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Taipei MarketBeat Reports

Eason Lee • 04/07/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Q2 2024 Highlights

Office: Four new Grade A completions in Q2 included two properties in Western submarket.

Retail: Retail revenues maintained growth in Q2, with a mild boost from Mother’s Day spending.

Industrial Office: New absorption, combined with some lease terminations, prompted modest vacancy movements within NHTP.

Capital Markets: Commercial real estate investment market trends continued in Q2, with transaction volume of NT$29.1 billion.

Learn more by clicking our most recent Taipei MarketBeat reports below.

CURRENT MARKETBEATS

Office Buildings CBD
Taipei Office MarketBeat

Four new Grade A completions in Q2 included two properties in Western, boosting the submarket's stock by nearly 50%. The new supply, coupled with pending occupancy, pushed the overall average vacancy rate up 2.3 percentage points q-o-q to 7.7%. Average monthly Grade A rents climbed a further 1.5% q-o-q to NT$2,770 per ping. Upcoming new supply is scheduled across submarkets.
 

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Warehouse Internal Rack
Taipei Industrial Office MarketBeat

New absorption, combined with some lease terminations, prompted modest vacancy movements within NHTP. Vacancy in Xihu Section dropped to 3.5%, Wende Section rose to 6.3% and Jiuzong Section fell to 11.7%. Overall rental levels remained stable q-o-q, with capital values gaining modestly. Ahead, we expect to see technology industries continue to require self-use expansion.
 

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Shopping Retail
Taipei Retail MarketBeat

Retail revenues maintained growth in Q2, with a mild boost from Mother’s Day spending. Department store sales grew 2.6% y-o-y, supermarket sales 4.6% and convenience stores 5.9%. Other category sales continued to benefit from swelling traveler numbers, with duty-free stores rising 9.1%. The Ximen retail hub revival continued, with vacancy falling to 3.5%.
 

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Office Buildings CBD
Taipei Capital Markets MarketBeat

Commercial real estate investment market trends continued in Q2, with transaction volume of NT$29.1 billion up 21.4% q-o-q. Self-use buyers remained the mainstay, with acquisitions of office, industrial office, and factory properties. Land market transaction volume of NT$39.0 billion pushed the 1H 2024 transaction total to NT$102.7 billion, up 164% y-o-y. Developers are targeting land for development in a now robust residential market.
 

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