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CBRE
FIGURESITAIPEIOFFICEIQ12026
spaceunderpinsmodestrentalgrowth
$2,534
AverageRent(NTD)
7.4%
Averagevacancy
8,459
TotalNetAbsorption(ping)
Note:Arrowsindicatechangefrompreviousquarter.
FIGUIRE1:officeMarketFigures
EXECUTIVESUMMARY
_
to8,459pinginQ12026onthebackofimprovedoccupancyinnewlycompletedoffice
buildings.GrowthinabsorptionwasprimarilyledbytheGradeAsegment,whichsawseveralmediumandlargesizedrelocationtransactionsconcludedduringthequarter.
TaipeiMainstation86,0782,8131,85339.2%2.1%
zhongshanNorthRoad
35,863
1,944
0.7%
Nanjing-songjiangArea
157,796
2,046
8.7%
Minsheng-DunhuaArea
267,577
2,549
1,930
14,7%
6.5%
Nanjing-GuangfuArea
49,938
2,050
1,848
8.3%
7.5%
DunhuasouthRoad
167,320
2,609
1,989
2.0%
3.7%
xinyi-JilongArea
387,209
3,597
1,876
8.1%
3.5%
_
1.2ppsand0.1ppsq-o-qto9.9%and4.8%,respectively.ThemarginaldeclineinGradeBvacancywaspartlyduetoseveralsMEsupgradingtoGradeAbuildings.
_-andGradeBofficerentsgrewby0.4%and0.3%q-o-qtoNT$3,103andNT$1,953perping,respectively.
_
Giventhemanageablesupplypipelineandstableleasingenquiries,mostlandlordsaresettoholdaskingrentsfirminthenearterm.However,largenewsupplyduetobereleasednextyearwilllikelypromptsomelandlordstooffermoreflexibletermstoretaintenants.
source:CBREResearch,aa2026.
NetAbsorptionandvacancy
TotalnetabsorptionofqualityofficespaceinTaipei'SCBDsurgedfrom568pinginQ42025to8,459pinginQ12026.Thisquarter'simprovedperformancewasdrivenbystrongeractivityin
theGradeAsegment,whichsawseverallargescalerelocations.othertailwindsincludedan
increaseinoccupancyratesatselectednewlybuiltoffices.GradeAnetabsorptionamountedto7,867pingthisquarter.TaipeiMainstationandxinyi-JilongAreaoutperformedotherdistricts,withbothareasrecordingGradeAnetabsorptioninexcessof3,000ping,underpinnedby
leasingactivityinnewbuildingscompletedsince2022.withnonewcompletionsandIncreasedtake-up,averageGradeAvacancydecreasedby1.2ppsq-o-qto9.9%.
GradeBofficenetabsorptionreboundedfrom-423pinginQ42025to593pinginQ12026.
However,leasingactivityintheGradeBsegmentremainedrelativelysubduedcomparedwiththeGradeAsector,partlyduetoseveralsMEsrelocatingtoGradeAofficesinpursuitofbetterbuildingqualityandamenities.RelocationdemandintheGradeBofficesegmentwaslargely
source:CBREResearch,aa2026.
FIGURE3:selectedLeasingTransactions
drivenbyoccupiersseekingsmallerofficeunits.AverageGradeBvacancyedgeddownby0.1ppsq-o-qto4.8%,supportedbytheabsenceofnewsupplyoverthequarter.
LeasingActivity
LeasingenquirieswererobustinQ12026,withagrowingnumberofrequirementsexceeding
approximately79%ofrelocationactivityinrecentmonthshasinvolvedoccupiersupgradingtobuildingswithbetterspecificationsorinmorecentrallocations.Thisreflectscorporates'strongpreferenceforqualityofficespacedespiteelevatedrentalcosts.
TheongoingAIboomensuredtechfirmscontinuedtobethedominantsourceofrelocation
demand.Duringthequarter,u.s.semiconductorcompanyTexasInstrumentsleased1,725pinginthenewlycompletedcathaycosmosBuildingforexpansion.Elsewhere,severallocaland
JapaneseenterprisesupgradedtheirworkingenvironmentbytakingupGradeAofficespace.TheperiodalsosawselectedinternationalflexibleworkspaceoperatorsexpandtheirfootprintinTaipei,reflectingrisingdemandformultifunctionalspaceonflexibleterms.TheseincludedRegus,whichopenedanewcentreinagreencertifiedbuildinginshihlintotargettech
300pingconcentratedinofficebuildingscommandinghigherrents.CBREdatashow
TexasInstruments
1,725
cathaycosmosBuilding
MDA
semiconductors
pacificsoGO
1,014
FubonDunNanBuilding
DSR
Retail
TheExecutivecentre
914
Taipei101
XJA
Flexibleworkspace
shinRuennGroup
562
HungshengInternationalFinancialcenter
NSA
construction
EvonikTaiwan
312
FarGloryInternationalcenter
XJA
chemicals
source:CBREResearch,Q12026.
companiesinNorthTaipei;andtheTheExecutivecentre,whichrentedanadditionalfloorinTaipei1o1tocatertodemandforprimeofficespace.
Rents
AverageGradeAofficerentsedgedupby0.4%q-o-qtoNT$3,103perpinginQ12026,
supportedbyrobusttake-upinselectedprimebuildings.Bysubmarket,TaipeiMainstation
recordedthestrongestrentalgrowth,withGradeArentsrisingby3.9%q-o-q,largelydrivenbyimprovingoccupancyinnewlycompletedbuildings.owingtothelimitednewsupplyexpectedthisyearandtheprevailingflight-to-qualitytrend,mostGradeAofficelandlordshave
maintainedaskingrentsatcurrentlevels,leavinglimitedroomfortenantstonegotiate.
AverageGradeBofficerentsroseslightlyby0.3%q-0-qtoNT$1,953perpingthisquarter.
Althoughtenantsareincreasinglyoptingforbettergradeoffices,thewideningrentalgap
betweentheGradeAandGradeBsegmentshasledsomecost-conscioustenantstorelocatetonewerGradeBbuildingsofferingrelativelyfavourableterms,balancingleasingcostsagainst
officequality.ThisensuredthatGradeBleasingactivityremainedstableduringthequarter.
outlook
AmidsurgingglobalinvestmentinAlinfrastructure,Taiwan'sexportscontinuetosoar,
underpinnedbystrongdemandforsemiconductorsandICTproducts.Accordingtothelatest
officialdata,Taiwan'SGDpgrowthreachedanestimated13.69%y-0-yinQ12026,thehighest
quarterlygrowthrecordedin39years.Againstthebackdropofbuoyanteconomicperformance,corporatesareplacinggreateremphasisonemployeeexperiencetoattractandretaintop
talent,withrelocationtowell-equippedofficesremainingakeystrategy.Asaresult,flight-to-qualityisexpectedtoremainthemaindriverofleasingactivityinTaipei'sofficemarket.
ThreenewofficebuildingsareslatedforcompletioninTaipei'SCBDoverthenextsixmonths,addingnearly11,000pingofleasablespacetothemarket.withamanageablesupplypipeline,solidprecommitmentactivityatselectedbuildingsunderconstruction,andthepossibilityofinstitutionallandlordsreservingmorespaceforowner-occupationthanoriginallyplanned,
averagevacancyisforecastedtorisemoderatelyinthecomingquarters.Mostlandlordsarethereforeexpectedtoholdrentsfirm,sustaininglandlordfavourablemarketconditionsinthenearterm.However,thesubstantialinfluxofnewsupplyin2027,coupledwithanincreaseinnewofficecompletionsintheNangangarea,willlikelyexertsignificantupwardpressureon
vacancyacrosscBDsubmarkets.Thismaycompelmorelandlordstooffermoreincentivestoretainexistingtenantsduringleaserenewalnegotiations.
FIGURE4:AverageRentsandvacancy
source:CBREResearch,a12026.
FIGURE5:Developmentpipeline
source:CBREResearch,Q12026.
MarketAreaoverview
TaipeiMainstation(TMS)zhongshanNorthRoad(ZNR)Nanjing-songjiangArea(NSA)
Minsheng-DunhuaArea(MDA)Nanjing-GuangfuArea(NGA)DunhuasouthRoad(DSR)
xinyi-JilongArea(XJA)
classification
CBRE'sclassificationofTaipeiofficebuildingsfollowsastructuredgradingsystemthatconsidersabuilding's
lo
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