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Bangkok Office Market Q1 2021

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At the end of Q1 2021, the supply of office space in Bangkok continued to increase steadily to 9.098 million sq.m. from the launch of one new office building project, namely Bangkok Life Bangkok Life Assurance Company Headquarters Building, with the total NLA of 20,000 sq.m., and found that in Q1 2021, there was another Grade A office building launched into the market, but located outside Bangkok area, which was WHA Tower project with a total NLA of 24,023 sq.m., located on Thepparat Road Km 7.

Meanwhile, the occupancy rate started to rise again due to the demand for office space coming from the e-commerce, developers’ owner use, Financial institutions, Online reservation service companies and wholesale and retail business of electronic products. Colliers Thailand found that in Q1 2021, some tenants still wanted to renew the lease, but at the same time, they wanted to reduce the size of the rental space. While tenants with larger use of the space in each office building had higher bargaining power in order to get better agreements from the office landlords.  Full Report in Thai >> DOWNLOAD

 

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Bangkok Office Market Q1 2021

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Phattarachai Taweewong

Director

Research

Bangkok

Phattarachai is responsible for collect all property sectors in Bangkok and throughout Thailand.

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