Existing office buildings are actively obtaining green building certifications to improve their competitiveness and tenant retention.

• The completion of two new office buildings drove a sharp increase in absorption during Q2, with a quarterly take-up of 13,000 ping, recording the highest volume in 10 consecutive quarters.
• Steady economic conditions encouraged corporates to expand and upgrade their office environment, pushing the average rent in Q2/2024 to NT$3,189 per ping, up 1.3% QoQ and 4.3% YoY.
• Leasing momentum was particularly active among the software, luxury retail, pharmaceuticals, and financial industries, with international companies remained to be major tenants.
• Luxury retail brands embraced the ESG trend. In addition to receiving LEED certification for flagship stores, several luxury brands have relocated to prime office buildings in the Xinyi District.
• The market is expected to see a spike in available space, approximately 65,000 ping, by the end of 2025. This includes 37,000 ping of new space coming online next year, coupled with the remaining vacant space from the project completed in 2023 and 2024.