| In the past, the success formula for Seoul's commercial districts was 'proximity to subway stations' and 'demand from office workers.' However, as of 2026, this formula has been completely broken. As Seoul Megacity entered Euromonitor’s ‘Top 10 Travel Cities in the World’ for the first time in history, standing shoulder to shoulder with Paris and Tokyo, a tectonic shift occurred in which the attraction of foreign tourists ‘overwhelmingly’ divided the landscape of rental rates and investment returns.
■ High exchange rates and K-content pulled the fuse… 2 million monthly foreign visitors erased the distinction between weekdays and weekends
Thanks to favorable factors such as the recent high exchange rate reaching a peak of 1,513.4 won and the strong K-content craze, 2 million foreign visitors pouring in each month are opening their wallets in Seoul's commercial districts without distinction between weekdays and weekends. This 'K-tourism butterfly effect' is proven by concrete figures.
Myeongdong, which ranks first in the proportion of foreign tourists (19.11 TP3T), recorded a rent of 147,600 won per square meter for small commercial spaces, easily surpassing Gangnam-daero (84,700 won), a traditional office district, to take the overwhelming first place nationwide. This illustrates just how formidable the fundamental strength of a commercial district filled by foreigners can be.
■ Combining 'Tourist Destinations' to Surpass Office and Residential Demand… The Survival Formula for Seoul Commercial Real Estate
Seongsu-dong's advance is also fierce. Seongsu-dong (Ttukseom), where foreign preference has surged explosively by 3.41 TP3 Tp in just one year, swept the top spot in overall investment returns in Seoul for both small-scale (3.121 TP3 T) and medium-to-large-scale (3.781 TP3 T) commercial property sectors in the second quarter of this year. Asset values are skyrocketing most steeply as soon as it earned the title of a "global tourist destination sought after by people from all over the world."
Commercial districts focused solely on the domestic market, relying on the demand of office workers working five days a week, can no longer overcome the hurdles of weekend vacancies and economic downturns. With domestic demand alone unable to sustain the already inflated prices of Seoul's commercial districts, we are now in an era where a district must absorb the demand of foreign tourists like a sponge to be recognized as a legitimate commercial hub. Ultimately, the combination of global tourism content and infrastructure that transcends office and residential demand has become the new standard for commercial real estate investment in Seoul.
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