Investors are looking for opportunities with retail and offices in the CBD favoured.

• As Taiwan’s exports plummeted by 18% in 1H/2023, the Department of Budget, Accounting, and Statistics revised down 2023 economic growth to 2.04%, facing a critical challenge to maintain the level above 2%.
• The central bank has paused interest rate hikes again; however, another wave of selective credit controls has been announced, reflecting the poor performance of previous measures aimed at cooling the market.
• The liquidation of Shing Kong No.1 REIT has driven transaction volumes this quarter to NT$49.6 billion, up 211% QoQ and 58% YoY.
• Six assets owned by Shin Kong No.1 REITs were disposed of through open bidding for NT$30.7 billion with buyers including developers, professional nvestment institutions, REITs, and end-users.
• Professional investment institutions were the main buyers, preferring office and retail assets in core areas, contributing NT$15.7 billion in total.
• Land transactions have remained sluggish, with transaction volumes totaling NT$23.6 billion in Q2/2023, dropping by 29% YoY. Developers remain cautious and are cutting spending on land acquisitions.