[NewsSpace=Jack Moon] July 2024 saw a significant uptick in factory and warehouse real estate transactions across South Korea, with 568 deals totaling 1.7 trillion won.
This represents a 19.1% increase in transaction volume and a 2.3% increase from June. Chungbuk province led the growth with a remarkable 1,296% increase in transaction value.
Other regions, including Jeonnam, Ulsan, Daegu, Sejong, and Gangwon, also experienced substantial growth.
In the Seoul metropolitan area, both Seoul and Incheon saw significant increases in transaction values. Gyeonggi Province, the country's largest market for such properties, saw an increase in the number of transactions but a decrease in total value.
A notable large-scale transaction involved LaSalle Asset Management's acquisition of a warehouse in Anseong for 318 billion won.
Industry experts suggest that such activity indicates a gradual recovery of the logistics center market following a period of oversupply.
This trend reflects changing dynamics in the commercial real estate sector, potentially influenced by shifts in industrial and e-commerce activities.
