,000.

ASEM Tower, which ranked tied for 3rd place, and City Airport Tower, which ranked 6th, were analyzed to have high rental prices due to the merit of exclusive use rates. The two buildings were found to have occupancy rates of 65.03% and 70.01%, which significantly exceed the average occupancy rate of large buildings of around 50%. In addition, representative buildings in the Gangnam area, such as Meritz Tower, GS Tower, and Kyobo Tower, ranked high as expected.

Meanwhile, the industry predicts that Gangnam Finance Center will take its place as the building with the highest rent in the Gangnam area next year. Although they were not ranked in this survey, Lotte World Tower and Parnas Tower are currently being marketed at a monthly rent of 120,000 to 130,000 won per 3.3㎡.

An official from Remax Wide Partners said, “As the rent for both buildings exceeds the current highest level, it is expected to record the highest rent in the Gangnam area next year.”

Original link: http://www.etoday.co.kr/news/section/newsview.php?idxno=1359393