In May, the transaction volume and transaction amount of office spaces in Seoul recorded the highest levels of the year. In contrast, office buildings showed a sharp decline in both transaction volume and amount.
On the 8th, according to RealtyPlanet, a commercial real estate technology corporation, the transaction volume of offices in Seoul in May reached 185 cases, an increase of 153.4% compared to May of last year (73 cases).
The transaction amount was 890.4 billion won, a nearly 39-fold increase compared to the same period last year (23 billion won). Compared to the previous month, transaction volume increased by 49.2%, and transaction amount increased by 304.5%, respectively.
The transaction volume and transaction amount of offices in May were the highest levels recorded this year. This reflects that 53 offices at 'Centreville Astirium Seoul' in Dongjak-gu were transacted at a scale of 649.5 billion won all at once.
In contrast, the transaction volume (4 cases) and transaction amount (103.3 billion won) of office buildings in Seoul decreased by 20.0% and 61.1%, respectively, compared to the same period last year. Compared to the previous month's transaction volume (10 cases) and transaction amount (1.25 trillion won), it dropped by 60.0% and 91.7%, respectively.
Looking at the statistics by transaction entities, in the case of office buildings, individuals and corporations each purchased 2 cases out of 4, while in the case of offices, 140 cases, or 75% of the total transactions, were corporate purchases. In terms of amount, transactions between corporations accounted for 95.6% of the total.
The average vacancy rate of office buildings was 3.44%, an increase of 0.07 percentage points from the previous month (3.37%). The average expense per office area (NOC) was 200,182 won, up 132 won from last month.
Jeong Su-min, representative of RealtyPlanet, noted, 'The sales of offices in May showed a declining trend due to poor transactions of large buildings, but the office market recorded the largest transaction amount of the year due to concentrated transactions in specific buildings.'