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Taiwan Office Brief - Q1 2025

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Contacts & Related Research

Robust leasing demand in non-CBD

Office take-up approaching 5,000 pings, a reversal of the traditional firstquarter market slowdown

  • Although the Trump administration’s reciprocal tariff policy raises concerns for Taiwan’s economy, most corporations were profi table last year, leading to positive leasing momentum this quarter.
  • The total take-up in the fi rst quarter was nearly 5,000 pings. With no new buildings completed to release space, the overall vacancy rate dropped to 6%.
  • Rents maintained an upward trend, with Grade A offi ce buildings averaging NT$3,216 per ping, up 0.3% QoQ. The Dunhua N. district saw the highest rental increase at 1.4% QoQ.
  • Leasing momentum mainly came from upgrade demand in Grade B offi ce buildings, especially in non-core business districts, with estimated rental price budget per ping increases exceeding 60%.
  • Seven buildings are expected to be completed in 2025, with a total fl oor area of approximately 64,000 pings. Most of the new buildings will be completed in the second half of this year, of which 40,000 pings will be available for lease.

We expect corporate offi ce upgrade demand to maintain at a certain level, but with stronger control over rental budgets. This will play to the advantage of new offi ces in the mid-price range.

Erin Ting, Savills Research
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