Total net absorption of quality office space in Taipei’s major office districts improved in Q2 2021, underpinned by rising enquiries for office expansion. However, the slow recovery in take-up continues to reflect the cautious stance taken by many occupiers amid ongoing economic uncertainty.
Amid a continuing shortage of medium and large offices for rent, Taipei’s office market remains in favour of landlords.
CBRE expects most occupiers to adopt a cautious approach towards headcount planning in the near future, which may result in a slowdown in office leasing activity over the next few quarters.
Leasing demand is set to be driven by technology companies, with selected MNCs likely to reduce space upon lease renewal. Office rents will continue to see steady growth in the coming months on the back of low vacancy.