Taiwan office vacancy rate to decrease to 5.3% by end-2024

The ICT and healthcare sectors will continue to drive leasing demand.

Without new supply in H2, Colliers said the Taiwan office market will absorb the existing stock, and the year-end vacancy rate possibly decreases to 5.3%, with the forecasted rent to NTD2,661 per ping (USD24.9 per sq m) per month.  

Here’s more from Colliers:

The uncertainty of construction makes some new completion postpone to 2025 and 2026. We expect a highly-rising vacancy rate within the two years. 

The demand mainly came from local firms’ relocation and expansion. Compared to last year, the MNCs also speed up the decision-making. 

The ICT sector, health-care related sector, and energy related industries will continue to be the main driver in the leasing market.