Savills – Korea Office Market Outlook, 2025

The main theme of the report is the analysis of the office real estate market in South Korea for 2025. Key findings include no new supply expected in 2025, maintaining low vacancy levels similar to 2024, with slight increases possible due to relocations outside main business districts and corporate branch movements. Rent growth, which has outpaced consumer price inflation since 2021, slowed in the second half of the year, with 2025 rent growth expected at 2-4% annually. A slight expansion of the office real estate investment market is anticipated in 2025, driven by factors such as the maturity of real estate funds and the growth of corporate REITs.