STABLE MARKET OUTLOOK IN 2021
In 2020, Taiwan showed resilient economic growth. With COVID-19 minimally impacting Taipei’s office market and relatively stable business operations, we saw 2% annual rental growth.
Looking ahead, with lingering uncertainty surrounding the pandemic and an uncertain global economy, we expect the expansion or relocation of multinational companies to slow down in 2021.
- We recommend landlords start pre-leasing one to two years before building completion. 2023 should be a watershed with the heavy new supply from 2023-2025. Focus on the increasing demand from tech and biotechnology occupiers.
- We recommend occupiers prepare plans for split office operations to adapt to the new workstyle as the pandemic subsides.In 2020, Taiwan showed resilient economic growth. With COVID-19 minimally impacting Taipei’s office market and relatively stable business operations, we saw 2% annual rental growth.
Looking ahead, with lingering uncertainty surrounding the pandemic and an uncertain global economy, we expect the expansion or relocation of multinational companies to slow down in 2021.
