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3Q 2020 | Taiwan | Office

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2Q 2020 | Taiwan | Office

Resilient economic growth and stable business operation push the rent to increase

Taiwan has had relatively little impact from COVID-19. Most firms maintained daily business operations, with the highest percentage returning to office in the APAC region. 
Although net absorption was negative, demand came mainly from lease renewals with some TMT sector expansion. We expect vacancy to drop and rent to increase in Q4 2020.
With low new supply before 2023, we suggest occupiers be flexible, including lease terms, location and office types, and search for suitable pre-leasing opportunities. 
We recommend occupiers use the pandemic to redefine their workspace. Flexibility would be a prominent feature for tenants. Landlords should also put more emphasis on buildings’ flexibility and finishing and fit out.

2Q 2020 | Taiwan | Office

3Q 2020 | Taiwan | Office

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