Taipei to see substantial office supply influx in 2028

Around 110,000 ping of new office space is expected to be completed.

Taipei's CBD office leasing market expanded strongly in Q1 2026, with leasing activity reaching 13,100 ping, or approximately 43,300 square metres, representing annual growth of 20%, according to JLL.

The firm said demand was driven by office upgrade activity and multinational companies establishing new operations in the city. Technology companies accounted for 38% of leasing activity, absorbing more than 4,000 ping as AI-related expansion accelerated, while financial services represented nearly 30% of total leasing volume.

Despite new supply entering the market, Taipei CBD absorbed 4,547 ping during the quarter and maintained a vacancy rate of 6.4%. JLL said ongoing tenant demand and landlords reclaiming space for owner occupation helped cushion vacancy pressures.

In the investment market, JLL noted that office assets continue to attract interest as defensive investments. A notable transaction was Highwealth Construction Corp's acquisition of the TransGlobe Life Insurance Xinyi Office for TWD6 billion.

JLL expects around 59,000 ping of new CBD office supply to be delivered this year, with nearly half earmarked for owner occupation. The consultancy said significant supply pressure is unlikely until 2028, when approximately 110,000 ping is scheduled for completion.