3Q23 Taipei Commercial Real Estate Market Report
Average Monthly Rent Rates Reach Unprecedented Heights
October 03, 2023
- Jessy Yang
Office Leasing Market Summary:
- The vacancy rate has increased due to the release of new office supply in Xinyi.
- In the Dunhua North and Dunhua South markets, the vacancy rates continue to decline.
- The anticipated fluctuation in the vacancy rate is likely to be short-term. Over the next 3 years, it is expected that the overall vacancy rate will remain relatively low due to market adjustments and absorption of the new supply
Investment Market Summary:
- The cumulative transaction volume of commercial real estate has achieved NT$74.8 billion. A substantial escalation in trading activity would be instrumental in striving towards the 1 trillion NT dollar threshold
- The land market transaction volume for this quarter has climbed to NT$39.3 billion, marking sequential growth. Within the market landscape, Taoyuan and Taichung stand out as primary hubs for developer investments.
- The upswing in public land auction activity is contributing to a consistent enhancement of market confidence. This progression denotes an encouraging trend in the wider market panorama.