Leasing activity was strong in Q4 2018 and no new Grade A office supply was completed. Grade A office net absorption registered around 88,000 sq. m., an increase of 134% y-o-y.


Retail sales were relatively stable, recording growth of 1.1% q-o-q (5.5% y-o-y) in Q3 2018. Leasing demand was driven by lifestyle brands and duty free stores.


Demand for cold-chain logistics centers continued to grow amid rapid expansion by local e-commerce firms and conglomerates.


Commercial real estate transaction volume stood at KRW 12.9 trillion in 2018, marking an increase of 84% y-o-y, the highest ever annual total.