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4Q 2021 | Taiwan | Office

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2Q 2020 | Taiwan | Office

Resilient demand pushes vacancy down sharply with rents increasing

Despite the impact of Covid, we saw a stable leasing market in 2021. The vacancy rate declined to 4.1% and the vacant space was only 40,000 ping (about 132,000 sq m), both hitting a 20-year record low, pushing rental growth of 1.8% YOY. Looking ahead, the limited new supply will offer little help to the market; we still expect rising rents and decreasing vacancy in 2022.  

  • With industry trends reshuffling, we anticipate technology, electronics, and online related industries to drive the leasing demand in the next one to two years. 
  • New supply is scheduled to  gradually come online in 2023, and peak in 2025 and 2026. We recommend landlords work now to offer flexible lease terms and upgrade their facilities to retain tenants.

2Q 2020 | Taiwan | Office

4Q 2021 | Taiwan | Office

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