• Total net absorption of quality office space in Taipei improved slightly to 412 ping in Q4 2020 due to steady relocation activity in the Grade B office segment.
  • Leasing enquiries for office units ranging between 100 and 300 ping remained stable. Technology-related companies and professional services firms were most active during the quarter.
  • In spite of Taiwan’s generally successful containment of the pandemic, numerous multinational companies have allowed selected employees to work remotely. Selected firms are evaluating the possibility of reducing  their leased space.
  • Average office vacancy in the Taipei CBD is forecasted to hover at around 4% during 2021 on the back of limited new supply. Average office rents are expected to continue to rise.