Chart of the Day: Private office rentals dipped 1.1% in Q2

No thanks to bleak demand and rising supply.

This chart from the Ministry of Trade and Industry (MTI) shows office space rentals dipped by 1.1%, extending the 3.4% drop in the previous quarter.

Average occupancy also slid down from 87% in Q1 to 86% in Q2.

MTI said this was due to bleak demand in spite of rising supply.

Meanwhile, private retail rentals fell by 1.2% in Q2, extending the 2.9% drop from the previous quarter.

Retailers continued to face challenging operating conditions, even as the supply of retail space continued to increase.

Occupancy rate of private retail space stayed 91%, lower than the average occupancy rate of 93% achieved in the past five years.

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Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley