Bangkok Apartment Research

Bangkok Apartment Research: Data Source

This is an extract of the Bangkok Property Report, is a quarterly subscription report. The report brings professional analysis and transparency to the Bangkok property market which can, for the right projects, generate some of the highest returns in Thailand. Full Bangkok Property Report

Bangkok apartment listings

The report provides detailed information and analysis from CBRE's comprehensive and unrivaled Bangkok and Thailand property databases, combined with our own exhaustive market and property surveys, coupled with the latest and most reliable secondary data from governmental agencies and private operators. The reliability and value of the research is the market understanding and expert opinion drawn from over 25 years of CBRE's full-scale operations in Thailand.

The data in this page focuses specifically on the Bangkok apartment market.

Bangkok Apartment Classifications
Our survey covers apartments in the downtown area of Bangkok which match expatriates’ requirements, with rents of more than THB 20,000/month. The survey concentrates on four areas: Sukhumvit, Silom/Sathon, Central Lumpini and Riverside/Rama III. We have covered single-ownership buildings and excluded multiownership condominium buildings with units for rent.
Grade A
Bangkok Apartment projects in the most favorable locations with a high level of unit features and amenities (fully-equipped kitchen, laundry, high-quality finishes) and community amenities (fitness center, garden & park, swimming pool). Grade A apartments have a good design, a high standard of decoration and are well-maintained. Moreover, Grade A apartments provide a secure environment and adequate car parking. They target tenants who are willing to pay rents above the average for the area.
Grade B
Bangkok Apartments in less favorable locations and with buildings which are typically older than Grade A apartments. Grade B apartments provide good to moderate amenities, design, decoration, maintenance and security.For the purposes of this report, we have combined freehold condominiums, leasehold condominiums and leasehold apartments. We classify units into four categories based on price per unit. Classifications are based on the maximum number of units in a project that fall into a category; for example, a project with three luxury, five high-end and two midrange units would have all apartments classified as high-end, because we consider the project to be high-end, since the highest number of apartments in the project are high-end.
Bangkok Apartment Areas: Definition


The area incorporating Silom, Sathon, Surawong, and Narathiwas-Ratchanakarin (north of Chan Road) Roads, as well as the sois in between

Central Lumpini

The area incorporating Wireless, Ploenchit, Rajadamri, Chidlom, Langsuan, Sarasin and Ruamrudee Roads, and other sois in between


The area incorporating Sukhumvit Road from Soi 1-65 and Soi 2-44, as well as other sois in between

Riverside/Rama III

The area incorporating Charoenkrung, Charoennakorn, Rama III, and Narathiwas- Ratchanakarin (south of Chan Road) Roads, as well as the interlinking sois

Bangkok Apartment - Quarterly Highlights 

Bangkok apartment rent

  • The demand for apartments in Q3 2017 remained strong with an occupancy rate of 96.2%, up by 0.4 percentage point Q-o-Q and 1.5 percentage points Y-o-Y. A total of 10,250 units were occupied.
  • Officially, the number of expatriates holding work permits in Bangkok has increased by 1.2% Q-o-Q from 84,837 in Q2 2017 to 85,832 in Q3 2017, and increased 2.8% Y-o-Y.
  • The expatriate number breakdown by nationality is not available for Bangkok so we use the number for Thailand. Chinese nationals accounted for 14% of the total number of expatriates with work permits, the second largest nationality after the Japanese, more than doubling the size of their population over the last six years from 9,021 in 2011 to 22,822 in Q3 2017.
  • The total supply of apartment units in this quarter was 10,510 units, a decrease of 4.9% Y-o-Y.
  • The total supply of condominium units in popular expatriate tenant areas continued to increase providing more competition for apartments from individual units owned by buy-to-rent investors.
  • The average asking rent for Grade A apartments in Downtown Bangkok was at THB 456 per sq.m. per month, increasing by 1.1% Y-o-Y.
Bangkok Apartment - Total Supply

Bangkok apartment rent total supplyThe supply of apartments in Bangkok’s downtown area totalled 10,651 units, increasing by 143 units Y-o-Y. The change in supply in 2017 was a result of the revision of the data for the Downtown Bangkok area in CBRE’s apartment database in Q1 2017. CBRE Research removed buildings that were closed down or under renovation as we are uncertain if these projects will continue to be operated as apartments once the renovation is completed. As a result, there were no apartments in the Riverside area as of Q3 2017.

Expatriates prefer to live in specific areas of Bangkok. Most choose to live in three main areas: Sukhumvit between sois 1-65 and 2-42, Silom/Sathorn and Central Lumpini/Siam. Of these three areas, the most preferred location is the Sukhumvit area due to its large number of residences, restaurants and shops, all served by the BTS mass transit system, which make the area very attractive.

The apartment units in the Sukhumvit area accounted for 79% of the total supply, while Silom/Sathorn had 14% of the total downtown apartments, followed by the Central Lumpini/Siam area with 7%.

The total supply of Grade A and Grade B apartment units in Q3 2017 was at 2,701 and 7,950, respectively. Grade B units made up 74.6% of the total apartment supply in Downtown Bangkok, whereas Grade A units accounted for only 25.4% of the total supply.

Bangkok Apartment Rental 

Bangkok apartment rent

CBRE Research calculates rents for apartments based on a “basket” of buildings. In Q3 2017, the average asking rent in Grade A expatriate apartments in Downtown Bangkok was at THB 456 per square meter per month, which increased by 0.3% Q-o-Q and 1.3% Y-o-Y.

The Central Lumpini/Siam area still had the highest asking rents with an average Grade A rent of THB 481 per sq.m. per month, followed by the Sukhumvit area and the Silom/Sathorn area with average Grade A rents of THB 461 per sq.m. per month and THB 425 per sq.m. per month, respectively.

Bangkok apartment rental price

Despite the limited amount of new apartment supply and the increasing 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.

Our analysis of over 2,900 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 achieved lump sum rents of two- and three-bedroom condominiums and apartments since they match the demand of the market.

This is an extract of CBRE Bangkok Property Report.  Click to subscribe or for further details.

Contact Us

For information or any advice,
please contact
James PitchonExecutive Director

Phone: +66 2 119 2901
Fax: +66 2 685 3307

Executive Director
Sales Staff

Useful Research

Bangkok Overall MarketView Q3 2017 More
Bangkok Residential MarketView Q3 2017 More
Bangkok Real Estate Market Outlook 2017 More
Global Real Estate Market Outlook 2017 More