Logistics Marketbeat Report

In the second half of 2024, new logistics center supply in the Greater Seoul Area reached approximately 1.59 million sqm, marking a 40% y-o-y decline. However, the high proportion of large-scale assets led to a relatively moderate decrease in total supply area. A total of 18 logistics center transactions were recorded, with strong participation from global investors. The total transaction volume stood at approximately KRW 2.1 trillion, down 24% from the previous period, though core transaction volume, excluding NPL dispositions, increased. The oversupply of logistics centers is expected to gradually ease after 2025, with investment sentiment likely to improve following interest rate cuts, although NPL dispositions are expected to persist.