This year, the number of newly occupied commercial spaces nationwide decreased by about 5,000 compared to last year. This is interpreted as a result of weakened investor sentiment in commercial properties.
On the 31st, Real Estate R114, through its commercial real estate solution RCS, reported that the number of newly occupied commercial spaces this year was 29,485. This figure is about 5,000 less than last year's 34,514.
By region, the metropolitan area accounted for 20,477, while non-metropolitan areas totaled 9,009. Notably, the number of newly occupied commercial spaces in non-metropolitan areas increased by 25% compared to last year's 7,183.
By type, neighborhood commercial spaces had the highest occupancy nationwide with 10,464 units. This was followed by mixed-use residential-commercial spaces with 5,529 units and complex internal commercial spaces with 5,253 units. Overall, 72.1% of this year's newly occupied commercial spaces were located in areas supported by residential demand.
Regarding commercial spaces adjacent to office and knowledge industry centers, the metropolitan area, where businesses are concentrated, had 5,363 units (3,283 office commercial spaces and 2,080 knowledge industry center commercial spaces), which is eight times more than the 666 units in provincial areas (361 office commercial spaces and 305 knowledge industry center commercial spaces).
Yeokyunghee, Senior Researcher at Real Estate R114, explained, "During times of increasing economic uncertainty like now, investment is expected to concentrate on prime commercial spaces within stable commercial districts. Interest in newly developed commercial spaces with high prices and heavy loan interest burdens is declining, so commercial spaces in areas with high supply pressure or limited foot traffic are likely to be overlooked."
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