Bangkok Overall Figures Q1 2024

Residential:  Fewer new launches in downtown and midtown areas reflect the subdued  Bangkok condominium market. Developers remain focused on selling existing inventory rather than launching new projects, with around 50,000 units set to be completed by 2024.
Office: New supply continues to impact occupancy rates, falling by 1.1pps Q-o-Q to 82.2%, Grade A+ rents held but Grade A CBD rents dropped by 1.1% Q-o-Q. Average Grade A+/A rents fell 0.5%.
Retail: Another positive quarter compared to the same period in 2023. Positive sales momentum from holiday season and domestic government stimulus measures contributing substantially to retail performance.
Hotel: Hotel performance continued to see improvements in all key indicators compared to the previous quarter. The hotel occupancy rate in Q1 2024 was 76.1%, increasing by 3.7 percentage points Q-o-Q while Average Daily Rate (ADR) increased to THB 4,289, growing 2.0% Q-o-Q. 
Industrial & Logistics: Thailand’s industrial market is experiencing sustained demand, across all three types of industrial property. 
Economic: QDP in Q1 2024 grow to 1.5% Y-o-Y from 1.7% Y-o-Y in the previous quarter.