According to real estate sources, the national average office vacancy rate in the third quarter of 2025 was 8.91 tp3t, up 0.31 tp3t from the previous quarter (8.61 tp3t). The temperature difference in the Seoul metropolitan area, which had been performing well, was evident.

Gyeonggi Province recorded the largest increase in the nation, with a vacancy rate of 11.11 tpm (total 3 tons), up 4.11 tpm (total 3 tons) from the previous quarter. Seoul remained essentially flat at 5.31 tpm (up 0.31 tpm), while Incheon actually improved to 18.71 tpm (down 0.31 tpm). The vacancy rate is a key indicator of the "body temperature" of a regional office space. Lighted buildings indicate vibrant demand, while a higher vacancy rate is a key indicator of cooling market activity.

The sharp rise in vacancy rates in Gyeonggi Province was concentrated in the Bundang area. The Bundang Station area led the overall increase, jumping 8.51 tpa from 7.21 tpa to 15.71 tpa. This is attributed to the sale of large office buildings, changes in ownership, and the influx of new supply, which created a gap in leases.

Some regions, including the Honam region, which had been suffering from severe vacancy rates, showed signs of recovery. Gwangju saw its vacancy rate drop by 1.21 tp3Tp, from 19.61 tp3Tp to 18.41 tp3Tp, while South Jeolla Province (-0.71 tp3Tp) and South Chungcheong Province (-0.61 tp3Tp) also showed modest improvements. This trend was limited to certain regions, with many local cities still maintaining high vacancy rates and struggling to escape the recession.

The fourth quarter is unfolding with market conditions difficult to predict, with the impact of the October 15th measures overlapping with the winter off-season. Attention is focused on how the market will find its balance.

Check the listing: www.remax.co.kr 

Brokerage Information: www.remaxkorea.co.kr

# Real Estate Franchise # Real Estate Investment Fair # Real Estate Information # Real Estate Investment # Building Investment # Land Investment # Real Estate # Building Sales # Overseas Real Estate Investment # Remax # Real Estate Education # Real Estate Agent Growth # Remax Agent # Growing Real Estate Agent # Max Training # Real Estate Branding # New Real Estate Agent