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1Q 2021 | Taipei | Office

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Office Quarterly Report

Stable Demand and Moderate Rental Growth in 2021

Vacancy rose due to new supply in Q1, but the stable economy and recovering demand still drove rising rents. 
2021 is still a landlords’ market due to the limited available supply. We expect the rent to rise at a moderate rate and vacancy to drop. 
2024 should be a watershed in supply and demand, turning the market to a tenant-oriented market. We recommend:

  • Tenants renew their leases now and adopt flexible space designs or lease flexible workspace to accommodate expansion plans while lowering capital expenditures.
  • Landlords should begin renewal negotiations with favorable lease terms, while upgrading building facilities to secure stable occupancy and avoid being undercut on rents due to the substantial supply.

Office Quarterly Report

1Q 2021 | Taipei | Office

Download Report
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