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Research Centre
11 Jun 12
Bangkok Office MarketView Q1 2012
Bangkok Office MarketView Q1 2012
The office market continued to improve. Net new take- up was around 35,000 sq.m. 32,000 sq.m. of new office supply was completed, which was all grade B. The overall vacancy rate fell to 13.73% from 14.13% in Q4 2011, grade A CBD vacancy rates fell to 18.33% from 20.51% from the previous quarter.
The total office supply in Bangkok increased to 8,146,340 sq.m., a 0.3% increase Q-o-Q and 2.0% Y-o-Y. The supply grew by 31,833 sq.m. upon the completion Central Rama 9, Olympia Thai Plaza, and the Palladium.
Overall, 7,017,547 sq.m. of space was occupied, up by 0.65% Q-o-Q and 1.8% Y-o-Y. The occupancy rate improved slightly to 86.1 % from 85.9% in the previous quarter.
Grade A CBD rents rose to an average of THB 713 per sq.m. per month from THB 702 per sq.m. per month.
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