Taipei Office Vacancy Rate to Decline in 2011, Jones Lang Says

Taipei’s prime office vacancy rate will decline next year from a record high in 2010 as more Chinese and foreign investors come to the island after the opening up of trade relations between Taiwan and China, Jones Lang LaSalle Inc. said.

The prime office vacancy rate in Taipei will drop to 18 percent at the end of 2011 from 20 percent forecast for the end of this year, said Sherry Wu, the national director of investments and markets at the Taiwan unit of the second-largest publicly traded commercial property broker. The rate increased to 16.27 percent at the end of September from 16.13 percent at the end of 2009.