The commercial property market in Taipei City grew steadily in the second quarter, supported by increasing investment in Neihu and Nangang districts, a report by CB Richard Ellis Ltd (CBRE) Taiwan said yesterday.
Propelled by the improving economy, the business property market -- in both investment and office leasing -- in Taipei was buoyant in the last quarter and is expected to continue performing well, the report said.
With the technology cluster effect and improving infrastructure, Neihu and Nangang have attracted an increasing number of investors seeking commercial property, CBRE said.
Transactions concluded in the districts during the second quarter included China Life Insurance (中國人壽), which purchased the Everelite Technology Co's (艾群科技) office building in Nangang Software Park (南港軟體工業園區) for NT$428 million (US$13 million) and then leased office space to Everelite, the report said.
Although the benchmark interest rate increased 0.25 percent to 3.125 percent last month, the rate is still considered low and will not deter institutional investors, the real estate firm said.
Supply of Grade A office space in Taipei remained at 427,352 ping (1.3 million square meters) for the seventh consecutive quarter as no major office buildings were completed, the report said.
The overall vacancy rate slightly dropped to 9 percent and is expected to further decrease with the absence of new supply and steadily growing demand, it said.
The average monthly rent for Grade A offices in Taipei rose 1.7 percent to NT$2,341 per ping in the last quarter, the report said. Xinyi District continued to lead the Grade A office leasing market with the highest monthly rent of NT$2,489 per ping, up NT$15 from the first quarter. Dunhua S Road and Renai Road circle were a close second.
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
TECH RELIANCE: Growth is increasingly reflecting an unequal K-shaped distribution, where technology sectors outperform and other industries struggle, an expert said Standard Chartered Bank has significantly raised its forecast for Taiwan’s economic growth to 9.5 percent this year, up from 7.6 percent previously, citing surging artificial intelligence (AI) demand driving exports, semiconductor production and investment. The upgrade reflects a sustained AI supercycle that continues to fuel demand for advanced chips and technology infrastructure, which form the backbone of Taiwan’s exports, the bank said in a report this week. “We raise our 2026 growth forecast to reflect a much stronger-than-expected first-quarter GDP figure,” Standard Chartered senior economist for greater China and Asia Tommy Wu (胡東安) said in the report. Driven largely by a 35.3 percent
Tokyo Electron's Taiwan unit today said in a written response that it respects the judicial process, takes the court ruling seriously and would not appeal in the Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) trade secrets case. Last month, a court fined the Taiwan unit of Japan's Tokyo Electron NT$150 million (US$4.74 million) in a case involving trade secrets related to TSMC's sensitive chip technology.
Two of Taiwan’s international carriers, Starlux Airlines Co (星宇航空) and EVA Airways Corp (長榮航空), have retained the five-star airline rating awarded by international airline review organization Skytrax. Starlux was awarded the distinction for a second consecutive year, while EVA Air received it for the 11th straight year, Skytrax said in statements released yesterday and on Thursday last week, respectively. The five-star rating is considered one of the airline industry's highest honors and is awarded following professional audits of airline product and frontline service standards, Skytrax said. The ratings are based on in-depth assessments using unified global quality standards rather than customer review scores
RSS