COLLIERS FLASH COMMERCIAL PROPERTY | RESEARCH | TAICHUNG | 28 MAY 2020 TAICHUNG’S FAST-GROWING NEW BUSINESS DISTRICT Eilleen Liang Top investment destination for high-quality office, retail, hotel and high-end residential in Taichung Director | Research | Taiwan +886 2 8722 8601
[email protected] Insights & 18,000 person 16.7 KM with 18 Recommendations increase per year stations The New City Hall Business Taichung City is a rapidly growing metropolitan The MRT green line spans six District (NCHBD) is a multi-centric area, adding an average of 18,000 people per administrative districts and is scheduled hub in central Taiwan. The office year in the last five years, the second to open by the end of 2020. We expect market was active in Q1, with largest increase among Taiwan’s six this will bring TOD opportunities along impact from COVID-19 not yet metros. the new route. apparent. > We expect the NCHBD to become Taichung’s largest Highest growth of new company prime office market in the next five years. registrations > Continued manufacturing The Taichung City government is working to improve the investment environment and infrastructure. Nearly 60% of the city’s annual budget is allocated to upgrade the investment in Taichung City industrial structure, boost research and development, and build infrastructure. Thus, we should drive demand for have found the new company registrations rank the highest among Taiwan’s six metros office space. We recommend the office sector in Taichung as the most stable and > Three main drivers supported land transactions and office leasing demand in Taichung City: population growth, promising investment improvements to transportation networks, and industrial investment.