Bangkok Overall Figures Q1 2025

Residential: There was no sign of improvement in overall condominium market activity in the first quarter of 2025. The number of newly launched units continued to drop especially in the midtown/suburban areas. Majority of developers continued to focus on clearing their unsold inventories amid weak economic conditions.
Office: Total supply has reached 10 million square meter for the first time. Demand remained positive but not high enough compared to new supply resulting in a further drop in overall occupancy. Overall rents remained unchanged from the previous quarter while Grade A+ rent showed the highest increase compared to the same period last year.
Retail: Bangkok's Q1 2025 retail growth, fueled by festive spending and tax stimulus, is projected to continue into Q2 with seasonal demand and tourism, though the March earthquake may moderate consumer spending, evidenced by a declining Consumer Confidence Index (56.7 in March, a 10.0% Y-o-Y decrease).
Hotel: Hotel performance in Q1 2025 exhibited a decline compared to Q4 2024, with all key indicators decreasing Q-o-Q, despite a slight increase in international arrivals. While occupancy rates fell, both ADR and RevPAR demonstrated Y-o-Y growth.
Industrial & Logistics: Industrial market continues to experience strong growth with high demand for SILP and RBF, while supply for these properties remains limited.
Economic: GDP growth for whole year 2025 forecasted to grow by 2.9% Y-o-Y.