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Taipei MarketBeat Reports

Eason Lee • 09/10/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Q3 2024 Highlights

Office: Two new Grade A completions brought 17,000 pings of quality space to the market in Q3.

Retail: Retail revenues maintained growth in Q3, partially aided by the summer Olympics.

Industrial Office: New absorption prompted modest vacancy declines within NHTP in Q3.

Capital Markets: Total Q3 transaction volume reached NT$55.96 billion, up 64% q-o-q.

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

CURRENT MARKETBEATS

Office Buildings CBD
Taipei Office MarketBeat

Two new Grade A completions, in Dunnan and Xinyi submarkets, added a combined 17,000 pings of quality space to the market in Q3. The new supply prompted the overall vacancy rate to rise 1.4 percentage points to 9.1%. Average monthly Grade A office rents moved up 1.1% q-o-q to NT$2,800 per ping. Substantial new supply is scheduled through 2027.

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Warehouse Internal Rack
Taipei Industrial Office MarketBeat

New absorption activity prompted modest vacancy declines within NHTP in Q3. Vacancy in Xihu Section dropped to 3.3%, in Wende Section to 6.0% and in Jiuzong Section to 11.4%. Overall rental levels remained stable q-o-q, with capital values edging up. Expansion demand from existing technology industries is set to continue to drive NHTP space needs.

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Shopping Retail
Taipei Retail MarketBeat

Retail momentum continued in Q3, partially aided by the summer Olympics. Department store sales grew 2.0% y-o-y, supermarket sales 4.8% and convenience stores 5.2%. Other category sales continued to benefit from surging cross-border travel and duty-free stores, rising 8.1%. Confidence in the Ximen retail hub continued to strengthen, with vacancy at 3.82%.

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Office Buildings CBD
Taipei Capital Markets MarketBeat

Technology firms focusing on self-use factory and office properties were the key drivers of investment activity in Q3. Total quarterly transaction volume reached NT$55.96 billion, up 64% q-o-q, with industrial and I/O assets taking an 88% share. Land market transaction volume of NT$111.7 billion pushed the year-to-date 2024 total to NT$214.4 billion, surpassing the full-year 2023 figure. Developers are continuing to replenish land inventory.

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