In Q2 2016, the asking rents per square metre at apartments in general stabilised on a quarterly basis and slightly increase on a yearly basis. The Central Lumpini area still had the highest asking rents with an average Grade A rent of THB 480 per sq.m. per month, down by 4.4% Q-o-Q and up by 1.7% Y-o-Y. This decrease on quarterly basis was due to Ploenrudee Residence, a project with high asking rent, which has offered a discount to gain transactions in this quarter. This was followed by the Sukhumvit area with an average Grade A rent of THB 459 per sq.m. per month, increasing by 1.5% Q-o-Q and by 5.2% Y-o-Y. The average Grade A rent in the Silom/Sathorn area amounted to THB 420 per sq.m. per month, increasing by 0.5% Q-o-Q but decreasing by 2.7% Y-o-Y. There are no apartment buildings in the Riverside/Rama III area that rank as a Grade A apartment.
Despite the limited amount of new apartment supply and the increasing in the number of expatriates on a yearly basis, there has not been a significant increase in lump sum monthly rents over the last 25 years.
CBRE Research calculates rents for apartments based on a “basket” of buildings.
The analysis of over 2,800 CBRE rental transactions in condominiums and apartments showed that there has only been a slight change in median lump sum rental since 2009. CBRE Research chose to compare the lump sum achieved rent of two- and three-bedroom condominiums and apartments since they match the demand of the market.
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