Vacancy rates for Class A offices in Taiwanese capital Taipei have continued to drop in the last quarter leading to a slight rise in rents, according to Jones Lang LaSalle (JLL).
Office vacancy rates decreased to 8 per cent during the three month-period ending in September as demand from companies in the technology, financial and internet sectors increases.
Rents increased by 0.2 per cent during the quarter and 4.1 per cent year-on-year.
The cost of renting office space in the prime Xinyi District increased by 0.6 per cent over the past three months. This is the equivalent of a 7.1 per cent increase over a 12-month period.
Grade A office rents in non-core business districts increased by 2.4 per cent and vacancy rates dropped to only 5.7 per cent during the same period.
Joe Lin, JLL’s Director in Taipei has attributed the current positive outlook to improving economic conditions.
