Taipei ranks 45th in premium office space rental price worldwide, according to US-based real-estate agency Jones Lang LaSalle (JLL).
In JLL’s latest Premium Office Rent Tracker, the average rents in Taipei’s Xinyi District (信義) stood at NT$6,165 per ping (3.3m2) per month, the 45th-highest among the 72 sub-markets listed in the report.
The average rents of Grade A offices in the district were the 18th highest in the Asia-Pacific region, JLL said.
It was the first time a Taiwanese city has been included in JLL’s Premium Office Rent Tracker.
Hong Kong’s Central District took top spot in the rankings with the average rent hitting NT$31,575 per ping per month, the report said.
New York’s Midtown came in second with average rent of premium office space at NT$19,804 per ping per month, ahead of London’s West End (NT$18,216), Beijing’s Finance Street (NT$17,565) and New York’s Midtown South (NT$17,002), the agency said.
In the first nine months of this year, office rents worldwide rose 3.6 percent from the same period last year, with demand for office space largely coming from the technology and financial sectors.
Tenants in the sharing economy, who are prepared to share office space with others, also boosted demand worldwide, JLL said.
In the Asia-Pacific region, demand for office space was stronger than in the US and Europe, as the sharing economy has been becoming popular, particularly in first-tier cities in greater China and India, the agency said.
Vacancy rates of office space in some of Taipei’s business districts have fallen below 5 percent, JLL Taiwan associate market director Brian Liu (劉建宇) said.
Grade A office rent is expected to rise by 2 to 3 percent this year, Liu said.
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