Busan Gwangalli commercial district review
On-site walkthrough of Gwangalli and Namcheon-dong: a 9.3bn KRW Starbucks building, a motel conversion running at full occupancy, and three buildings traded at once.
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Field reports and analysis on Seoul commercial real estate from the BSN brokerage team — district walkthroughs, transaction case studies, financing and regulation.
The full articles are written in Korean. Titles and summaries below are in English; select an item to open the original.
District & Building Reviews
17 articles
Bukchon, Gyedong and Hwadong building review, part 2
A 3.5bn KRW hanok rebuild, a Blue Bottle site that moved from 9bn to 22bn KRW, and a 40bn KRW Amorepacific investment.
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Bukchon and Gyedong building review
Olive Young's site doubled per-pyeong in two years; a 2bn KRW building yielding close to 5%; the London Bagel property.
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Is Garosu-gil worth buying now?
Two brokers with twelve years on the street discuss how Apple reshaped the area and what a rebound would look like.
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Five award-winning buildings in Gangnam
A drive-through look at the Louis Vuitton, Gucci, Harim and Songeun buildings, and what makes their architecture pay.
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Hannam-dong Soonchunhyang Hospital district review
A 17bn KRW new build, sharply rising rents around star-chef restaurants, and a 7.4bn KRW headquarters purchase.
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Hannam-dong Embassy Road district review
How Sounds Hannam reshaped the area, plus a 20.3bn KRW investment and other notable trades.
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Hannam-dong Comme des Garçons street, back-lane review part 2
A 7.2bn KRW headquarters, a property that went from 5.3bn to 7.2bn KRW, and one estimated to have tripled.
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Seongsu-dong Atelier-gil review, part 2
A building that moved from 4.6bn to 11.9bn KRW — four to five times per pyeong in six years.
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Seongsu-dong Atelier-gil building review
A 33.6bn KRW purchase by Musinsa's chairman, a property reported from 29.3bn to 120bn KRW, and a 46.8bn KRW acquisition.
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Seongsu-dong East Yeonmujang-gil review, part 2
A 10-pyeong guard post renting for 30m KRW a month, a 13bn KRW one-year gain, and a 19bn KRW cash purchase.
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Hannam-dong Comme des Garçons street building review
A 12.6bn KRW purchase, a 7.8bn KRW one, an auction that went from 2.1bn to 5.3bn KRW, and a record 350m KRW per pyeong.
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Seongsu-dong East Yeonmujang-gil building review
A fivefold gain for Musinsa, pop-ups taking 20m KRW a day, and a 130bn KRW megastore.
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Seongsu-dong West Yeonmujang-gil review, part 3
Amorepacific, Covernat and Krafton sites, walked through with the yield maths.
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Seongsu-dong Yeonmujang-gil building review
A 11.7bn KRW North Face building, a tenant paying 400m KRW a month, and the salt-bread bakery property.
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Seongsu-dong West Yeonmujang-gil building review
Three buildings, annual yields of 5.4% to 6.6%, checked on site.
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Only districts that draw foreign visitors will survive
Foreign spending as the clearest signal of a district's durability.
Read the original in KoreanInvestment & Financing
16 articles
A small-building renovation that worked, in Cheongdam-dong
Choosing the target tenant, adding a lift, and sending 800 proposals — all four floors leased within two weeks of completion.
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Seongsu-dong auction property, analysed on site
198 pyeong of land, a 39bn KRW floor price, roughly 200m KRW per pyeong — is this a way into Yeonmujang-gil?
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Fifteen years of brokerage, discussed frankly
The signals that a commercial district is dying, how to buy a building well, and where the market goes next.
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Sinsa-dong 510 auction property
620 pyeong on a back street by Sinsa Station, at a 28.5bn KRW asking price.
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Why we wanted to buy the 13.7bn KRW Cheonggu Building
Buying a building that carries a story, and what that is worth.
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From a Gangnam soup restaurant to a beauty salon
A capital gain achieved through location alone, without construction.
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Why tenant-industry analysis decides retail returns
Reading which business types will hold up before you buy.
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When leaving a building empty beats a weak lease
Why a marginal rental yield can cost more than vacancy.
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Buying as your own headquarters can unlock up to 90% financing
Loan-to-value limits on commercial buildings depend on intended use.
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Sell a 4bn KRW building for 10bn — what actually remains?
Working through the real net proceeds on a headline gain.
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A pharmacy took the whole building
What a single-tenant, whole-building lease does to valuation.
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Buildings sold by owners in their 60s and 70s, bought by those in their 40s and 50s
A generational handover is moving through the Seoul market.
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Your headquarters location is a hiring advantage
A signal building owners should be reading in tenant demand.
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Visiting three banks can cut tens of millions in interest
Why commercial mortgage terms vary far more than owners expect.
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Korea's 460,000 wealthy households and why they buy buildings
What commercial property does in a large Korean portfolio.
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Why a rate-cutting cycle is a buying window
How falling rates move commercial building prices, and the lag involved.
Read the original in KoreanRegulation & Development
3 articles
Sunlight-setback easing passes: a two-year window for owners
The revised right-to-light setback rule and a 50% floor-area-ratio incentive, valid for two years. What second- and third-class zone owners should do now.
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Development news that looks good and turns out badly
When a nearby project hurts the building you already own.
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A three-year floor-area-ratio incentive you should not miss
The window, the conditions, and who benefits most.
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3 articles
Commuting with Tesla FSD
Why autonomous driving changes where commercial property is worth owning.
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We shot the first BSN podcast episode
Behind the scenes of our new commercial real estate podcast.
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Building software without developers
How BSN brought AI development in house, and what it changed.
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