Taiwan office property sector to be a tenants’ market in 2025

New office supply is expected to peak, and it might take a long time for it to be absorbed.

The pressure of new supply in 2024 is limited due to the postponement of building construction, and the market is still promising according to a Colliers report. Landlords still have advantages in negotiating rents. The rental appreciation in H1 was 2.2%, close to the whole-year growth in the past years.

“The new supply will peak in the next two years, with 87,689 ping in 2025 and 114,727 ping in 2026, totaling over 200,000 ping. We expect 2025 to turn out to be a tenant market. It might take a long time to absorb and the rental growth is also a challenge,” the report added.

Here’s more from Colliers:

Encouraged by the rent of newly-built buildings, the rent of Grade A and Grade B buildings also lifted. The average rent in Q2 rose to NTD2,641 per ping (USD24.7 per sq m) per month.

Xinyi district had the most significant QOQ increase of 1.84%, reaching NTD3,354 per ping (USD31.4 per sq m) per month. The second one was TUN S district with QOQ increase of 1.11%, achieving NTD2,282 per ping (USD21.4 per sq m) per month.

The rent of Premium Grade was NTD4,379 per ping (USD44.0 per sq m) per month, but at a moderate QOQ growth of 0.06%.

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