Thailand office rental rates continue to rise | 13 July 2012
The average rental rate continues to grow for office space in Bangkok’s central business district.
That’s according to figures released by CRBE Thailand, cited by propertywire.com, which shows an increase in rental rates of 4.9 per cent for grade-A office space in the first quarter of 2012.
The highest rates in the area were for properties in the Park Ventures Ecoplex, where the asking price was 900 baht per sq m a month up from 875 baht.
However, on average, grade-A rents rose to 713 baht per sq m a month in the first quarter up from 702 baht in last year’s fourth quarter.
In addition, the supply grew by about 32,000 sq m in the quarter, but no new grade-A offices were added in central business district locations, reports ibtimes.com. In total, the office supply increase to 8.14 million sq m, up by 2 per cent year on year.
Nithipat Tongpun, the executive director and head of office services at CBRE Thailand, commented on the rise: “The office market continues to improve steadily, with an increase in the net take up and a higher occupancy rate. Provided there is no major external economic shocks or domestic political events, the outlook for the Bangkok office market is positive.”
Written by Ashley Curtis on behalf of Qube Global Software
While posted by Qube Global Software all views expressed are not necessarily those of the company. All facts are verified where possible directly by the author.
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