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1Q 2022 | Taiwan | Office

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2022 will still to be a landlords’ market, with vacancy dropping 1.3 pp YOY

With no new supply in Q1 2022, rents continued to rise. In Taipei, the sporadically-scattered availability of space complicated relocation. We expect renewals and small-sized relocations to dominate the market, together with the lower new supply, the vacancy rate will continue to drop through 2022. 

  • Enterprises are following ESG standards by selecting buildings with LEED or WELL certification. Companies are prioritizing corporate culture and the comfort, health and flexibility of the office space. We suggest landlords and developers upgrade existing building equipment or install relevant equipment to proactively obtain certification.
  • We expect the tech sector will be the main demand driver in the coming two years, with the demand for talent in the technology industry continuing to increase. We believe high-quality buildings with value-added services are key to attract tenants and talents. 

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1Q 2022 | Taiwan | Office

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