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Developers are expanding land banks aggressively, contributing to 60% of transactions in Q1/2024.
- Supported by the application of AI technology and recovered exports, Taiwan business indicators turned positive in January, with an estimated 3.43% GDP growth in 2024 by DGBAS.
- Transaction volumes of commercial properties reached NT$39.4 billion in Q1, increasing by 140% YoY and falling by 14% QoQ. The land market turned active, with transaction volumes increasing by 281% YoY to NT$43.1 billion.
- Office and industrial offices dominated the market, reaching NT$17.2 billion and NT$7.8 billion respectively. Major transactions included a strata-title office building in Taipei CBD which sold for NT$13.1 billion and Delta Electronics’ purchase of two industrial office buildings in Neihu for NT$4.79 billion.
- Developers and technology companies were the main buyers, investing NT$21 billion and NT$7.8 billion, respectively. While developers have a strong appetite, the demand from the technology industry remained stable.
- The sale of residential properties has significantly recovered since Q3/2023 which boosted land acquisitions from developers by 281% YoY (NT$30.5 billion), hitting a new eight-quarter high.