10Y UST4.99%-0.20%30Y MTG7.32%-1.08%SOFR3.94%-0.25%VNQ$93.46+1.82%XLRE$42.87+1.76%FED FUNDS3.88%
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Real Estate Asia · Office

Seoul H1 office vacancy rate rises to 4.9%

Via Real Estate Asia · September 14, 2026
Compiled by Real Estate Trail Editorial · September 14, 2026

Why this matters

Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.

Editorial analysis · Real Estate Trail Editorial

On the RET wire

  • Disclosed office deal value tracked in September 2026: $14.7B across 78 reported transactions. All Office coverage →

Computed from Real Estate Trail’s own tracked coverage

Read the full article at Real Estate Asia →

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