Bangkok Overall Figures Q3 2023
November 20, 2023 9 Minute Read
- Condominium market activity in downtown Bangkok remains subdued with no newly launched projects compared to 17 newly launched projects comprising 7,522 units in the midtown/suburban areas.
- The number of international arrivals to Thailand increased from 6,437,153 tourists in Q2 2023 to 7,089,281 tourists this quarter.
- According to STR, the hotel occupancy rate in Q3 2023 was 71.1%, increasing by 3.8 percentage points Q-o-Q and 13.9 percentage points Y-o-Y. Average Daily Rate (ADR) increased to THB 3,877, growing 0.6% Q-o-Q and 18.7% Y-o-Y.
- The total occupied office space in Q3 2023 was 7,924,482 sq. m., with an overall occupancy rate of 83.5%, decreasing by 1.2 percentage points from the previous quarter.