By Petra Blazkova on February 1st, 2019
Seoul recorded its strongest year for commercial real estate activity ever in 2018 and is tied with Tokyo in the rankings of the largest Asia Pacific real estate markets, preliminary Real Capital Analytics data shows.
Investment activity surged more than 50% in 2018 compared with 2017, boosted by demand from both domestic and cross-border buyers. Average yields for office and retail properties fell to 4.5% by the end of the year, the lowest level RCA has recorded.
In the fourth quarter of 2018 the South Korean capital did show some signs of slowing. Activity was sustained by domestic institutional investors such as IGIS, KORAMCO and KB Financial Group.
Real Capital Analytics will report on which Asia Pacific markets and countries gained strength during 2018 in the next edition of Asia Pacific Capital Trends, which will be published February 5. If you are interested in learning more about RCA’s publications, data and tools, contact us.