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Thailand MarketBeat Reports

14/07/2023
Cushman & Wakefield MarketBeat reports analyze quarterly economic and commercial real estate activity including supply, demand and pricing trends at the market and submarket levels.

Office: Total Grade A office stock in the CBD area rose to 2.03 million sq m in the second quarter of 2023. Rental rates remain stable, overall vacancy set to rise as an influx of new supply enters the market with low to moderate pre-let commitment levels, and tenants continue to reevaluate their workplace strategies amid right-sizing and flight to quality trends.

Retail:
Retail demand in existing shopping malls in prime CRD areas gradually picked up. The overall vacancy rate dropped to 4.46% in the first half of 2023, continuing its downward trajectory from 4.82% in 2H 2022 and 6.0% in 1H 2022.

Condominium:
Bangkok’s condominium market gradually recovered over 1H 2023, with market sentiment improving with the growing Thai economy. New supply was limited, with just 12,282 new condominium units launched in 1H 2023, down 42.1% on 2H 2022.

Industrial:
Total Ready Built Factory (RBFs) inventory in Q2 2023 was 3.2 million sq m. The average RBF asking rent remained unchanged q-o-q at THB189 per sq m per month. Total Ready Built Warehouse (RBW) inventory expanded to 5.34 million sq m in Q2 2023. The average asking rent for RBWs remained unchanged q-o-q at THB152 per sq m per month.

Hotel:
Bangkok’s hotel market continued to improve in 1H 2023. Thirty-six new hotels opened in the city during the 1H period, adding 4,290 rooms.

Learn more by clicking our most recent Bangkok MarketBeat reports below.

CURRENT MARKETBEAT

Office Buildings CBD
Bangkok Office Report

Total Grade A office stock in the CBD area rose to 2.03 million sq m in the second quarter of 2023, owing to the completion of the WHA KW project which added 9,900 sqm of Grade A supply.

Click here to download the report

Shopping Retail
Bangkok Retail Report

Bangkok’s retail market continued to improve during 1H 2023 driven by growing demand from domestic and foreign consumers.

Click here to download the report

Warehouse Internal Rack
Bangkok Condominium Report

Bangkok’s condominium market gradually recovered over 1H 2023, with market sentiment improving with the growing Thai economy. New supply was limited, with just 12,282 new condominium units launched in 1H 2023, down 42.1% on 2H 2022.

Click here to download the report

Warehouse Internal Rack
Bangkok Industrial Report

Thailand’s Serviced Industrial Land Plots (SILPs) market continued to be active. The overall sales rate in Q2 2023 climbed to 90.09%, up from 89.66% in Q1 2023.

Click here to download the report

generic-building
Bangkok Hotel Report

Bangkok’s hotel market continued to improve in 1H 2023. Thirty six new hotels opened in the city during the 1H period, adding 4,290 rooms.

Click here to download the report

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