Taiwan new office supply reaches 110,668sqm in H1 2024

No more new supply is expected in the second half of the year.

The Taiwan office leasing market was booming in Q2. According to Colliers, although 12,318 ping (40,720 sq m) of Huangxiang Taipei Plaza was released, the net take-up reached 12,345 ping (40,810 sq m), causing the vacancy rate down to 5.8%. 

Here’s more from Colliers:

The new supply in the West district drove the vacancy rate to 12.64%. The Hsin Yi district had significant absorption due to the moving in of Fubon A25, and the vacancy rate dropped down to 7.08%. 

In 2024 H1, the total new supply was 33,477 ping (110,668 sq m) and the total take-up was 39,040 ping (129,058 sq m). The leasing expansion was mainly driven by the tech and health-care related sectors.

Colliers forecasts no more new supply in H2, and the overall stock remains at 1.39 million ping (4.60 million sq m).