The commercial property market could see another boom after soaring 56 percent to NT$149.5 billion (US$5.26 billion) last year, driven by strong demand for industrial and office spaces, as well as government-backed urban renewal projects, Jones Lang LaSalle Inc (JLL) said on Tuesday.
Government-backed development projects near Taipei Railway Station, Taiwan Power Co’s (台電) former office in Taipei’s Nangang District (南港) and Kaohsiung’s “Asia New Bay Area” (亞洲新灣區) could hit NT$190 billion or higher this year, JLL Taiwan managing director Tony Chao (趙正義) told a news briefing in Taipei.
The tender offers are likely to draw close attention given limited land supply in popular locations across the nation, Chao said.
Photo: Hsu Yi-ping, Taipei Times
Commercial property deals could reach NT$100 billion this year, and land transactions could surpass NT$200 billion, he said.
Land deals, including superfices rights, amounted to NT$287.5 billion last year, JLL Taiwan said, adding that residential plots underpinned 56 percent, as developers aggressively built land inventories, notably in New Taipei City and Taichung.
Tainan also attracted heavy property funds after Taiwan Semiconductor Manufacturing Co (TSMC,台積電), the world’s largest contract chipmaker, announced plans to set up new plants in the area, JLL Taiwan said.
TSMC’s suppliers would soon follow suit and the cluster effect would spur demand for residential spaces, Chao said.
Some tech firms have teamed up with builders to develop residential complexes, and the market might see more such collaborations, he said.
In related news, vacancy rates for grade A offices in Taipei edged up 0.1 percent to 2.16 percent last quarter, while rents grew a fractional 0.6 percent, JLL Taiwan said.
The mild increase in vacancy rates came because some firms relocated to make way for other corporate tenants to earn rental income, JLL Taiwan said.
The office market remains tight, and companies with space to spare are leasing it to make money, the consultancy said.
Taiwan’s rapidly aging population is fueling a sharp increase in homes occupied solely by elderly people, a trend that is reshaping the nation’s housing market and social fabric, real-estate brokers said yesterday. About 850,000 residences were occupied by elderly people in the first quarter, including 655,000 that housed only one resident, the Ministry of the Interior said. The figures have nearly doubled from a decade earlier, Great Home Realty Co (大家房屋) said, as people aged 65 and older now make up 20.8 percent of the population. “The so-called silver tsunami represents more than just a demographic shift — it could fundamentally redefine the
The US government on Wednesday sanctioned more than two dozen companies in China, Turkey and the United Arab Emirates, including offshoots of a US chip firm, accusing the businesses of providing illicit support to Iran’s military or proxies. The US Department of Commerce included two subsidiaries of US-based chip distributor Arrow Electronics Inc (艾睿電子) on its so-called entity list published on the federal register for facilitating purchases by Iran’s proxies of US tech. Arrow spokesman John Hourigan said that the subsidiaries have been operating in full compliance with US export control regulations and his company is discussing with the US Bureau of
Businesses across the global semiconductor supply chain are bracing themselves for disruptions from an escalating trade war, after China imposed curbs on rare earth mineral exports and the US responded with additional tariffs and restrictions on software sales to the Asian nation. China’s restrictions, the most targeted move yet to limit supplies of rare earth materials, represent the first major attempt by Beijing to exercise long-arm jurisdiction over foreign companies to target the semiconductor industry, threatening to stall the chips powering the artificial intelligence (AI) boom. They prompted US President Donald Trump on Friday to announce that he would impose an additional
China Airlines Ltd (CAL, 中華航空) said it expects peak season effects in the fourth quarter to continue to boost demand for passenger flights and cargo services, after reporting its second-highest-ever September sales on Monday. The carrier said it posted NT$15.88 billion (US$517 million) in consolidated sales last month, trailing only September last year’s NT$16.01 billion. Last month, CAL generated NT$8.77 billion from its passenger flights and NT$5.37 billion from cargo services, it said. In the first nine months of this year, the carrier posted NT$154.93 billion in cumulative sales, up 2.62 percent from a year earlier, marking the second-highest level for the January-September
RSS