Limited new office supply in Bangkok is expected to drive up rental prices by between 5 per cent and 9 percent this year, according to a survey by CB Richard Ellis (Thailand). CBRE’s research also anticipates that the tight office-supply situation will continue in 2018 and 2019, while the supply situation from 2020 onward will depend on how many developers start construction on new office projects this year.
The property agency’s research unit, CBRE Research, reports that although office supply in Bangkok has expanded by 140,000 square meters, vacancy has continued to fall to 8 per cent and rents are therefore expected to rise by 5-9 per cent this year, depending on location and grade.
New office supply under construction is limited, with only 225,000 square meters due to be completed this year, and 167,000 square meters due for completion in 2018.
Read more: The Nation