Taipei to see 47,000 ping of new office completions this year

Around 24,000 ping will seek market absorption.

New office supply expected in 2026 is set to shift leasing dynamics in Taipei’s CBD, according to JLL.

The firm forecasts around 47,000 ping of new office completions in 2026. After accounting for owner-occupation and pre-committed space, JLL estimates about 24,000 ping will be available for market absorption, potentially giving tenants greater leverage in lease negotiations.

JLL also noted that while premium office rental growth is expected to moderate, demand for sustainable buildings remains strong. Offices with LEED and WELL certifications are continuing to achieve green rental premiums, while hybrid work trends are driving occupiers to seek flexible lease terms and shared amenities.

Here’s more from JLL:

Taipei’s core business district captured a staggering around 19,600 ping of leased space in Q4 2025, representing 45% of annual transaction volume. This exceptional quarterly performance significantly exceeded typical seasonal patterns and demonstrated strong market momentum.

The strong performance was driven by new developments like Cathay Cosmos, Yuanta Silver Star and Kingdom Mingchang buildings, with landlord strategies proving crucial for absorption and achieving 14,065 ping net take-up.

Strong absorption offsets new supply impact

Overall, Q4 2025 demonstrated strong absorption, with CBD vacancy remaining subdued and declining 0.5% quarter-on-quarter. The Xinyi submarket saw the largest improvement, dropping 0.6% QoQ, confirming that prime district buildings remained tenants’ preferred choice.

The Dunhua North submarket saw new supply from the Cathay Cosmos building (10,440 ping or 34,524 sq m). Despite this addition, landlords’ strategic leasing approach restricted vacancy growth to only 0.5%, reflecting strong market control.

Rental growth tempered by market rebalancing

Alongside this vacancy improvement, Q4 2025 Taipei CBD rents averaged TWD 3,258 per ping, advancing 1.2% QoQ and 1.7% YoY. The measured growth trajectory reflects tenant-favourable market conditions driven by increased development pipeline deliveries.

The Dunhua North submarket commanded the highest rental uplift at 4.2% quarterly and 7.6% annually. Performance was underpinned by premium green-building stock that repositioned the submarket’s rental level upward.