Net industrial leasing absorption for the second quarter in Seoul grew by 42 percent quarter-over-quarter, while the vacancy rate remained stable at 15.5 percent, according to analysis from JLL Korea.
New supply in first half 2026 amounted to only about 33 percent of the same period in the previous year, and with second-half supply projections lower than the first half, total annual supply is expected to be less than half of the previous year's level. Only three logistics centers received permits in the first half, a dramatic decline compared with 84 in 2023 and 32 in 2024. Rising construction costs and difficulties in sections of the market have significantly constrained the new development environment, and as a result, demand for existing assets with superior location and specifications is expected to continue expanding.
Investment transaction volume in second quarter 2026 reached KRW 889.9 billion ($623 million), up 19 percent quarter-over-quarter and approximately
