This quarter, grade A office rents were stable in most districts. The citywide average rent reached NT$2,310 (US$79) per ping per month, a 0.13% increase from the previous quarter. Vacancy rate decreased 0.4 percentage points over the last quarter, and total net absorption reached 17,000 ping.
Vacancy rate in Neihu Technology Park (NHTP) decreased slightly due to new tenancies. Vacancy rates in Xihu, Wende and Juizhong Sections fell to 4.2%, 13.4% and 18.4% respectively, while rents remained stable. Rents are not expect to rise in Jiuzhong Section in 2014 as supply may exceed demand. On the other hand, rent in Xihu Section is expected to have slow but steady growth due to limited supply and stable demand.
Investment volume (excluding land transactions) totalled NT$24.15 billion (US$826.34mn) in Q4 2013, a significant decrease from the previous quarter. The transaction volume reached NT$88.31 billion (US$3,021.29mn), an 11.85% drop compared with NT$100.18 billion (US$3,427.44mn) in 2012.
Source : DTZ (Groupe UGL)