SUMMARY

• Despite new supply equivalent to 4.5% of the total CBD stock in 2026, vacancy in other districts is expected to remain broadly steady.
• Seoul prime office face rents are projected to increase by 2–4% in 2026; however, effective rental growth is likely to remain muted, as tenant incentives diverge by district and asset quality.
• The 2026 office investment market is expected to remain resilient, supported by ongoing participation from strategic investors and owner-occupiers.
• A sustained rate-hold environment, coupled with liquidity inflows from blind funds, is expected to support investor participation.