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Taipei MarketBeat Reports

10/04/2023
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Q1 2023 Highlights

Office: Office market performance remained steady in Q1.

Retail: Retail sales were boosted with the return of tourists.

Industrial Office: Demand was somewhat cooler in the quarter.

Capital Markets: Investment activity shrank quite markedly in Q1.

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

CURRENT MARKETBEATS

Office Buildings CBD
Taipei Office MarketBeat

Market performance remained steady in Q1, limited available supply contributing to average monthly Grade A rents rising a further 0.4% q-o-q to NT$2,650 per ping. Overall vacancy edged up 0.2 percentage points q-o-q to 4.0%. Ahead, occupiers’ adjustments to leased space, along with ongoing completion of new projects, should see the minimal vacancy rate start to climb.
 
 

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Warehouse Internal Rack
Taipei Industrial Office MarketBeat

Cooler demand in Q1 saw vacancy in Xihu Section remain at 3.0%. Vacancy at Juizong Section climbed to 13.6% with some tenant exits, while Wende Section was stable q-o-q at 5.5%. Rents and capital values remained constant q-o-q. Slower transaction activity amid a cautious environment is expected ahead.
 

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Shopping Retail
Taipei Retail MarketBeat

Retail sales were boosted in Q1 as the Lunar New Year and 228 weekend combined with the return of tourists. General retail sales for January to February rose 10.4% y-o-y. Department store sales grew 16.9% y-o-y while convenience store sales climbed by 8.7% y-o-y. The revival of Ximen district continued, with vacancy dropping another 4.3 percentage points to 14.3%.
 

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Office Buildings CBD
Taipei Capital Markets MarketBeat

Investment activity shrank in Q1, total volume of NT$14.00 billion down 59.1% y-o-y to mark the lowest quarterly figure since 2019. Investors focused on industrial and office assets, with self-use buyers dominating. Land sales also fell sharply with volume at just NT$16.3 billion, a nearly ten-year low. Further compression of investment transactions is likely ahead as prices remain firm.
 

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RELATED INSIGHTS

hotel reception desk
Insights • Hospitality

Europe Hotel Operator Beat

This is an ongoing survey which started on the 21st of April 2023.
25/05/2023
card image - hospitality marketbeat 2022
MarketBeat • Hospitality

Europe Hospitality MarketBeat

Europe experienced healthy hotel investment activity in Q1 2023 (+18% vs Q1 2022) despite high financing costs and economic & geopolitical concerns; this was driven by several major transactions (e.g., The Westin Paris, Mandarin Oriental Bodrum, and Le Richemond Geneva).
25/05/2023
Article • Industrial

GTA Industrial Market Insights

This year kicked off with a shift in gears for the GTA’s industrial market. Overall vacancy inched up by 20 basis points (bps) to 1.1% on the heels of six straight quarters below the one percent mark. The uptick was due in large part to the addition of new vacancies from the older stock of less efficient buildings. 
Juana Ross • 23/05/2023
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