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Taipei MarketBeat Reports

Eason Lee • 12/04/2024
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Q1 2024 Highlights

Office: Grade A office quarterly net absorption reached 5,700 pings in Q1 2024.

Retail: Consumer spending trends continued to normalize in the first quarter of the year, enabling steady growth in retail revenues.

Industrial Office: Partial lease terminations in the quarter saw modest vacancy movements within NHTP.

Capital Markets: Commercial real estate investment market sentiment warmed in Q1 to achieve transaction volume of NT$22.0 billion.

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

CURRENT MARKETBEATS

Office Buildings CBD
Taipei Office MarketBeat

Grade A office quarterly net absorption reached 5,700 pings in Q1 2024, a nearly three-year high, excluding self-use headquarters buildings. The overall average vacancy rate fell by 0.7 percentage points q-o-q to 5.4%. Office market leasing preferences are diverging between core and outlying areas. Average monthly Grade A office rents climbed 0.7% to record NT$2,730 per ping.
 

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Warehouse Internal Rack
Taipei Industrial Office MarketBeat

Partial lease terminations in Q1 saw modest vacancy movements within NHTP. Vacancy in Xihu Section moved up to 3.6%, Wende Section vacancy dropped to 6.1% and Jiuzong Section moved up to 12.3%. Overall rental levels remained stable q-o-q, with capital values gaining slightly. Ahead, we expect to see technology industries continue to drive self-use expansion demand.
 

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Shopping Retail
Taipei Retail MarketBeat

Consumer spending trends continued to normalize in Q1, enabling steady growth in retail revenues. Department store sales grew just modestly in the holiday period due to outbound travel, but convenience store sales climbed 7.0% y-o-y and other sectors’ sales, led by duty-free stores, jumped 16.7% y-o-y. The Ximen retail hub revival continued, with vacancy falling to 3.8%.
 

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Office Buildings CBD
Taipei Capital Markets MarketBeat

Commercial real estate investment market sentiment warmed in Q1 2024 to achieve transaction volume of NT$22.0 billion, up 57.3% y-o-y. Technology industry firms were the key drivers, with acquisitions of industrial office buildings and factory properties for self-use. Land market transaction volume jumped 77.7% q-o-q to record NT$63.7 billion, with developers showing renewed interest.
 

Click here to download the report

RELATED INSIGHTS

Sustainability
Article • Sustainability / ESG

Sustainable Dilapidations – Shifting Trends in The Green Agenda

The real estate industry is slowly shifting more towards retaining and repairing as opposed to demolishing and replacing. Whilst financial pressures continue to drive dilapidations, the real estate industry is on the journey to ensure sustainability is at the forefront of dilapidations.
Alex Charlesworth • 26/02/2024
landlords vs tenants
Article • Sustainability / ESG

Landlords vs Tenants: Future MEES Conflicts

The pressure on Landlords is growing. Cushman & Wakefield is seeing evidence that investors are reducing purchase offers accounting for the capital expenditure required to meet minimum energy efficiency standards.
Alex Charlesworth • 22/01/2024
Guide Cost
Article

Civil construction: main factors that have inflated the costs of the sector

The last 12 months have once again put the office market to the test. The easing of supply chain constraints has done little to curb the rising costs and material delays that continue to plague the construction industry.

26/07/2023
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