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Research Centre
3 Sep 09
Bangkok Office MarketView Q2 2009
Bangkok Office MarketView Q2 2009
Overall take-up of the Bangkok office market was 6,763,812 sqm, up 0.2% q-oq and 0.9% y-o-y. The driver of demand in this quarter was DTAC which took up 61,000 sqm in Chamchuri Square. The occupancy rate of the Bangkok office market also improved slightly to 86.0% from 85.8% in the last quarter.
The vacancy rate was 14.0%, indicating a fall from 14.2% recorded in Q1 2009.
Overall, Bangkok office rents fell. During Q2 2009, Grade A CBD office rents fell to THB 700/sqm from THB 710/sqm in Q1 2009, down 1.4% q-o-q and 5.7% y-o-y.
Net new take-up improved significantly in Grade A CBD offices, while net takeup in other segments was negative. The total net take-up in Q2 2009 was 13,524 sqm, up 57.1% q-o-q but down 63.5% y-o-y.
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